USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0742%/8h= −81.3% APRnext payment −$3.71 per $10,000 · paid last 24h −0.136%

Price spread now: Variational Omni against Orderly+0.179%7-day average +0.104% · you sell dearer than you buy

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

Long on Orderly Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.402%−$40 on $10k

Price spread, last 4 days (all we have)−0.249%−$25 · spread now +0.179%, 7d avg +0.104%

Together, before fees−0.651%+ Points / potential airdropVariational Omni: Active · farm board−$65 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.075% dearer against Orderly than usual: you sell high and buy low (spread +0.179% now, against its 7-day average of +0.104%): +$7 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_USELESS_USDC	0.2625	0.1301	pay 0.0650% / 4h	3h 49m	$19K	$1.2M	10x
Short	Variational Omni USELESS	0.2630	0.0559	get 0.0279% / 4h	3h 49m	$1.0M	$1.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Orderly. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.179%Rate

Funding earned: −$155.86
Price spread: +0.179% → +0.104%: $7.48
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$154.37
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 4 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 Variational Omni RFQ quote, 4 min ago	5.72 bp	doesn't fit	47.6 bp −$476	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	0.2622	−0.141%	$1.2M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2629	+0.124%	$28K	$47K	3x	as long as short
Bybit USELESSUSDT	+0.0100%	4h	0.2620	−0.194%	$24.8M	$48.4M	13x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2621	−0.156%	$6.5M	$8.6M	50x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2623	−0.103%	$27K	$229K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2623	−0.103%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2626	+0.042%	$18K	$522K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2626	+0.030%	$600K	$1.1M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0164%	4h	0.2621	−0.156%	$8.9M	$63.6M	10x	as long as short
Aevo USELESS-PERP	+0.0168%	1h	0.2622	−0.139%	$9K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTM	+0.0208%	4h	0.2621	−0.149%	$4.8M	$10.7M	12x	as long as short
Bitget USELESSUSDT	+0.0224%	4h	0.2624	−0.069%	$5.0M	$10.3M	20x	as long as short
Binance USELESSUSDT	+0.0359%	4h	0.2624	−0.039%	$21.8M	$121.6M	50x	as long as short
Extended USELESS-USD	+0.0360%	1h	0.2623	−0.091%	$112K	$1.1M	5x	as long as short
MEXC USELESS_USDT	+0.0364%	4h	0.2626	+0.011%	$10.6M	$6.0M	50x	as long as short
edgeX USELESSUSDC	+0.0369%	4h	0.2634	+0.318%	$20K	$196K	10x	as long as short
BingX USELESS-USDT	+0.0371%	4h	0.2622	−0.133%	—	$5.3M	—	as long as short
Aster USELESSUSDT	+0.0377%	4h	0.2622	−0.110%	$519K	$2.4M	10x	as long as short
BloFin USELESS-USDT	+0.0447%	4h	0.2630	+0.164%	$1.1M	$1.9M	12x	as long as short
Hyperliquid USELESS	+0.0512%	1h	0.2621	−0.145%	$11.5M	$22.6M	3x	as long as short
Variational Omni USELESSshort	+0.0559%	4h	0.2630	+0.179%	$1.0M	$1.8M	—
ApeX Omni USELESSUSDT	+0.0666%	1h	0.2634	+0.331%	$36K	$695K	25x	as long as short
Orderly PERP_USELESS_USDClong	+0.1301%	4h	0.2625	long leg	$19K	$1.2M	10x
Injective USELESS/USDC PERP	+0.5000%	1h	0.2780	+5.893%	$5K	$11K	5.5x	as long as short