Funding you earn now, next payment 11:00 UTC−0.0508%/8h= −55.6% APRpaid last 24h −0.083%
Price spread now: Phemex against Extended−0.111%7-day average −0.002% · you buy dearer than you sell
Net, funding: paid 7d − costs−$350as in the Funding arb table
Net, price: spread back to 7d avg − costs−$350as in the Price arb table
costs, in and out, $10k−$3393.387% of the position
Funding, last 7 days−0.115%−$12 on $10k
+Price spread, last 4 days (all we have)−0.177%−$18 · spread now −0.111%, 7d avg −0.002%
=Together, before fees−0.292%+ Points / potential airdropExtended: Active · farm board−$29 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Phemex is 0.110% cheaper against Extended than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.002%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.115% in total (about -6.0% a year). A funding rate is set anew for every payment. 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 | Extended USELESS-USD | 0.2958 | 0.0608 | pay 0.0076% / 1h | 52m 17s | $281K | $1.7M | 5x |
| Short | Phemex USELESSUSDT | 0.2955 | 0.0100 | get 0.0050% / 4h | 1h 52m | $694K | $1.3M | 20x |
Extended USELESS-USD
Phemex USELESSUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Extended. 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
- −$106.68
- Price spread: −0.111% → −0.002%
- −$10.96
- Slippage, 4 orders
- −$321.7
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$456.33
- Costs to cover
- 3.387%
- Break-even
- never at this rate
Slippage from Extended: live order book, 4 min ago; Phemex: live order book, 4 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 Extended live order book, 4 min ago | 59.53 bp | 77.4 bp −$77 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 23.06 bp | 131.0 bp −$131 | doesn't fit | 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 | +7.756% | $5K | $10K | 5.5x | as long as short |
| Lighter USELESS | +0.0096% | 1h | 0.2959 | +0.034% | $1.4M | $1.1M | 3x | as long as short |
| Pacifica USELESS | +0.0100% | 1h | 0.2960 | +0.064% | $31K | $18K | 3x | as long as short |
| Polymarket Perps USELESS-USD | +0.0100% | 1h | 0.2955 | −0.091% | $29K | $284K | 3x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2962 | +0.129% | — | $1.3M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2953 | −0.155% | $38K | $545K | 20x | as long as short |
| Phemex USELESSUSDTshort | +0.0100% | 4h | 0.2955 | −0.111% | $694K | $1.3M | 20x | |
| KuCoin USELESSUSDTM | +0.0128% | 4h | 0.2960 | +0.085% | $5.5M | $10.6M | 12x | as long as short |
| OKX USELESS-USDT-SWAP | +0.0138% | 4h | 0.2963 | +0.169% | $11.0M | $74.4M | 10x | as long as short |
| Aevo USELESS-PERP | +0.0232% | 1h | 0.2958 | −0.003% | $11K | — | 3x | as long as short |
Injective USELESS/USDC PERP
Lighter USELESS
Pacifica USELESS
Polymarket Perps USELESS-USD
SunX USELESS-USDT
HTX USELESS-USDT
KuCoin USELESSUSDTM
OKX USELESS-USDT-SWAP
Aevo USELESS-PERPShow all 24 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget USELESSUSDT | +0.0256% | 4h | 0.2959 | +0.024% | $5.8M | $10.7M | 20x | as long as short |
| Gate USELESS_USDT | +0.0452% | 4h | 0.2955 | −0.101% | $7.4M | $8.4M | 50x | as long as short |
| Aster USELESSUSDT | +0.0490% | 4h | 0.2961 | +0.116% | $642K | $2.4M | 10x | as long as short |
| edgeX USELESSUSDC | +0.0579% | 4h | 0.2957 | −0.020% | $22K | $200K | 10x | as long as short |
| MEXC USELESS_USDT | +0.0604% | 4h | 0.2960 | +0.068% | $15.7M | $7.0M | 50x | as long as short |
| Extended USELESS-USDlong | +0.0608% | 1h | 0.2958 | long leg | $281K | $1.7M | 5x | |
| Binance USELESSUSDT | +0.0611% | 4h | 0.2960 | +0.084% | $25.5M | $131.5M | 50x | as long as short |
| ApeX Omni USELESSUSDT | +0.0762% | 1h | 0.2950 | −0.270% | $56K | $687K | 25x | as long as short |
| Hyperliquid USELESS | +0.0996% | 1h | 0.2959 | +0.051% | $13.7M | $22.9M | 3x | as long as short |
| BingX USELESS-USDT | +0.1048% | 4h | 0.2960 | +0.082% | — | $5.7M | — | as long as short |
| Orderly PERP_USELESS_USDC | +0.1127% | 4h | 0.2961 | +0.095% | $24K | $1.9M | 10x | as long as short |
| Bybit USELESSUSDT | +0.1155% | 4h | 0.2962 | +0.122% | $29.1M | $52.3M | 13x | as long as short |
| Variational Omni USELESS | +0.1163% | 4h | 0.2963 | +0.183% | $1.2M | $1.9M | — | as long as short |
| BloFin USELESS-USDT | +0.1464% | 4h | 0.2969 | +0.362% | $1.3M | $2.3M | 12x | as long as short |
Bitget USELESSUSDT
Gate USELESS_USDT
Aster USELESSUSDT
edgeX USELESSUSDC
MEXC USELESS_USDT
Binance USELESSUSDT
ApeX Omni USELESSUSDT
Hyperliquid USELESS
BingX USELESS-USDT
Orderly PERP_USELESS_USDC
Bybit USELESSUSDT
Variational Omni USELESS
BloFin USELESS-USDT