USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0192%/8h= −21.0% APRnext payment −$0.96 per $10,000 · paid last 24h −0.063%

Price spread now: OKX against Bitget+0.110%7-day average −0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$1041.043% of the position

Long on Bitget Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 7 days−0.188%−$19 · spread now +0.110%, 7d avg −0.054%

Together, before fees−0.283%−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.165% dearer against Bitget than usual: you sell high and buy low (spread +0.110% now, against its 7-day average of −0.054%): +$16 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.9 days. At the pace of the last 7 days (−0.096% in total) that is about 12 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.096% in total (about -5.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.96 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	Bitget USELESSUSDT	0.2536	0.0406	pay 0.0203% / 4h	42m 16s	$4.9M	$10.5M	20x
Short	OKX USELESS-USDT-SWAP	0.2539	0.0214	get 0.0107% / 4h	42m 16s	$8.8M	$62.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bitget. 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 BitgetbpFee OKXbpOrdersPrice spread, now +0.110%Rate

Funding earned: −$40.35
Price spread: +0.110% → −0.054%: $16.47
Slippage, 4 orders: −$82.29
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$128.16
Costs to cover: 1.043%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; OKX: live order book, 2 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 Bitget live order book, 1 min ago	7.07 bp	31.4 bp −$31	100.1 bp −$1,001	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	1.96 bp	21.0 bp −$21	119.2 bp −$1,192	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	0.2536	0.000%	$1.1M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2539	+0.118%	$11.4M	$22.8M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2541	+0.201%	$28K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2538	+0.059%	$6.4M	$8.7M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	0.2554	+0.694%	$33K	$699K	25x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2538	+0.071%	$35K	$219K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2539	+0.095%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2538	+0.079%	$17K	$519K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2537	+0.028%	$561K	$1.1M	20x	as long as short
Aevo USELESS-PERP	+0.0200%	1h	0.2540	+0.151%	$9K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX USELESS-USDT-SWAPshort	+0.0214%	4h	0.2539	+0.110%	$8.8M	$62.6M	10x
KuCoin USELESSUSDTM	+0.0230%	4h	0.2540	+0.158%	$4.6M	$10.7M	12x	as long as short
Bitget USELESSUSDTlong	+0.0406%	4h	0.2536	long leg	$4.9M	$10.5M	20x
Extended USELESS-USD	+0.0496%	1h	0.2538	+0.052%	$112K	$1.2M	5x	as long as short
Binance USELESSUSDT	+0.0497%	4h	0.2539	+0.115%	$21.2M	$123.5M	50x	as long as short
MEXC USELESS_USDT	+0.0506%	4h	0.2538	+0.071%	$10.2M	$6.2M	50x	as long as short
edgeX USELESSUSDC	+0.0511%	4h	0.2542	+0.207%	$19K	$197K	10x	as long as short
Aster USELESSUSDT	+0.0597%	4h	0.2539	+0.084%	$503K	$2.4M	10x	as long as short
BingX USELESS-USDT	+0.0632%	4h	0.2536	−0.020%	—	$5.3M	—	as long as short
Bybit USELESSUSDT	+0.0637%	4h	0.2539	+0.091%	$24.3M	$48.8M	13x	as long as short
Variational Omni USELESS	+0.0843%	4h	0.2536	−0.034%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.0904%	4h	0.2548	+0.453%	$1.1M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1313%	4h	0.2539	+0.110%	$19K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2703	+6.580%	$5K	$11K	5.5x	as long as short