USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0570%/8h= −62.4% APRnext payment −$0.71 per $10,000 · paid last 24h −0.230%

Price spread now: ApeX Omni against Hyperliquid−0.005%7-day average −0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$167as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$850.854% of the position

Long on Hyperliquid Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.820%−$82 on $10k

Price spread, last 4 days (all we have)−0.121%−$12 · spread now −0.005%, 7d avg −0.086%

Together, before fees−0.941%+ Points / potential airdropHyperliquid: Season 2 · farm board−$94 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.081% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.005% now, against its 7-day average of −0.086%): +$8 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid USELESS	0.2745	0.0670	pay 0.0084% / 1h	35m 32s	$13.4M	$20.9M	3x
Short	ApeX Omni USELESSUSDT	0.2745	0.0100	get 0.0013% / 1h	35m 32s	$38K	$694K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Hyperliquid. 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 HyperliquidbpFee ApeX OmnibpOrdersPrice spread, now −0.005%Rate

Funding earned: −$119.66
Price spread: −0.005% → −0.086%: $8.09
Slippage, 4 orders: −$66.45
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$197.02
Costs to cover: 0.854%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; ApeX Omni: live order book, 28 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 Hyperliquid live order book, 7 min ago	1.99 bp	22.7 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 28 min ago	7.11 bp	15.4 bp −$15	109.9 bp −$1,099	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	0.2742	−0.103%	$1.2M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2745	−0.009%	$30K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2742	−0.096%	$6.9M	$8.5M	50x	as long as short
ApeX Omni USELESSUSDTshort	+0.0100%	1h	0.2745	−0.005%	$38K	$694K	25x
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2748	+0.105%	$33K	$211K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2752	+0.258%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2745	−0.005%	$18K	$507K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2748	+0.115%	$606K	$1.1M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0126%	4h	0.2749	+0.156%	$9.7M	$64.6M	10x	as long as short
KuCoin USELESSUSDTM	+0.0198%	4h	0.2743	−0.081%	$5.0M	$10.4M	12x	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	+0.0224%	1h	0.2747	+0.052%	$10K	—	3x	as long as short
Bitget USELESSUSDT	+0.0510%	4h	0.2746	+0.028%	$5.2M	$9.9M	20x	as long as short
Extended USELESS-USD	+0.0584%	1h	0.2745	−0.003%	$289K	$1.1M	5x	as long as short
MEXC USELESS_USDT	+0.0584%	4h	0.2745	−0.001%	$10.8M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0584%	4h	0.2748	+0.117%	$23.3M	$118.1M	50x	as long as short
edgeX USELESSUSDC	+0.0591%	4h	0.2747	+0.070%	$20K	$195K	10x	as long as short
Hyperliquid USELESSlong	+0.0670%	1h	0.2745	long leg	$13.4M	$20.9M	3x
BingX USELESS-USDT	+0.0832%	4h	0.2748	+0.101%	—	$5.1M	—	as long as short
Bybit USELESSUSDT	+0.0852%	4h	0.2747	+0.064%	$26.6M	$46.5M	13x	as long as short
Variational Omni USELESS	+0.0928%	4h	0.2748	+0.094%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1037%	4h	0.2746	+0.029%	$582K	$2.3M	10x	as long as short
BloFin USELESS-USDT	+0.1153%	4h	0.2749	+0.126%	$1.2M	$2.0M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1347%	4h	0.2748	+0.094%	$21K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2907	+5.889%	$5K	$9K	5.5x	as long as short