USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0478%/8h= −52.3% APRnext payment −$2.39 per $10,000 · paid last 24h −0.101%

Price spread now: Gate against MEXC+0.110%7-day average −0.110% · you sell dearer than you buy

Net, funding: paid 7d − costs−$152as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1371.366% of the position

Long on MEXC Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.157%−$16 on $10k

Price spread, last 7 days−0.203%−$20 · spread now +0.110%, 7d avg −0.110%

Together, before fees−0.360%−$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.220% dearer against MEXC than usual: you sell high and buy low (spread +0.110% now, against its 7-day average of −0.110%): +$22 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 37 hours. At the pace of the last 7 days (−0.157% in total) that is about 9.8 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.157% in total (about -8.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.39 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	MEXC USELESS_USDT	0.2817	0.0578	pay 0.0289% / 4h	1h 59m	$11.0M	$5.9M	50x
Short	Gate USELESS_USDT	0.2821	0.0100	get 0.0050% / 4h	1h 59m	$7.1M	$8.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against MEXC. 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 MEXCbpFee GatebpOrdersPrice spread, now +0.110%Rate

Funding earned: −$100.38
Price spread: +0.110% → −0.110%: $21.96
Slippage, 4 orders: −$113.64
Fee MEXC: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$215.06
Costs to cover: 1.366%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Gate: 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 MEXC live order book, 3 min ago	0.18 bp	10.5 bp −$11	50.7 bp −$507	172.0 bp −$17.2K	doesn't fit
Sell Gate live order book, 4 min ago	8.70 bp	45.9 bp −$46	doesn't fit	doesn't fit	doesn't fit

USELESS on 23 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	0.2823	+0.202%	$1.3M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2820	+0.078%	$14.0M	$20.7M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2823	+0.199%	$31K	$70K	3x	as long as short
Gate USELESS_USDTshort	+0.0100%	4h	0.2821	+0.110%	$7.1M	$8.4M	50x
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2819	+0.057%	$28K	$204K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2818	+0.035%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2807	−0.358%	$18K	$503K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2807	−0.355%	$610K	$1.1M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0126%	4h	0.2819	+0.064%	$10.0M	$66.1M	10x	as long as short
Aevo USELESS-PERP	+0.0224%	1h	0.2817	−0.023%	$10K	—	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTM	+0.0226%	4h	0.2822	+0.146%	$5.2M	$10.4M	12x	as long as short
edgeX USELESSUSDC	+0.0552%	4h	0.2812	−0.203%	$21K	$195K	10x	as long as short
Extended USELESS-USD	+0.0576%	1h	0.2824	+0.247%	$300K	$1.1M	5x	as long as short
MEXC USELESS_USDTlong	+0.0578%	4h	0.2817	long leg	$11.0M	$5.9M	50x
Bitget USELESSUSDT	+0.0582%	4h	0.2823	+0.202%	$5.4M	$9.9M	20x	as long as short
Binance USELESSUSDT	+0.0595%	4h	0.2822	+0.160%	$23.9M	$117.0M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0736%	1h	0.2808	−0.334%	$39K	$700K	25x	as long as short
BingX USELESS-USDT	+0.0802%	4h	0.2822	+0.160%	—	$5.1M	—	as long as short
Variational Omni USELESS	+0.0921%	4h	0.2810	−0.259%	$1.2M	$1.7M	—	as long as short
Bybit USELESSUSDT	+0.1007%	4h	0.2822	+0.153%	$27.4M	$46.2M	13x	as long as short
Aster USELESSUSDT	+0.1107%	4h	0.2823	+0.195%	$628K	$2.3M	10x	as long as short
Orderly PERP_USELESS_USDC	+0.1337%	4h	0.2819	+0.060%	$22K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2977	+5.661%	$5K	$9K	5.5x	as long as short