USELESS

Alert

Funding spread now, next payment 17:00 UTC−0.2050%/8h

paid, last 24h−0.131%paid, last 7 days−0.075%to open and close $10k−$189

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.075% in total (about -3.9% a year). A funding rate is set anew for every payment. 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	0.2826	0.2146	pay 0.1073% / 4h	3h 50m	$513K	$1.3M	20x
Short	Lighter USELESS	0.2833	0.0096	get 0.0012% / 1h	50m 49s	$1.3M	$912K	3x

Funding history

latest

Range statsloading…

Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee PhemexbpFee LighterbpOrdersRate

Funding earned: −$430.51
Slippage, 4 orders: −$177.15
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$619.66
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Lighter: live order book, 2 min ago.

Price risk

price view

Price gap now: +0.255%
Avg gap 7d: −0.075%

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 Phemex live order book, 3 min ago	38.27 bp	75.1 bp −$75	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 2 min ago	4.07 bp	15.3 bp −$15	83.1 bp −$831	doesn't fit	doesn't fit

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 USELESSshort	+0.0096%	1h	$1.3M	$912K	3x
Pacifica USELESS	+0.0100%	1h	$28K	$103K	3x	as long as short
Bybit USELESSUSDT	+0.0100%	4h	$27.8M	$35.1M	13x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	$9.5M	$53.3M	10x	as long as short
Gate USELESS_USDT	+0.0100%	4h	$6.6M	$5.8M	50x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	$5.2M	$6.9M	12x	as long as short
SunX USELESS-USDT	+0.0100%	4h	—	$1.3M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	$21K	$314K	20x	as long as short
Bitget USELESSUSDT	+0.0176%	4h	$5.3M	$6.6M	20x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Aevo USELESS-PERP	+0.0184%	1h	$10K	—	3x	as long as short
ApeX Omni USELESSUSDT	+0.0273%	1h	$36K	$687K	25x	as long as short
Variational Omni USELESS	+0.0395%	4h	$1.2M	$1.6M	—	as long as short
edgeX USELESSUSDC	+0.0398%	4h	$21K	$184K	10x	as long as short
BingX USELESS-USDT	+0.0402%	4h	—	$4.0M	—	as long as short
MEXC USELESS_USDT	+0.0412%	4h	$17.8M	$4.4M	50x	as long as short
Extended USELESS-USD	+0.0416%	1h	$267K	$915K	5x	as long as short
Binance USELESSUSDT	+0.0419%	4h	$24.0M	$85.6M	50x	as long as short
BloFin USELESS-USDT	+0.0624%	4h	$1.2M	$1.7M	12x	as long as short
Hyperliquid USELESS	+0.0854%	1h	$12.6M	$13.6M	3x	as long as short
Orderly PERP_USELESS_USDC	+0.0984%	4h	$19K	$1.4M	10x	as long as short
Aster USELESSUSDT	+0.0987%	4h	$674K	$1.3M	10x	as long as short
Polymarket Perps USELESS-USD	+0.1039%	1h	$38K	$109K	3x	as long as short
Phemex USELESSUSDTlong	+0.2146%	4h	$513K	$1.3M	20x