USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0929%/8h= +101.8% APRnext payment +$4.65 per $10,000 · paid last 24h +0.078%

Price spread now: Variational Omni against Phemex+0.561%7-day average +0.103% · you sell dearer than you buy

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

Long on Phemex Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.150%+$15 on $10k

Price spread, last 3 days (all we have)−0.387%−$39 · spread now +0.561%, 7d avg +0.103%

Together, before fees−0.236%+ Points / potential airdropVariational Omni: Active · farm board−$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$28 a day on $10k at the current rate, and Variational Omni is 0.458% dearer against Phemex than usual: you sell high and buy low: +$46 more if the spread goes back to its 7-day average of +0.103%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.150% in total (about 16.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.65 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	0.2807	0.0100	pay 0.0050% / 4h	8m 47s	$575K	$1.2M	20x
Short	Variational Omni USELESS	0.2823	0.1029	get 0.0515% / 4h	8m 47s	$1.2M	$1.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.561%Rate

Funding earned: $195.16
Price spread: +0.561% → +0.103%: $45.8
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $228.96
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Phemex: live order book, 4 min ago; Variational Omni: RFQ quote, just now. 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	39.67 bp	80.0 bp −$80	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, just now	5.33 bp	doesn't fit	58.7 bp −$587	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	0.2814	+0.232%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2815	+0.285%	$32K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2811	+0.125%	$9.9M	$66.4M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2811	+0.142%	$40K	$163K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2816	+0.303%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2818	+0.399%	$19K	$499K	20x	as long as short
Phemex USELESSUSDTlong	+0.0100%	4h	0.2807	long leg	$575K	$1.2M	20x
ApeX Omni USELESSUSDT	+0.0102%	1h	0.2812	+0.167%	$39K	$701K	25x	as long as short
KuCoin USELESSUSDTM	+0.0206%	4h	0.2811	+0.146%	$5.2M	$10.0M	12x	as long as short
Aevo USELESS-PERP	+0.0208%	1h	0.2817	+0.347%	$10K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0300%	4h	0.2813	+0.221%	$5.3M	$9.4M	20x	as long as short
Gate USELESS_USDT	+0.0362%	4h	0.2812	+0.167%	$7.0M	$8.3M	50x	as long as short
Extended USELESS-USD	+0.0496%	1h	0.2815	+0.258%	$297K	$966K	5x	as long as short
Binance USELESSUSDT	+0.0496%	4h	0.2813	+0.196%	$23.7M	$116.5M	50x	as long as short
edgeX USELESSUSDC	+0.0496%	4h	0.2818	+0.398%	$21K	$192K	10x	as long as short
MEXC USELESS_USDT	+0.0502%	4h	0.2815	+0.278%	$10.4M	$6.0M	50x	as long as short
BingX USELESS-USDT	+0.0890%	4h	0.2812	+0.175%	—	$5.0M	—	as long as short
Bybit USELESSUSDT	+0.0953%	4h	0.2813	+0.185%	$27.6M	$45.8M	13x	as long as short
Variational Omni USELESSshort	+0.1029%	4h	0.2823	+0.561%	$1.2M	$1.8M	—
Aster USELESSUSDT	+0.1065%	4h	0.2818	+0.370%	$647K	$2.3M	10x	as long as short
BloFin USELESS-USDT	+0.1228%	4h	0.2813	+0.203%	$1.2M	$2.0M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1315%	4h	0.2817	+0.338%	$22K	$1.4M	10x	as long as short
Hyperliquid USELESS	+0.1474%	1h	0.2815	+0.281%	$14.0M	$21.1M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2983	+6.269%	$5K	$9K	5.5x	as long as short