Funding you earn now, next payment 04:00 UTC−0.0205%/8h= −22.5% APRnext payment −$1.03 per $10,000 · paid last 24h −0.108%
Price spread now: Variational Omni against Orderly−0.284%7-day average +0.119% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.367%−$37 on $10k
+Price spread, last 3 days (all we have)+0.255%+$25 · spread now −0.284%, 7d avg +0.119%
=Together, before fees−0.112%+ Points / potential airdropVariational Omni: Active · farm board−$11 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Variational Omni is 0.403% cheaper against Orderly than usual: you would sell low and buy high (−$40 if the spread goes back to its 7-day average of +0.119%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_USELESS_USDC | 0.2864 | 0.1242 | pay 0.0621% / 4h | 3h 20m | $22K | $1.4M | 10x |
| Short | Variational Omni USELESS | 0.2856 | 0.1037 | get 0.0519% / 4h | 3h 20m | $1.2M | $1.7M | — |
Orderly PERP_USELESS_USDC
Variational Omni USELESSFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Orderly. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$43.11
- Price spread: −0.284% → +0.119%
- −$40.29
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$89.41
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Orderly no order-book sample | — | — | — | — | — |
| Sell Variational Omni RFQ quote, 4 min ago | 5.25 bp | doesn't fit | 71.8 bp −$718 | doesn't fit | doesn't fit |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
USELESS on 24 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter USELESS | +0.0096% | 1h | 0.2869 | +0.175% | $1.3M | $1.1M | 3x | as long as short |
| Pacifica USELESS | +0.0100% | 1h | 0.2856 | −0.285% | $32K | $69K | 3x | as long as short |
| OKX USELESS-USDT-SWAP | +0.0100% | 4h | 0.2866 | +0.073% | $10.1M | $67.2M | 10x | as long as short |
| Polymarket Perps USELESS-USD | +0.0100% | 1h | 0.2855 | −0.318% | $49K | $173K | 3x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2868 | +0.140% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2859 | −0.161% | $19K | $509K | 20x | as long as short |
| Phemex USELESSUSDT | +0.0100% | 4h | 0.2862 | −0.066% | $605K | $1.2M | 20x | as long as short |
| KuCoin USELESSUSDTM | +0.0170% | 4h | 0.2853 | −0.367% | $5.3M | $10.1M | 12x | as long as short |
| Aevo USELESS-PERP | +0.0200% | 1h | 0.2865 | +0.049% | $10K | — | 3x | as long as short |
| edgeX USELESSUSDC | +0.0475% | 4h | 0.2859 | −0.186% | $21K | $193K | 10x | as long as short |
Lighter USELESS
Pacifica USELESS
OKX USELESS-USDT-SWAP
Polymarket Perps USELESS-USD
SunX USELESS-USDT
HTX USELESS-USDT
Phemex USELESSUSDT
KuCoin USELESSUSDTM
Aevo USELESS-PERP
edgeX USELESSUSDCShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended USELESS-USD | +0.0480% | 1h | 0.2862 | −0.071% | $302K | $1.2M | 5x | as long as short |
| MEXC USELESS_USDT | +0.0482% | 4h | 0.2858 | −0.206% | $10.7M | $5.9M | 50x | as long as short |
| Binance USELESSUSDT | +0.0483% | 4h | 0.2859 | −0.159% | $24.2M | $116.1M | 50x | as long as short |
| Bitget USELESSUSDT | +0.0518% | 4h | 0.2867 | +0.112% | $5.5M | $9.6M | 20x | as long as short |
| ApeX Omni USELESSUSDT | +0.0533% | 1h | 0.2856 | −0.276% | $40K | $699K | 25x | as long as short |
| Gate USELESS_USDT | +0.0706% | 4h | 0.2855 | −0.307% | $7.2M | $8.4M | 50x | as long as short |
| Bybit USELESSUSDT | +0.0939% | 4h | 0.2862 | −0.080% | $28.0M | $46.2M | 13x | as long as short |
| BingX USELESS-USDT | +0.1014% | 4h | 0.2863 | −0.024% | — | $5.1M | — | as long as short |
| Variational Omni USELESSshort | +0.1037% | 4h | 0.2856 | −0.284% | $1.2M | $1.7M | — | |
| Aster USELESSUSDT | +0.1053% | 4h | 0.2855 | −0.315% | $656K | $2.3M | 10x | as long as short |
| Hyperliquid USELESS | +0.1145% | 1h | 0.2863 | −0.042% | $14.4M | $20.9M | 3x | as long as short |
| Orderly PERP_USELESS_USDClong | +0.1242% | 4h | 0.2864 | long leg | $22K | $1.4M | 10x | |
| BloFin USELESS-USDT | +0.1427% | 4h | 0.2858 | −0.220% | $1.2M | $2.1M | 12x | as long as short |
| Injective USELESS/USDC PERP | +0.5000% | 1h | 0.3019 | +5.430% | $5K | $9K | 5.5x | as long as short |
Extended USELESS-USD
MEXC USELESS_USDT
Binance USELESSUSDT
Bitget USELESSUSDT
ApeX Omni USELESSUSDT
Gate USELESS_USDT
Bybit USELESSUSDT
BingX USELESS-USDT
Aster USELESSUSDT
Hyperliquid USELESS
BloFin USELESS-USDT
Injective USELESS/USDC PERP