Funding you earn now, next payment 23:00 UTC+0.4900%/8h= +536.5% APRpaid last 24h −1.228%
Price spread now: Injective against Phemex+6.384%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$147 a day on $10k at the current rate, and Injective is 6.384% dearer against Phemex than usual: you sell high and buy low: +$638 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex USELESSUSDT | 0.2721 | 0.0100 | pay 0.0050% / 4h | 1h 13m | $558K | $1.2M | 20x |
| Short | Injective USELESS/USDC PERP | 0.2894 | 0.5000 | get 0.0625% / 1h | 13m 15s | $5K | $9K | 5.5x |
Phemex USELESSUSDT
Injective USELESS/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- $1,029
- Price spread: +6.384% → 0.000%
- $638.44
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $1,655.42
- Costs to cover
- 0.120%
- Break-even
- from the start
Slippage unknown: Phemex: live order book, 4 min ago; Injective: no order-book sample. 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 Phemex live order book, 4 min ago | 32.37 bp | 116.4 bp −$116 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 | 0.2734 | +0.493% | $1.3M | $1.1M | 3x | as long as short |
| Pacifica USELESS | +0.0100% | 1h | 0.2735 | +0.540% | $30K | $70K | 3x | as long as short |
| OKX USELESS-USDT-SWAP | +0.0100% | 4h | 0.2732 | +0.423% | $9.5M | $63.3M | 10x | as long as short |
| Polymarket Perps USELESS-USD | +0.0100% | 1h | 0.2732 | +0.423% | $26K | $147K | 3x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2735 | +0.511% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2736 | +0.548% | $18K | $489K | 20x | as long as short |
| Phemex USELESSUSDTlong | +0.0100% | 4h | 0.2721 | long leg | $558K | $1.2M | 20x | |
| Aevo USELESS-PERP | +0.0200% | 1h | 0.2735 | +0.522% | $10K | — | 3x | as long as short |
| ApeX Omni USELESSUSDT | +0.0228% | 1h | 0.2725 | +0.158% | $38K | $699K | 25x | as long as short |
| KuCoin USELESSUSDTM | +0.0340% | 4h | 0.2733 | +0.463% | $5.1M | $9.9M | 12x | as long as short |
Lighter USELESS
Pacifica USELESS
OKX USELESS-USDT-SWAP
Polymarket Perps USELESS-USD
SunX USELESS-USDT
HTX USELESS-USDT
Aevo USELESS-PERP
ApeX Omni USELESSUSDT
KuCoin USELESSUSDTMShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate USELESS_USDT | +0.0350% | 4h | 0.2730 | +0.342% | $6.8M | $8.1M | 50x | as long as short |
| edgeX USELESSUSDC | +0.0463% | 4h | 0.2727 | +0.238% | $20K | $192K | 10x | as long as short |
| MEXC USELESS_USDT | +0.0476% | 4h | 0.2735 | +0.518% | $10.0M | $5.9M | 50x | as long as short |
| Bitget USELESSUSDT | +0.0476% | 4h | 0.2733 | +0.437% | $5.2M | $9.1M | 20x | as long as short |
| Binance USELESSUSDT | +0.0488% | 4h | 0.2733 | +0.463% | $23.1M | $114.1M | 50x | as long as short |
| Extended USELESS-USD | +0.0488% | 1h | 0.2733 | +0.457% | $288K | $966K | 5x | as long as short |
| Hyperliquid USELESS | +0.0836% | 1h | 0.2736 | +0.548% | $13.3M | $20.6M | 3x | as long as short |
| Aster USELESSUSDT | +0.1109% | 4h | 0.2734 | +0.506% | $641K | $2.2M | 10x | as long as short |
| Orderly PERP_USELESS_USDC | +0.1288% | 4h | 0.2735 | +0.515% | $21K | $1.4M | 10x | as long as short |
| BingX USELESS-USDT | +0.1320% | 4h | 0.2732 | +0.412% | — | $5.0M | — | as long as short |
| Bybit USELESSUSDT | +0.1365% | 4h | 0.2734 | +0.481% | $27.4M | $44.7M | 13x | as long as short |
| Variational Omni USELESS | +0.1492% | 4h | 0.2726 | +0.177% | $1.1M | $1.8M | — | as long as short |
| BloFin USELESS-USDT | +0.1773% | 4h | 0.2735 | +0.529% | $1.2M | $1.9M | 12x | as long as short |
| Injective USELESS/USDC PERPshort | +0.5000% | 1h | 0.2894 | +6.384% | $5K | $9K | 5.5x |
Gate USELESS_USDT
edgeX USELESSUSDC
MEXC USELESS_USDT
Bitget USELESSUSDT
Binance USELESSUSDT
Extended USELESS-USD
Hyperliquid USELESS
Aster USELESSUSDT
Orderly PERP_USELESS_USDC
BingX USELESS-USDT
Bybit USELESSUSDT
Variational Omni USELESS
BloFin USELESS-USDT