Funding you earn now, next payment 00:00 UTC−0.1373%/8h= −150.4% APRnext payment −$6.87 per $10,000 · paid last 24h −0.078%
Price spread now: Phemex against Variational Omni−0.540%7-day average −0.114% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.150%−$15 on $10k
+Price spread, last 3 days (all we have)+0.602%+$60 · spread now −0.540%, 7d avg −0.114%
=Together, before fees+0.452%+ Points / potential airdropVariational Omni: Active · farm board+$45 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$41 a day on $10k at the current rate, and Phemex is 0.426% cheaper against Variational Omni than usual: you would sell low and buy high (−$43 if the spread goes back to its 7-day average of −0.114%). Swap the legs.
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 -16.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$6.87 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 | Variational Omni USELESS | 0.2741 | 0.1473 | pay 0.0737% / 4h | 1h 23m | $1.1M | $1.8M | — |
| Short | Phemex USELESSUSDT | 0.2727 | 0.0100 | get 0.0050% / 4h | 1h 23m | $559K | $1.2M | 20x |
Variational Omni USELESS
Phemex USELESSUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Variational Omni. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$288.35
- Price spread: −0.540% → −0.114%
- −$42.64
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$342.99
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Phemex: live order book, 4 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 Variational Omni RFQ quote, 1 min ago | 5.49 bp | doesn't fit | 60.4 bp −$604 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 20.95 bp | 126.5 bp −$126 | 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 | 0.2734 | −0.263% | $1.3M | $1.1M | 3x | as long as short |
| Pacifica USELESS | +0.0100% | 1h | 0.2738 | −0.117% | $30K | $70K | 3x | as long as short |
| OKX USELESS-USDT-SWAP | +0.0100% | 4h | 0.2736 | −0.201% | $9.6M | $63.1M | 10x | as long as short |
| Polymarket Perps USELESS-USD | +0.0100% | 1h | 0.2740 | −0.059% | $26K | $145K | 3x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2739 | −0.088% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2742 | +0.014% | $18K | $488K | 20x | as long as short |
| Phemex USELESSUSDTshort | +0.0100% | 4h | 0.2727 | −0.540% | $559K | $1.2M | 20x | |
| ApeX Omni USELESSUSDT | +0.0198% | 1h | 0.2735 | −0.230% | $38K | $699K | 25x | as long as short |
| Aevo USELESS-PERP | +0.0208% | 1h | 0.2734 | −0.259% | $10K | — | 3x | as long as short |
| KuCoin USELESSUSDTM | +0.0330% | 4h | 0.2737 | −0.143% | $5.1M | $9.8M | 12x | as long as short |
Lighter USELESS
Pacifica USELESS
OKX USELESS-USDT-SWAP
Polymarket Perps USELESS-USD
SunX USELESS-USDT
HTX USELESS-USDT
ApeX Omni USELESSUSDT
Aevo USELESS-PERP
KuCoin USELESSUSDTMShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate USELESS_USDT | +0.0380% | 4h | 0.2738 | −0.135% | $6.9M | $8.0M | 50x | as long as short |
| edgeX USELESSUSDC | +0.0492% | 4h | 0.2737 | −0.142% | $20K | $191K | 10x | as long as short |
| MEXC USELESS_USDT | +0.0498% | 4h | 0.2742 | +0.018% | $9.9M | $5.9M | 50x | as long as short |
| Binance USELESSUSDT | +0.0501% | 4h | 0.2739 | −0.081% | $23.1M | $113.5M | 50x | as long as short |
| Extended USELESS-USD | +0.0504% | 1h | 0.2738 | −0.117% | $287K | $965K | 5x | as long as short |
| Bitget USELESSUSDT | +0.0520% | 4h | 0.2738 | −0.102% | $5.3M | $9.1M | 20x | as long as short |
| Hyperliquid USELESS | +0.0924% | 1h | 0.2743 | +0.065% | $13.4M | $20.5M | 3x | as long as short |
| Aster USELESSUSDT | +0.1137% | 4h | 0.2736 | −0.189% | $642K | $2.2M | 10x | as long as short |
| Orderly PERP_USELESS_USDC | +0.1255% | 4h | 0.2739 | −0.077% | $21K | $1.4M | 10x | as long as short |
| BingX USELESS-USDT | +0.1354% | 4h | 0.2739 | −0.084% | — | $5.0M | — | as long as short |
| Bybit USELESSUSDT | +0.1381% | 4h | 0.2738 | −0.113% | $27.4M | $44.5M | 13x | as long as short |
| Variational Omni USELESSlong | +0.1473% | 4h | 0.2741 | long leg | $1.1M | $1.8M | — | |
| BloFin USELESS-USDT | +0.1771% | 4h | 0.2734 | −0.267% | $1.2M | $1.9M | 12x | as long as short |
| Injective USELESS/USDC PERP | +0.5000% | 1h | 0.2934 | +7.029% | $5K | $9K | 5.5x | as long as short |
Gate USELESS_USDT
edgeX USELESSUSDC
MEXC USELESS_USDT
Binance USELESSUSDT
Extended USELESS-USD
Bitget USELESSUSDT
Hyperliquid USELESS
Aster USELESSUSDT
Orderly PERP_USELESS_USDC
BingX USELESS-USDT
Bybit USELESSUSDT
BloFin USELESS-USDT
Injective USELESS/USDC PERP