USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0450%/8h= −49.3% APRnext payment −$2.25 per $10,000 · paid last 24h −0.103%

Price spread now: OKX against MEXC+0.234%7-day average −0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$810.810% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.192%−$19 on $10k

Price spread, last 7 days−0.268%−$27 · spread now +0.234%, 7d avg −0.071%

Together, before fees−0.460%−$46 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.306% dearer against MEXC than usual: you sell high and buy low (spread +0.234% now, against its 7-day average of −0.071%): +$31 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 2.3 days. At the pace of the last 7 days (−0.192% in total) that is about 11 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.192% in total (about -10.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.25 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	0.2815	0.0550	pay 0.0275% / 4h	2h 19m	$11.0M	$6.0M	50x
Short	OKX USELESS-USDT-SWAP	0.2821	0.0100	get 0.0050% / 4h	2h 19m	$9.9M	$66.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.234%Rate

Funding earned: −$94.5
Price spread: +0.234% → −0.071%: $30.56
Slippage, 4 orders: −$63.04
Fee MEXC: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$144.98
Costs to cover: 0.810%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; OKX: live order book, 5 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, 4 min ago	2.12 bp	24.6 bp −$25	49.1 bp −$491	159.1 bp −$15.9K	doesn't fit
Sell OKX live order book, 5 min ago	2.31 bp	19.3 bp −$19	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	0.2812	−0.092%	$1.3M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2818	+0.112%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAPshort	+0.0100%	4h	0.2821	+0.234%	$9.9M	$66.4M	10x
Gate USELESS_USDT	+0.0100%	4h	0.2811	−0.121%	$7.1M	$8.4M	50x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2815	0.000%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2812	−0.092%	$18K	$520K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2802	−0.444%	$605K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0130%	4h	0.2813	−0.064%	$5.2M	$10.3M	12x	as long as short
Aevo USELESS-PERP	+0.0216%	1h	0.2815	+0.026%	$10K	—	3x	as long as short
Polymarket Perps USELESS-USD	+0.0502%	1h	0.2813	−0.064%	$28K	$201K	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX USELESSUSDC	+0.0540%	4h	0.2816	+0.045%	$21K	$194K	10x	as long as short
MEXC USELESS_USDTlong	+0.0550%	4h	0.2815	long leg	$11.0M	$6.0M	50x
Binance USELESSUSDT	+0.0550%	4h	0.2819	+0.162%	$23.9M	$117.1M	50x	as long as short
Extended USELESS-USD	+0.0552%	1h	0.2813	−0.070%	$302K	$1.1M	5x	as long as short
Bitget USELESSUSDT	+0.0578%	4h	0.2812	−0.096%	$5.4M	$9.8M	20x	as long as short
BingX USELESS-USDT	+0.0606%	4h	0.2820	+0.203%	—	$5.1M	—	as long as short
Bybit USELESSUSDT	+0.0699%	4h	0.2818	+0.128%	$27.4M	$46.3M	13x	as long as short
ApeX Omni USELESSUSDT	+0.0775%	1h	0.2817	+0.082%	$39K	$699K	25x	as long as short
Variational Omni USELESS	+0.0863%	4h	0.2817	+0.081%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1074%	4h	0.2809	−0.202%	$626K	$2.3M	10x	as long as short
Orderly PERP_USELESS_USDC	+0.1282%	4h	0.2816	+0.039%	$22K	$1.3M	10x	as long as short
Hyperliquid USELESS	+0.1365%	1h	0.2819	+0.139%	$14.1M	$20.7M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2982	+5.954%	$5K	$9K	5.5x	as long as short