Funding you earn now, next payment 08:00 UTC+0.0125%/8h= +13.7% APRnext payment +$0.62 per $10,000 · paid last 24h +0.075%
Price spread now: Binance against Phemex+0.047%7-day average +0.007% · you sell dearer than you buy
Net, funding: paid 7d − costs−$118as in the Funding arb table
Net, price: spread back to 7d avg − costs−$122as in the Price arb table
costs, in and out, $10k−$1261.260% of the position
Funding, last 7 days+0.076%+$8 on $10k
+Price spread, last 4 days (all we have)+0.104%+$10 · spread now +0.047%, 7d avg +0.007%
=Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Binance is 0.041% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.007%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex USELESSUSDT | 0.2683 | 0.0100 | pay 0.0050% / 4h | 2h 31m | $636K | $1.1M | 20x |
| Short | Binance USELESSUSDT | 0.2684 | 0.0225 | get 0.0112% / 4h | 2h 31m | $22.4M | $122.1M | 50x |
Phemex USELESSUSDT
Binance USELESSUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $26.18
- Price spread: +0.047% → +0.007%
- $4.05
- Slippage, 4 orders
- −$104.02
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$95.78
- Costs to cover
- 1.260%
- Break-even
- 32.6 days
Slippage from Phemex: live order book, 1 min ago; Binance: 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 Phemex live order book, 1 min ago | 4.29 bp | 45.7 bp −$46 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 11 min ago | 0.56 bp | 16.6 bp −$17 | 63.2 bp −$632 | doesn't fit | 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 | 0.2684 | +0.026% | $1.2M | $1.2M | 3x | as long as short |
| Hyperliquid USELESS | +0.0100% | 1h | 0.2681 | −0.056% | $11.6M | $22.9M | 3x | as long as short |
| Aster USELESSUSDT | +0.0100% | 4h | 0.2681 | −0.088% | $525K | $2.2M | 10x | as long as short |
| Pacifica USELESS | +0.0100% | 1h | 0.2682 | −0.048% | $28K | $18K | 3x | as long as short |
| Polymarket Perps USELESS-USD | +0.0100% | 1h | 0.2682 | −0.015% | $26K | $247K | 3x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2684 | +0.030% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2677 | −0.227% | $18K | $519K | 20x | as long as short |
| Phemex USELESSUSDTlong | +0.0100% | 4h | 0.2683 | long leg | $636K | $1.1M | 20x | |
| Bitget USELESSUSDT | +0.0106% | 4h | 0.2682 | −0.015% | $5.1M | $10.4M | 20x | as long as short |
| KuCoin USELESSUSDTM | +0.0112% | 4h | 0.2680 | −0.116% | $4.9M | $10.6M | 12x | as long as short |
Lighter USELESS
Hyperliquid USELESS
Aster USELESSUSDT
Pacifica USELESS
Polymarket Perps USELESS-USD
SunX USELESS-USDT
HTX USELESS-USDT
Bitget USELESSUSDT
KuCoin USELESSUSDTMShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aevo USELESS-PERP | +0.0136% | 1h | 0.2685 | +0.095% | $10K | — | 3x | as long as short |
| OKX USELESS-USDT-SWAP | +0.0152% | 4h | 0.2683 | 0.000% | $9.2M | $65.4M | 10x | as long as short |
| edgeX USELESSUSDC | +0.0214% | 4h | 0.2692 | +0.323% | $20K | $196K | 10x | as long as short |
| Extended USELESS-USD | +0.0224% | 1h | 0.2683 | −0.013% | $114K | $1.1M | 5x | as long as short |
| MEXC USELESS_USDT | +0.0224% | 4h | 0.2683 | +0.015% | $10.9M | $6.0M | 50x | as long as short |
| Binance USELESSUSDTshort | +0.0225% | 4h | 0.2684 | +0.047% | $22.4M | $122.1M | 50x | |
| ApeX Omni USELESSUSDT | +0.0263% | 1h | 0.2688 | +0.190% | $47K | $697K | 25x | as long as short |
| BingX USELESS-USDT | +0.0359% | 4h | 0.2686 | +0.112% | — | $5.3M | — | as long as short |
| Bybit USELESSUSDT | +0.0359% | 4h | 0.2681 | −0.052% | $25.3M | $48.5M | 13x | as long as short |
| Variational Omni USELESS | +0.0516% | 4h | 0.2686 | +0.115% | $1.0M | $1.8M | — | as long as short |
| BloFin USELESS-USDT | +0.0618% | 4h | 0.2680 | −0.108% | $1.1M | $2.0M | 12x | as long as short |
| Gate USELESS_USDT | +0.0840% | 4h | 0.2680 | −0.104% | $6.7M | $8.6M | 50x | as long as short |
| Orderly PERP_USELESS_USDC | +0.1177% | 4h | 0.2683 | +0.007% | $20K | $1.2M | 10x | as long as short |
| Injective USELESS/USDC PERP | +0.5000% | 1h | 0.2826 | +5.341% | $5K | $11K | 5.5x | as long as short |
Aevo USELESS-PERP
OKX USELESS-USDT-SWAP
edgeX USELESSUSDC
Extended USELESS-USD
MEXC USELESS_USDT
ApeX Omni USELESSUSDT
BingX USELESS-USDT
Bybit USELESSUSDT
Variational Omni USELESS
BloFin USELESS-USDT
Gate USELESS_USDT
Orderly PERP_USELESS_USDC
Injective USELESS/USDC PERP