USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0378%/8h= +41.4% APRnext payment +$1.89 per $10,000 · paid last 24h +0.049%

Price spread now: Binance against Phemex+0.269%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$220as in the Funding arb table

Net, price: spread back to 7d avg − costs−$196as in the Price arb table

costs, in and out, $10k−$2242.244% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.043%+$4 on $10k

Price spread, last 3 days (all we have)−0.117%−$12 · spread now +0.269%, 7d avg −0.013%

Together, before fees−0.074%−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Binance is 0.281% dearer against Phemex than usual: you sell high and buy low: +$28 more if the spread goes back to its 7-day average of −0.013%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.043% in total (about 2.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.89 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	Phemex USELESSUSDT	0.2792	0.0100	pay 0.0050% / 4h	3h 54m	$585K	$1.2M	20x
Short	Binance USELESSUSDT	0.2799	0.0478	get 0.0239% / 4h	3h 54m	$23.6M	$116.2M	50x

Funding 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 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 PhemexbpFee BinancebpOrdersPrice spread, now +0.269%Rate

Funding earned: $79.33
Price spread: +0.269% → −0.013%: $28.12
Slippage, 4 orders: −$202.42
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$116.96
Costs to cover: 2.244%
Break-even: 17.3 days

Slippage from Phemex: live order book, 3 min ago; Binance: live order book, 3 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, 3 min ago	33.27 bp	98.3 bp −$98	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	1.07 bp	22.2 bp −$22	105.6 bp −$1,056	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	0.2800	+0.297%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2801	+0.347%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2797	+0.197%	$9.8M	$66.0M	10x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	0.2805	+0.480%	$39K	$703K	25x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2792	+0.018%	$42K	$166K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2795	+0.107%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2784	−0.254%	$18K	$502K	20x	as long as short
Phemex USELESSUSDTlong	+0.0100%	4h	0.2792	long leg	$585K	$1.2M	20x
KuCoin USELESSUSDTM	+0.0154%	4h	0.2797	+0.186%	$5.2M	$10.0M	12x	as long as short
Aevo USELESS-PERP	+0.0200%	1h	0.2811	+0.685%	$10K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0298%	4h	0.2803	+0.398%	$5.3M	$9.4M	20x	as long as short
Bybit USELESSUSDT	+0.0367%	4h	0.2799	+0.254%	$27.4M	$45.8M	13x	as long as short
Gate USELESS_USDT	+0.0398%	4h	0.2798	+0.215%	$7.0M	$8.2M	50x	as long as short
edgeX USELESSUSDC	+0.0463%	4h	0.2807	+0.537%	$21K	$192K	10x	as long as short
MEXC USELESS_USDT	+0.0476%	4h	0.2800	+0.315%	$10.5M	$5.9M	50x	as long as short
Binance USELESSUSDTshort	+0.0478%	4h	0.2799	+0.269%	$23.6M	$116.2M	50x
Extended USELESS-USD	+0.0480%	1h	0.2799	+0.252%	$295K	$834K	5x	as long as short
Variational Omni USELESS	+0.1018%	4h	0.2808	+0.604%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1021%	4h	0.2797	+0.183%	$643K	$2.3M	10x	as long as short
Orderly PERP_USELESS_USDC	+0.1316%	4h	0.2793	+0.050%	$22K	$1.4M	10x	as long as short
Hyperliquid USELESS	+0.1376%	1h	0.2808	+0.584%	$14.0M	$21.1M	3x	as long as short
BloFin USELESS-USDT	+0.1661%	4h	0.2799	+0.258%	$1.2M	$2.0M	12x	as long as short
BingX USELESS-USDT	+0.3242%	4h	0.2798	+0.236%	—	$5.0M	—	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2972	+6.462%	$5K	$9K	5.5x	as long as short