USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0259%/8h= +28.4% APRnext payment +$1.30 per $10,000 · paid last 24h +0.074%

Price spread now: edgeX against Phemex+0.236%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$360as in the Funding arb table

Net, price: spread back to 7d avg − costs−$346as in the Price arb table

costs, in and out, $10k−$3673.666% of the position

Long on Phemex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 4 days (all we have)−0.074%−$7 · spread now +0.236%, 7d avg +0.033%

Together, before fees−0.010%+ Points / potential airdropedgeX: Active · farm board−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and edgeX is 0.202% dearer against Phemex than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.033%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.064% in total (about 3.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.30 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	0.2898	0.0100	pay 0.0050% / 4h	0m 44s	$663K	$1.3M	20x
Short	edgeX USELESSUSDC	0.2905	0.0359	get 0.0180% / 4h	0m 44s	$22K	$199K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.236%Rate

Funding earned: $54.45
Price spread: +0.236% → +0.033%: $20.21
Slippage, 4 orders: −$345.59
Fee Phemex: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$291.93
Costs to cover: 3.666%
Break-even: 44.5 days

Slippage from Phemex: live order book, 2 min ago; edgeX: live order book, 36 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, 2 min ago	28.51 bp	65.3 bp −$65	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 36 min ago	3.29 bp	70.0 bp −$70	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	0.2891	−0.242%	$1.3M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2891	−0.254%	$31K	$19K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2892	−0.221%	$10.1M	$73.6M	10x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	0.2894	−0.135%	$5.3M	$10.8M	12x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2894	−0.138%	$5.6M	$11.0M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2900	+0.059%	$28K	$284K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2900	+0.069%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2899	+0.038%	$19K	$515K	20x	as long as short
Phemex USELESSUSDTlong	+0.0100%	4h	0.2898	long leg	$663K	$1.3M	20x
Aevo USELESS-PERP	+0.0176%	1h	0.2901	+0.082%	$10K	—	3x	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	+0.0194%	4h	0.2895	−0.117%	$7.3M	$8.9M	50x	as long as short
Aster USELESSUSDT	+0.0328%	4h	0.2892	−0.238%	$569K	$2.2M	10x	as long as short
edgeX USELESSUSDCshort	+0.0359%	4h	0.2905	+0.236%	$22K	$199K	10x
Binance USELESSUSDT	+0.0381%	4h	0.2894	−0.162%	$24.2M	$127.7M	50x	as long as short
MEXC USELESS_USDT	+0.0382%	4h	0.2893	−0.200%	$12.9M	$6.4M	50x	as long as short
Extended USELESS-USD	+0.0384%	1h	0.2895	−0.114%	$278K	$1.7M	5x	as long as short
ApeX Omni USELESSUSDT	+0.0475%	1h	0.2907	+0.297%	$53K	$701K	25x	as long as short
BingX USELESS-USDT	+0.0658%	4h	0.2894	−0.148%	—	$5.4M	—	as long as short
Bybit USELESSUSDT	+0.0720%	4h	0.2893	−0.173%	$27.8M	$51.0M	13x	as long as short
Variational Omni USELESS	+0.0743%	4h	0.2901	+0.081%	$1.2M	$1.9M	—	as long as short
BloFin USELESS-USDT	+0.0960%	4h	0.2900	+0.059%	$1.2M	$2.2M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.0968%	4h	0.2899	+0.035%	$21K	$1.8M	10x	as long as short
Hyperliquid USELESS	+0.1225%	1h	0.2895	−0.104%	$12.7M	$23.7M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3098	+6.900%	$5K	$11K	5.5x	as long as short