USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0744%/8h= −81.4% APRnext payment −$3.72 per $10,000 · paid last 24h −0.143%

Price spread now: Binance against Orderly−0.171%7-day average +0.016% · you buy dearer than you sell

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

Long on Orderly Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.681%−$68 on $10k

Price spread, last 3 days (all we have)+0.252%+$25 · spread now −0.171%, 7d avg +0.016%

Together, before fees−0.429%−$43 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and Binance is 0.188% cheaper against Orderly than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.016%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_USELESS_USDC	0.2731	0.1253	pay 0.0626% / 4h	1h 26m	$21K	$1.4M	10x
Short	Binance USELESSUSDT	0.2726	0.0509	get 0.0254% / 4h	1h 26m	$23.0M	$113.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Orderly. 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 OrderlybpFee BinancebpOrdersPrice spread, now −0.171%Rate

Funding earned: −$156.19
Price spread: −0.171% → +0.016%: −$18.77
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: −$190.96
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Binance: live order book, 2 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 Orderly no order-book sample	—	—	—	—	—
Sell Binance live order book, 2 min ago	0.18 bp	13.1 bp −$13	90.5 bp −$905	doesn't fit	doesn't fit

Orderly: 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: 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	0.2726	−0.194%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2740	+0.327%	$30K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2725	−0.223%	$9.6M	$62.8M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2729	−0.055%	$26K	$145K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2732	+0.029%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2727	−0.125%	$34K	$448K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2717	−0.498%	$557K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0208%	1h	0.2731	+0.019%	$10K	—	3x	as long as short
ApeX Omni USELESSUSDT	+0.0229%	1h	0.2757	+0.956%	$39K	$699K	25x	as long as short
KuCoin USELESSUSDTM	+0.0330%	4h	0.2725	−0.212%	$5.1M	$9.8M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0374%	4h	0.2724	−0.256%	$6.8M	$8.0M	50x	as long as short
edgeX USELESSUSDC	+0.0505%	4h	0.2762	+1.144%	$21K	$190K	10x	as long as short
MEXC USELESS_USDT	+0.0508%	4h	0.2728	−0.088%	$9.8M	$5.9M	50x	as long as short
Binance USELESSUSDTshort	+0.0509%	4h	0.2726	−0.171%	$23.0M	$113.3M	50x
Extended USELESS-USD	+0.0512%	1h	0.2729	−0.064%	$287K	$965K	5x	as long as short
Bitget USELESSUSDT	+0.0534%	4h	0.2725	−0.231%	$5.2M	$9.1M	20x	as long as short
Hyperliquid USELESS	+0.0968%	1h	0.2732	+0.033%	$13.3M	$20.5M	3x	as long as short
Aster USELESSUSDT	+0.1148%	4h	0.2727	−0.145%	$631K	$2.2M	10x	as long as short
Orderly PERP_USELESS_USDClong	+0.1253%	4h	0.2731	long leg	$21K	$1.4M	10x
BingX USELESS-USDT	+0.1354%	4h	0.2730	−0.022%	—	$5.0M	—	as long as short
Bybit USELESSUSDT	+0.1385%	4h	0.2727	−0.143%	$27.2M	$44.5M	13x	as long as short
Variational Omni USELESS	+0.1515%	4h	0.2775	+1.619%	$1.1M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.1818%	4h	0.2742	+0.395%	$1.2M	$1.9M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2934	+7.437%	$5K	$9K	5.5x	as long as short