USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0496%/8h= −54.3% APRnext payment −$2.48 per $10,000 · paid last 24h −0.044%

Price spread now: Phemex against MEXC−0.022%50s7-day average −0.023% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 4 days (all we have)−0.596%−$60 · spread now −0.022%, 7d avg −0.023%

Together, before fees−0.658%−$66 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.023%, so right now this pair is about funding alone: −$15 a day on $10k at the current rate. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.062% in total (about -3.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.48 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	0.2747	0.0596	pay 0.0298% / 4h	1h 29m	$10.8M	$6.0M	50x
Short	Phemex USELESSUSDT	0.2747	0.0100	get 0.0050% / 4h	1h 29m	$606K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$104.16
Price spread: −0.022% → −0.023%: $0.14
Slippage, 4 orders: no order book: not counted
Fee MEXC: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$124.02
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 4 min ago; Phemex: live order book, 3 min ago. Net counts fees only.

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	0.18 bp	14.0 bp −$14	40.2 bp −$402	145.1 bp −$14.5K	doesn't fit
Sell Phemex live order book, 3 min ago	21.99 bp	66.3 bp −$66	doesn't fit	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	0.2745	−0.095%	$1.2M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2746	−0.039%	$30K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2743	−0.153%	$6.9M	$8.5M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	0.2752	+0.167%	$38K	$693K	25x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2746	−0.069%	$35K	$212K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2754	+0.258%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2739	−0.295%	$18K	$509K	20x	as long as short
Phemex USELESSUSDTshort	+0.0100%	4h	0.2747	−0.022%	$606K	$1.1M	20x
OKX USELESS-USDT-SWAP	+0.0150%	4h	0.2744	−0.127%	$9.7M	$64.4M	10x	as long as short
KuCoin USELESSUSDTM	+0.0216%	4h	0.2747	−0.029%	$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	+0.0232%	1h	0.2749	+0.056%	$10K	—	3x	as long as short
Bitget USELESSUSDT	+0.0518%	4h	0.2747	−0.022%	$5.3M	$9.9M	20x	as long as short
edgeX USELESSUSDC	+0.0566%	4h	0.2760	+0.469%	$21K	$196K	10x	as long as short
Binance USELESSUSDT	+0.0592%	4h	0.2748	+0.015%	$23.3M	$117.9M	50x	as long as short
MEXC USELESS_USDTlong	+0.0596%	4h	0.2747	long leg	$10.8M	$6.0M	50x
Extended USELESS-USD	+0.0600%	1h	0.2745	−0.073%	$289K	$1.1M	5x	as long as short
Hyperliquid USELESS	+0.0680%	1h	0.2750	+0.084%	$13.5M	$20.9M	3x	as long as short
BingX USELESS-USDT	+0.0818%	4h	0.2748	+0.033%	—	$5.2M	—	as long as short
Bybit USELESSUSDT	+0.0874%	4h	0.2745	−0.084%	$26.5M	$46.5M	13x	as long as short
Variational Omni USELESS	+0.0953%	4h	0.2752	+0.176%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1036%	4h	0.2748	+0.007%	$580K	$2.3M	10x	as long as short
BloFin USELESS-USDT	+0.1188%	4h	0.2754	+0.229%	$1.2M	$2.0M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1356%	4h	0.2747	−0.015%	$21K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2918	+6.199%	$5K	$9K	5.5x	as long as short