USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0860%/8h= +94.2% APRnext payment +$4.30 per $10,000 · paid last 24h +0.120%

Price spread now: BingX against OKX+0.032%7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$800.795% of the position

Long on OKX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.230%+$23 on $10k

Price spread, last 7 days−0.005%$0 · spread now +0.032%, 7d avg +0.054%

Together, before fees+0.226%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.022% cheaper against OKX than usual: you would sell low and buy high (spread +0.032% now, against its 7-day average of +0.054%). If the spread goes back, that is −$2 on $10k: about 2 hours of funding at the current rate (+$26 a day). At the pace of the last 7 days (+0.230% in total) that is about 16 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.230% in total (about 12.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.30 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	OKX USELESS-USDT-SWAP	0.2803	0.0100	pay 0.0050% / 4h	24m 28s	$9.9M	$66.2M	10x
Short	BingX USELESS-USDT	0.2803	0.0960	get 0.0480% / 4h	24m 28s	—	$5.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against OKX. 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 OKXbpFee BingXbpOrdersPrice spread, now +0.032%Rate

Funding earned: $180.6
Price spread: +0.032% → +0.054%: −$2.18
Slippage, 4 orders: −$59.52
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $98.9
Costs to cover: 0.795%
Break-even: 3.2 days

Slippage from OKX: live order book, 4 min ago; BingX: live order book, 11 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 OKX live order book, 4 min ago	0.35 bp	22.5 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	3.37 bp	24.4 bp −$24	82.8 bp −$828	424.2 bp −$42.4K	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	0.2807	+0.175%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2805	+0.100%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAPlong	+0.0100%	4h	0.2803	long leg	$9.9M	$66.2M	10x
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2803	+0.018%	$36K	$159K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2809	+0.243%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2806	+0.128%	$18K	$496K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2807	+0.143%	$569K	$1.2M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0147%	1h	0.2815	+0.442%	$39K	$702K	25x	as long as short
Aevo USELESS-PERP	+0.0200%	1h	0.2806	+0.121%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0226%	4h	0.2804	+0.036%	$5.2M	$10.0M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0310%	4h	0.2804	+0.064%	$5.3M	$9.4M	20x	as long as short
Gate USELESS_USDT	+0.0352%	4h	0.2799	−0.132%	$7.0M	$8.3M	50x	as long as short
Extended USELESS-USD	+0.0496%	1h	0.2803	+0.003%	$295K	$966K	5x	as long as short
edgeX USELESSUSDC	+0.0497%	4h	0.2823	+0.714%	$21K	$191K	10x	as long as short
Binance USELESSUSDT	+0.0500%	4h	0.2804	+0.035%	$23.6M	$116.2M	50x	as long as short
MEXC USELESS_USDT	+0.0504%	4h	0.2807	+0.168%	$10.3M	$6.0M	50x	as long as short
BingX USELESS-USDTshort	+0.0960%	4h	0.2803	+0.032%	—	$5.0M	—
Bybit USELESSUSDT	+0.0967%	4h	0.2804	+0.061%	$27.6M	$45.7M	13x	as long as short
Aster USELESSUSDT	+0.1078%	4h	0.2805	+0.093%	$645K	$2.3M	10x	as long as short
Variational Omni USELESS	+0.1121%	4h	0.2811	+0.315%	$1.2M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.1267%	4h	0.2810	+0.268%	$1.2M	$2.0M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1324%	4h	0.2811	+0.310%	$22K	$1.4M	10x	as long as short
Hyperliquid USELESS	+0.1553%	1h	0.2809	+0.241%	$14.0M	$21.0M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2972	+6.027%	$5K	$9K	5.5x	as long as short