USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0864%/8h= +94.6% APRnext payment +$4.32 per $10,000 · paid last 24h +0.155%

Price spread now: BloFin against Phemex+0.426%59s7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$205as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2682.684% of the position

Long on Phemex Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.638%+$64 on $10k

Price spread, last 3 days (all we have)−0.479%−$48 · spread now +0.426%, 7d avg +0.029%

Together, before fees+0.159%+$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$26 a day on $10k at the current rate, and BloFin is 0.397% dearer against Phemex than usual: you sell high and buy low: +$40 more if the spread goes back to its 7-day average of +0.029%. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex USELESSUSDT	0.2838	0.0100	pay 0.0050% / 4h	2h 49m	$600K	$1.2M	20x
Short	BloFin USELESS-USDT	0.2850	0.0964	get 0.0482% / 4h	2h 49m	$1.2M	$2.1M	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.426%Rate

Funding earned: $181.42
Price spread: +0.426% → +0.029%: $39.74
Slippage, 4 orders: −$244.37
Fee Phemex: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$47.21
Costs to cover: 2.684%
Break-even: 8.8 days

Slippage from Phemex: live order book, 3 min ago; BloFin: live order book, 3 min ago.

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, 3 min ago	42.59 bp	85.9 bp −$86	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	1.76 bp	15.5 bp −$15	doesn't fit	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	0.2834	−0.130%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2844	+0.197%	$32K	$69K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2842	+0.137%	$10.0M	$67.5M	10x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	0.2841	+0.106%	$5.2M	$10.2M	12x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2844	+0.201%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2842	+0.152%	$19K	$515K	20x	as long as short
Phemex USELESSUSDTlong	+0.0100%	4h	0.2838	long leg	$600K	$1.2M	20x
ApeX Omni USELESSUSDT	+0.0108%	1h	0.2827	−0.388%	$39K	$698K	25x	as long as short
Gate USELESS_USDT	+0.0154%	4h	0.2837	−0.039%	$7.1M	$8.3M	50x	as long as short
Aevo USELESS-PERP	+0.0208%	1h	0.2846	+0.291%	$10K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX USELESSUSDC	+0.0470%	4h	0.2832	−0.206%	$21K	$194K	10x	as long as short
MEXC USELESS_USDT	+0.0504%	4h	0.2844	+0.229%	$11.1M	$6.0M	50x	as long as short
Extended USELESS-USD	+0.0512%	1h	0.2844	+0.198%	$300K	$1.2M	5x	as long as short
Binance USELESSUSDT	+0.0513%	4h	0.2842	+0.152%	$24.1M	$117.7M	50x	as long as short
Bitget USELESSUSDT	+0.0574%	4h	0.2838	−0.004%	$5.4M	$9.9M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0610%	1h	0.2841	+0.120%	$44K	$184K	3x	as long as short
Bybit USELESSUSDT	+0.0631%	4h	0.2841	+0.099%	$27.6M	$46.7M	13x	as long as short
BingX USELESS-USDT	+0.0744%	4h	0.2842	+0.123%	—	$5.1M	—	as long as short
Variational Omni USELESS	+0.0917%	4h	0.2853	+0.511%	$1.2M	$1.7M	—	as long as short
BloFin USELESS-USDTshort	+0.0964%	4h	0.2850	+0.426%	$1.2M	$2.1M	12x
Aster USELESSUSDT	+0.1056%	4h	0.2840	+0.085%	$653K	$2.3M	10x	as long as short
Hyperliquid USELESS	+0.1169%	1h	0.2844	+0.215%	$14.2M	$21.1M	3x	as long as short
Orderly PERP_USELESS_USDC	+0.1256%	4h	0.2845	+0.261%	$22K	$1.4M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2984	+5.155%	$5K	$9K	5.5x	as long as short