USELESS

Alert

Funding spread now, next payment 20:00 UTC−0.0533%/8h

next payment, per $10,000−$2.66paid, last 24h−0.062%paid, last 5 days+0.111%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 5 days it paid 0.111% in total (about 8.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.66 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	Orderly PERP_USELESS_USDC	0.2900	0.0936	pay 0.0468% / 4h	2h 17m	$22K	$1.4M	10x
Short	BloFin USELESS-USDT	0.2906	0.0403	get 0.0202% / 4h	2h 17m	$1.2M	$1.7M	12x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee OrderlybpFee BloFinbpOrdersRate

Funding earned: −$111.84
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$129.84
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; BloFin: live order book, 1 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.231%
Avg gap 7d: +0.060%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 BloFin live order book, 1 min ago	3.44 bp	23.1 bp −$23	41.4 bp −$414	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.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective USELESS/USDC PERP	−0.5000%	1h	$855	$20K	5.5x	as long as short
Lighter USELESS	+0.0096%	1h	$1.3M	$1.0M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	$29K	$74K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	$9.9M	$58.3M	10x	as long as short
Gate USELESS_USDT	+0.0100%	4h	$6.9M	$6.4M	50x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	$5.3M	$7.7M	12x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	$5.4M	$7.0M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	$36K	$693K	25x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	$28K	$114K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	—	$1.3M	10x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
HTX USELESS-USDT	+0.0100%	4h	$21K	$337K	20x	as long as short
Bybit USELESSUSDT	+0.0127%	4h	$28.5M	$37.0M	13x	as long as short
Phemex USELESSUSDT	+0.0153%	4h	$524K	$1.3M	20x	as long as short
Aevo USELESS-PERP	+0.0184%	1h	$10K	—	3x	as long as short
Variational Omni USELESS	+0.0325%	4h	$1.3M	$1.5M	—	as long as short
edgeX USELESSUSDC	+0.0386%	4h	$22K	$186K	10x	as long as short
BingX USELESS-USDT	+0.0398%	4h	—	$4.4M	—	as long as short
BloFin USELESS-USDTshort	+0.0403%	4h	$1.2M	$1.7M	12x
Binance USELESSUSDT	+0.0406%	4h	$24.7M	$92.2M	50x	as long as short
Extended USELESS-USD	+0.0408%	1h	$271K	$915K	5x	as long as short
MEXC USELESS_USDT	+0.0412%	4h	$18.9M	$4.9M	50x	as long as short
Hyperliquid USELESS	+0.0924%	1h	$14.2M	$15.2M	3x	as long as short
Orderly PERP_USELESS_USDClong	+0.0936%	4h	$22K	$1.4M	10x
Aster USELESSUSDT	+0.0976%	4h	$699K	$1.7M	10x	as long as short