USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.1258%/8h= −137.8% APRnext payment −$6.29 per $10,000 · paid last 24h −0.141%

Price spread now: OKX against BingX+0.502%7-day average −0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$670.668% of the position

Long on BingX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.312%−$31 on $10k

Price spread, last 7 days−0.539%−$54 · spread now +0.502%, 7d avg −0.056%

Together, before fees−0.851%−$85 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.558% dearer against BingX than usual: you sell high and buy low (spread +0.502% now, against its 7-day average of −0.056%): +$56 on $10k if it goes back. Holding the pair costs −$38 a day in funding at the current rate, which eats that in about 35 hours. At the pace of the last 7 days (−0.312% in total) that is about 13 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.312% in total (about -16.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$6.29 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	BingX USELESS-USDT	0.2928	0.1358	pay 0.0679% / 4h	2h 58m	—	$5.7M	—
Short	OKX USELESS-USDT-SWAP	0.2943	0.0100	get 0.0050% / 4h	2h 58m	$10.8M	$77.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against BingX. 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 BingXbpFee OKXbpOrdersPrice spread, now +0.502%Rate

Funding earned: −$264.18
Price spread: +0.502% → −0.056%: $55.75
Slippage, 4 orders: −$46.83
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$275.26
Costs to cover: 0.668%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; OKX: live order book, 6 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 BingX live order book, 2 min ago	2.66 bp	15.9 bp −$16	37.2 bp −$372	280.8 bp −$28.1K	doesn't fit
Sell OKX live order book, 6 min ago	1.67 bp	17.7 bp −$18	78.6 bp −$786	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	0.2943	+0.488%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2941	+0.433%	$31K	$20K	3x	as long as short
OKX USELESS-USDT-SWAPshort	+0.0100%	4h	0.2943	+0.502%	$10.8M	$77.0M	10x
KuCoin USELESSUSDTM	+0.0100%	4h	0.2928	−0.020%	$5.4M	$10.9M	12x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2934	+0.201%	$5.7M	$11.5M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2932	+0.102%	$28K	$284K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2940	+0.406%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2940	+0.379%	$40K	$562K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2937	+0.277%	$670K	$1.3M	20x	as long as short
Hyperliquid USELESS	+0.0104%	1h	0.2935	+0.228%	$13.4M	$24.0M	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo USELESS-PERP	+0.0232%	1h	0.2935	+0.222%	$11K	—	3x	as long as short
Aster USELESSUSDT	+0.0306%	4h	0.2935	+0.208%	$650K	$2.4M	10x	as long as short
Gate USELESS_USDT	+0.0380%	4h	0.2942	+0.444%	$7.4M	$8.7M	50x	as long as short
edgeX USELESSUSDC	+0.0576%	4h	0.3010	+2.781%	$23K	$201K	10x	as long as short
Binance USELESSUSDT	+0.0591%	4h	0.2935	+0.215%	$25.4M	$134.8M	50x	as long as short
Extended USELESS-USD	+0.0592%	1h	0.2927	−0.065%	$282K	$1.6M	5x	as long as short
MEXC USELESS_USDT	+0.0598%	4h	0.2932	+0.106%	$14.8M	$6.8M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0871%	1h	0.3006	+2.646%	$56K	$691K	25x	as long as short
Orderly PERP_USELESS_USDC	+0.0980%	4h	0.2931	+0.082%	$21K	$2.0M	10x	as long as short
Variational Omni USELESS	+0.1077%	4h	0.3011	+2.803%	$1.3M	$1.7M	—	as long as short
Bybit USELESSUSDT	+0.1320%	4h	0.2947	+0.618%	$29.4M	$53.7M	13x	as long as short
BingX USELESS-USDTlong	+0.1358%	4h	0.2928	long leg	—	$5.7M	—
BloFin USELESS-USDT	+0.1881%	4h	0.2970	+1.427%	$1.3M	$2.3M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3187	+8.841%	$5K	$10K	5.5x	as long as short