USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0355%/8h= +38.8% APRnext payment +$1.77 per $10,000 · paid last 24h +0.044%

Price spread now: Binance against Phemex−0.288%7-day average +0.002% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 4 days (all we have)+0.385%+$39 · spread now −0.288%, 7d avg +0.002%

Together, before fees+0.446%+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.290% cheaper against Phemex than usual: you would sell low and buy high (spread −0.288% now, against its 7-day average of +0.002%). If the spread goes back, that is −$29 on $10k: about 2.7 days of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.061% in total) that is about 33 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.061% in total (about 3.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.77 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex USELESSUSDT	0.2576	0.0100	pay 0.0050% / 4h	28m 48s	$577K	$1.0M	20x
Short	Binance USELESSUSDT	0.2569	0.0455	get 0.0227% / 4h	28m 48s	$21.4M	$123.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhemexbpFee BinancebpOrdersPrice spread, now −0.288%Rate

Funding earned: $74.46
Price spread: −0.288% → +0.002%: −$29.01
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: $23.45
Costs to cover: 0.220%
Break-even: 4.8 days

Slippage unknown: Phemex: live order book, 4 min ago; Binance: live order book, 14 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 Phemex live order book, 4 min ago	16.00 bp	49.6 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	0.20 bp	18.3 bp −$18	62.4 bp −$624	doesn't fit	doesn't fit

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	0.2566	−0.400%	$1.2M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2567	−0.369%	$11.4M	$22.9M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2568	−0.322%	$28K	$64K	3x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2576	+0.004%	$33K	$223K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2577	+0.027%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2569	−0.272%	$17K	$521K	20x	as long as short
Phemex USELESSUSDTlong	+0.0100%	4h	0.2576	long leg	$577K	$1.0M	20x
Aevo USELESS-PERP	+0.0200%	1h	0.2572	−0.168%	$9K	—	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0205%	4h	0.2566	−0.415%	$8.9M	$63.1M	10x	as long as short
KuCoin USELESSUSDTM	+0.0222%	4h	0.2567	−0.369%	$4.6M	$10.7M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0244%	4h	0.2565	−0.442%	$6.4M	$8.7M	50x	as long as short
Bitget USELESSUSDT	+0.0348%	4h	0.2564	−0.466%	$4.9M	$10.4M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0420%	1h	0.2558	−0.710%	$33K	$693K	25x	as long as short
Binance USELESSUSDTshort	+0.0455%	4h	0.2569	−0.288%	$21.4M	$123.3M	50x
Extended USELESS-USD	+0.0456%	1h	0.2566	−0.398%	$113K	$1.2M	5x	as long as short
MEXC USELESS_USDT	+0.0458%	4h	0.2567	−0.353%	$10.3M	$6.2M	50x	as long as short
edgeX USELESSUSDC	+0.0461%	4h	0.2566	−0.381%	$19K	$197K	10x	as long as short
Aster USELESSUSDT	+0.0510%	4h	0.2569	−0.279%	$509K	$2.4M	10x	as long as short
Bybit USELESSUSDT	+0.0524%	4h	0.2566	−0.404%	$24.5M	$48.6M	13x	as long as short
BingX USELESS-USDT	+0.0532%	4h	0.2566	−0.404%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0718%	4h	0.2564	−0.485%	$1.0M	$1.9M	—	as long as short
BloFin USELESS-USDT	+0.0779%	4h	0.2576	−0.012%	$1.1M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1323%	4h	0.2578	+0.062%	$19K	$1.2M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2704	+4.964%	$5K	$11K	5.5x	as long as short