USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0200%/8h= +21.9% APRnext payment +$1.00 per $10,000 · paid last 24h −0.042%

Price spread now: KuCoin against Phemex+0.211%7-day average −0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$326as in the Funding arb table

Net, price: spread back to 7d avg − costs−$308as in the Price arb table

costs, in and out, $10k−$3353.351% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 3 days (all we have)−0.210%−$21 · spread now +0.211%, 7d avg −0.063%

Together, before fees−0.119%−$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and KuCoin is 0.274% dearer against Phemex than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of −0.063%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.091% in total (about 4.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.00 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	0.2847	0.0100	pay 0.0050% / 4h	2h 01m	$574K	$1.2M	20x
Short	KuCoin USELESSUSDTM	0.2853	0.0300	get 0.0150% / 4h	2h 01m	$5.3M	$9.7M	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.211%Rate

Funding earned: $42
Price spread: +0.211% → −0.063%: $27.42
Slippage, 4 orders: −$311.05
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$265.63
Costs to cover: 3.351%
Break-even: 51.3 days

Slippage from Phemex: live order book, 1 min ago; KuCoin: live order book, 7 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, 1 min ago	59.01 bp	106.7 bp −$107	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	8.97 bp	48.5 bp −$49	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	0.2851	+0.172%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2853	+0.214%	$32K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2853	+0.235%	$10.1M	$64.4M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2851	+0.148%	$28K	$140K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2861	+0.516%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2848	+0.056%	$20K	$388K	20x	as long as short
Phemex USELESSUSDTlong	+0.0100%	4h	0.2847	long leg	$574K	$1.2M	20x
Aevo USELESS-PERP	+0.0232%	1h	0.2853	+0.232%	$10K	—	3x	as long as short
KuCoin USELESSUSDTMshort	+0.0300%	4h	0.2853	+0.211%	$5.3M	$9.7M	12x
ApeX Omni USELESSUSDT	+0.0327%	1h	0.2850	+0.123%	$41K	$698K	25x	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	+0.0410%	4h	0.2850	+0.123%	$7.1M	$7.9M	50x	as long as short
Bitget USELESSUSDT	+0.0518%	4h	0.2852	+0.207%	$5.5M	$8.8M	20x	as long as short
edgeX USELESSUSDC	+0.0584%	4h	0.2856	+0.342%	$21K	$191K	10x	as long as short
Extended USELESS-USD	+0.0592%	1h	0.2852	+0.183%	$300K	$968K	5x	as long as short
Binance USELESSUSDT	+0.0594%	4h	0.2852	+0.210%	$24.3M	$110.8M	50x	as long as short
MEXC USELESS_USDT	+0.0602%	4h	0.2853	+0.218%	$10.0M	$5.9M	50x	as long as short
Orderly PERP_USELESS_USDC	+0.1216%	4h	0.2857	+0.372%	$22K	$1.4M	10x	as long as short
Aster USELESSUSDT	+0.1280%	4h	0.2851	+0.148%	$660K	$2.2M	10x	as long as short
BingX USELESS-USDT	+0.1322%	4h	0.2854	+0.278%	—	$4.9M	—	as long as short
Bybit USELESSUSDT	+0.1385%	4h	0.2856	+0.334%	$28.9M	$43.1M	13x	as long as short
Variational Omni USELESS	+0.1388%	4h	0.2853	+0.236%	$1.2M	$1.8M	—	as long as short
Hyperliquid USELESS	+0.1512%	1h	0.2856	+0.323%	$14.6M	$19.8M	3x	as long as short
BloFin USELESS-USDT	+0.1696%	4h	0.2862	+0.559%	$1.2M	$2.0M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3006	+5.617%	$5K	$10K	5.5x	as long as short