USELESS

Alert

Funding spread now, next payment 17:00 UTC+0.5756%/8h

paid, last 24h+1.556%paid, last 4 days+1.380%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 4 days it paid 1.380% in total (about 138.0% 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	Injective USELESS/USDC PERP	0.2689	−0.5000	get 0.0625% / 1h	25m 19s	$3K	$18K	5.5x
Short	Bybit USELESSUSDT	0.2840	0.0756	get 0.0378% / 4h	3h 25m	$27.9M	$36.4M	13x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee BybitbpOrdersRate

Funding earned: $1,208.79
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $1,197.77
Break-even: 0.1 days

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 5 min ago. Net counts fees only.

Price risk

price view

Price gap now: +5.604%
Avg gap 7d: —

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 Injective no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	1.74 bp	18.9 bp −$19	38.8 bp −$388	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

USELESS on 24 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective USELESS/USDC PERPlong	−0.5000%	1h	$3K	$18K	5.5x
Lighter USELESS	+0.0096%	1h	$1.3M	$952K	3x	as long as short
Pacifica USELESS	+0.0100%	1h	$28K	$104K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	$9.7M	$55.7M	10x	as long as short
Gate USELESS_USDT	+0.0100%	4h	$6.6M	$6.1M	50x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	$5.2M	$7.2M	12x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	$37K	$689K	25x	as long as short
SunX USELESS-USDT	+0.0100%	4h	—	$1.3M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	$21K	$320K	20x	as long as short
Phemex USELESSUSDT	+0.0188%	4h	$509K	$1.3M	20x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Aevo USELESS-PERP	+0.0200%	1h	$10K	—	3x	as long as short
Bitget USELESSUSDT	+0.0202%	4h	$5.4M	$6.7M	20x	as long as short
Variational Omni USELESS	+0.0467%	4h	$1.2M	$1.5M	—	as long as short
Binance USELESSUSDT	+0.0493%	4h	$24.1M	$89.2M	50x	as long as short
Extended USELESS-USD	+0.0496%	1h	$265K	$917K	5x	as long as short
MEXC USELESS_USDT	+0.0496%	4h	$18.0M	$4.7M	50x	as long as short
edgeX USELESSUSDC	+0.0498%	4h	$22K	$184K	10x	as long as short
BingX USELESS-USDT	+0.0662%	4h	—	$4.2M	—	as long as short
Bybit USELESSUSDTshort	+0.0756%	4h	$27.9M	$36.4M	13x
Polymarket Perps USELESS-USD	+0.0807%	1h	$33K	$112K	3x	as long as short
Orderly PERP_USELESS_USDC	+0.0968%	4h	$22K	$1.4M	10x	as long as short
Hyperliquid USELESS	+0.0972%	1h	$13.5M	$14.4M	3x	as long as short
BloFin USELESS-USDT	+0.1052%	4h	$1.2M	$1.7M	12x	as long as short
Aster USELESSUSDT	+0.1102%	4h	$675K	$1.4M	10x	as long as short