USELESS

Alert

Funding spread now, next payment 16:00 UTC−0.1155%/8h

paid, last 24h−0.111%paid, last 7 days−0.630%to open and close $10k−$271

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.630% in total (about -32.8% a year). A funding rate is set anew for every payment. 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	Hyperliquid USELESS	0.2776	0.1255	pay 0.0157% / 1h	58m 39s	$12.0M	$13.1M	3x
Short	Phemex USELESSUSDT	0.2765	0.0100	get 0.0050% / 4h	58m 39s	$501K	$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 HyperliquidbpFee PhemexbpOrdersRate

Funding earned: −$242.48
Slippage, 4 orders: −$250.29
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$513.76
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; Phemex: live order book, 1 min ago.

Price risk

price view

Price gap now: −0.367%
Avg gap 7d: −0.037%

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 Hyperliquid live order book, 5 min ago	2.88 bp	12.6 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	36.49 bp	75.3 bp −$75	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	$18K	5.5x	as long as short
Lighter USELESS	+0.0096%	1h	$1.3M	$773K	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	$50.9M	10x	as long as short
Gate USELESS_USDT	+0.0100%	4h	$6.4M	$5.5M	50x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	$5.0M	$6.5M	12x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	$42K	$678K	25x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	$54K	$167K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	—	$1.3M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	$21K	$299K	20x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Phemex USELESSUSDTshort	+0.0100%	4h	$501K	$1.4M	20x
Aevo USELESS-PERP	+0.0192%	1h	$10K	—	3x	as long as short
Bitget USELESSUSDT	+0.0220%	4h	$5.3M	$6.1M	20x	as long as short
MEXC USELESS_USDT	+0.0430%	4h	$16.8M	$4.2M	50x	as long as short
Binance USELESSUSDT	+0.0430%	4h	$23.4M	$82.5M	50x	as long as short
Extended USELESS-USD	+0.0432%	1h	$261K	$915K	5x	as long as short
edgeX USELESSUSDC	+0.0447%	4h	$21K	$184K	10x	as long as short
Bybit USELESSUSDT	+0.0507%	4h	$26.8M	$33.1M	13x	as long as short
BingX USELESS-USDT	+0.0536%	4h	—	$3.9M	—	as long as short
Variational Omni USELESS	+0.0664%	4h	$1.2M	$1.5M	—	as long as short
BloFin USELESS-USDT	+0.0770%	4h	$1.1M	$1.6M	12x	as long as short
Aster USELESSUSDT	+0.0891%	4h	$603K	$1.2M	10x	as long as short
Orderly PERP_USELESS_USDC	+0.1088%	4h	$18K	$1.4M	10x	as long as short
Hyperliquid USELESSlong	+0.1255%	1h	$12.0M	$13.1M	3x