USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0481%/8h= −52.7% APRnext payment −$2.40 per $10,000 · paid last 24h −0.104%

Price spread now: OKX against Binance+0.010%7-day average −0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$640.635% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.216%−$22 on $10k

Price spread, last 7 days−0.055%−$5 · spread now +0.010%, 7d avg −0.069%

Together, before fees−0.271%−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.079% dearer against Binance than usual: you sell high and buy low (spread +0.010% now, against its 7-day average of −0.069%): +$8 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.216% in total) that is about 2.6 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.216% in total (about -11.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.40 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance USELESSUSDT	0.2965	0.0604	pay 0.0302% / 4h	1h 53m	$25.5M	$131.5M	50x
Short	OKX USELESS-USDT-SWAP	0.2966	0.0123	get 0.0062% / 4h	1h 53m	$11.0M	$74.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Binance. 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 BinancebpFee OKXbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$100.99
Price spread: +0.010% → −0.069%: $7.93
Slippage, 4 orders: −$43.53
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$156.6
Costs to cover: 0.635%
Break-even: never at this rate

Slippage from Binance: live order book, 12 min ago; OKX: 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 Binance live order book, 12 min ago	0.84 bp	13.8 bp −$14	37.0 bp −$370	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	1.18 bp	19.7 bp −$20	88.4 bp −$884	doesn't fit	doesn't fit

USELESS on 24 exchanges

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
Injective USELESS/USDC PERP	+0.0033%	1h	0.3187	+7.483%	$5K	$10K	5.5x	as long as short
Lighter USELESS	+0.0096%	1h	0.2964	−0.064%	$1.4M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2958	−0.257%	$31K	$18K	3x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2956	−0.334%	$29K	$284K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2962	−0.132%	—	$1.3M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2946	−0.644%	$38K	$546K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2948	−0.590%	$691K	$1.3M	20x	as long as short
KuCoin USELESSUSDTM	+0.0120%	4h	0.2961	−0.162%	$5.5M	$10.6M	12x	as long as short
OKX USELESS-USDT-SWAPshort	+0.0123%	4h	0.2966	+0.010%	$11.0M	$74.5M	10x
Aevo USELESS-PERP	+0.0232%	1h	0.2955	−0.367%	$11K	—	3x	as long as short

Show all 24 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0250%	4h	0.2964	−0.057%	$5.8M	$10.8M	20x	as long as short
Gate USELESS_USDT	+0.0376%	4h	0.2957	−0.287%	$7.4M	$8.4M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0377%	1h	0.2937	−0.961%	$56K	$688K	25x	as long as short
Aster USELESSUSDT	+0.0480%	4h	0.2963	−0.078%	$642K	$2.4M	10x	as long as short
edgeX USELESSUSDC	+0.0579%	4h	0.2957	−0.274%	$22K	$200K	10x	as long as short
Binance USELESSUSDTlong	+0.0604%	4h	0.2965	long leg	$25.5M	$131.5M	50x
Extended USELESS-USD	+0.0608%	1h	0.2963	−0.097%	$281K	$1.7M	5x	as long as short
MEXC USELESS_USDT	+0.0608%	4h	0.2967	+0.034%	$15.7M	$7.0M	50x	as long as short
Hyperliquid USELESS	+0.0933%	1h	0.2965	−0.010%	$13.7M	$22.9M	3x	as long as short
BingX USELESS-USDT	+0.1048%	4h	0.2964	−0.064%	—	$5.7M	—	as long as short
Orderly PERP_USELESS_USDC	+0.1118%	4h	0.2963	−0.091%	$24K	$1.9M	10x	as long as short
Bybit USELESSUSDT	+0.1126%	4h	0.2963	−0.098%	$29.1M	$52.3M	13x	as long as short
Variational Omni USELESS	+0.1163%	4h	0.2963	−0.071%	$1.2M	$1.9M	—	as long as short
BloFin USELESS-USDT	+0.1497%	4h	0.2956	−0.327%	$1.3M	$2.3M	12x	as long as short