USELESS

Alert

Funding spread now, next payment 16:00 UTC−0.0396%/8h

next payment, per $10,000−$1.98paid, last 24h−0.015%paid, last 7 days−0.065%to open and close $10k−$193

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.065% in total (about -3.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.98 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	Bybit USELESSUSDT	0.2762	0.0496	pay 0.0248% / 4h	1h 47m	$26.9M	$31.7M	13x
Short	Phemex USELESSUSDT	0.2763	0.0100	get 0.0050% / 4h	1h 47m	$496K	$1.4M	20x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee BybitbpFee PhemexbpOrdersRate

Funding earned: −$83.17
Slippage, 4 orders: −$170.08
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$276.25
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Phemex: live order book, 2 min ago.

Price risk

price view

Price gap now: +0.054%
Avg gap 7d: +0.060%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Bybit live order book, 3 min ago	0.90 bp	19.4 bp −$19	45.5 bp −$455	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	35.92 bp	68.7 bp −$69	doesn't fit	doesn't fit	doesn't fit

USELESS on 24 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective USELESS/USDC PERP	−0.5000%	1h	$3K	$25K	5.5x	as long as short
Lighter USELESS	+0.0096%	1h	$1.3M	$835K	3x	as long as short
Pacifica USELESS	+0.0100%	1h	$27K	$103K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	$9.3M	$49.4M	10x	as long as short
Gate USELESS_USDT	+0.0100%	4h	$6.4M	$5.2M	50x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	$5.0M	$6.0M	12x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	$41K	$679K	25x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	$54K	$201K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	—	$1.2M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	$20K	$287K	20x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Phemex USELESSUSDTshort	+0.0100%	4h	$496K	$1.4M	20x
Bitget USELESSUSDT	+0.0188%	4h	$5.2M	$5.8M	20x	as long as short
Aevo USELESS-PERP	+0.0200%	1h	$10K	—	3x	as long as short
Hyperliquid USELESS	+0.0290%	1h	$12.0M	$12.8M	3x	as long as short
edgeX USELESSUSDC	+0.0441%	4h	$21K	$184K	10x	as long as short
Extended USELESS-USD	+0.0472%	1h	$260K	$915K	5x	as long as short
Binance USELESSUSDT	+0.0476%	4h	$23.4M	$80.1M	50x	as long as short
MEXC USELESS_USDT	+0.0480%	4h	$16.6M	$4.1M	50x	as long as short
Bybit USELESSUSDTlong	+0.0496%	4h	$26.9M	$31.7M	13x
BingX USELESS-USDT	+0.0546%	4h	—	$3.8M	—	as long as short
Variational Omni USELESS	+0.0690%	4h	$1.2M	$1.4M	—	as long as short
BloFin USELESS-USDT	+0.0759%	4h	$1.2M	$1.5M	12x	as long as short
Aster USELESSUSDT	+0.0871%	4h	$581K	$1.1M	10x	as long as short
Orderly PERP_USELESS_USDC	+0.1119%	4h	$18K	$1.4M	10x	as long as short