USELESS

Alert

Funding spread now, next payment 20:00 UTC−0.0870%/8h

next payment, per $10,000−$4.35paid, last 24h−0.132%paid, last 5 days−0.462%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_USELESS_USDC	0.2886	0.0970	pay 0.0485% / 4h	3h 03m	$22K	$1.4M	10x
Short	Phemex USELESSUSDT	0.2880	0.0100	get 0.0050% / 4h	3h 03m	$519K	$1.3M	20x

Funding history

latest

Range statsloading…

Funding on every exchange

click an exchange to add or hide it

latest

Profit calculator

Position, each leg$Hold fordaysFee OrderlybpFee PhemexbpOrdersRate

Funding earned: −$182.75
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$200.75
Break-even: never at this rate

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

Price risk

price view

Price gap now: −0.218%
Avg gap 7d: +0.053%

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 Phemex live order book, 1 min ago	37.62 bp	115.0 bp −$115	doesn't fit	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	$3K	$18K	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	$93K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	$9.8M	$56.9M	10x	as long as short
Gate USELESS_USDT	+0.0100%	4h	$6.7M	$6.2M	50x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	$5.2M	$7.4M	12x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	$34K	$692K	25x	as long as short
SunX USELESS-USDT	+0.0100%	4h	—	$1.3M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	$21K	$326K	20x	as long as short
Phemex USELESSUSDTshort	+0.0100%	4h	$519K	$1.3M	20x

Show all 24 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0126%	4h	$5.4M	$6.8M	20x	as long as short
Aevo USELESS-PERP	+0.0192%	1h	$10K	—	3x	as long as short
Bybit USELESSUSDT	+0.0365%	4h	$28.2M	$36.4M	13x	as long as short
Variational Omni USELESS	+0.0382%	4h	$1.2M	$1.5M	—	as long as short
BingX USELESS-USDT	+0.0428%	4h	—	$4.3M	—	as long as short
edgeX USELESSUSDC	+0.0431%	4h	$22K	$185K	10x	as long as short
MEXC USELESS_USDT	+0.0444%	4h	$18.4M	$4.8M	50x	as long as short
Binance USELESSUSDT	+0.0445%	4h	$24.5M	$89.9M	50x	as long as short
Extended USELESS-USD	+0.0448%	1h	$269K	$912K	5x	as long as short
BloFin USELESS-USDT	+0.0550%	4h	$1.2M	$1.7M	12x	as long as short
Polymarket Perps USELESS-USD	+0.0768%	1h	$30K	$109K	3x	as long as short
Orderly PERP_USELESS_USDClong	+0.0970%	4h	$22K	$1.4M	10x
Hyperliquid USELESS	+0.1033%	1h	$13.7M	$14.5M	3x	as long as short
Aster USELESSUSDT	+0.1042%	4h	$663K	$1.6M	10x	as long as short