USELESS

Alert

Funding spread now, next payment 20:00 UTC−0.0069%/8h

next payment, per $10,000−$0.34paid, last 24h+0.132%paid, last 5 days+0.462%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex USELESSUSDT	0.2803	0.1054	pay 0.0527% / 4h	3h 53m	$509K	$1.3M	20x
Short	Orderly PERP_USELESS_USDC	0.2813	0.0985	get 0.0492% / 4h	3h 53m	$19K	$1.4M	10x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee PhemexbpFee OrderlybpOrdersRate

Funding earned: −$14.49
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$32.49
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 1 min ago; Orderly: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: +0.378%
Avg gap 7d: −0.049%

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, 1 min ago	38.27 bp	75.1 bp −$75	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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.

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 USELESS	+0.0096%	1h	$1.3M	$903K	3x	as long as short
Pacifica USELESS	+0.0100%	1h	$28K	$103K	3x	as long as short
Bybit USELESSUSDT	+0.0100%	4h	$27.5M	$35.1M	13x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	$9.5M	$52.8M	10x	as long as short
Gate USELESS_USDT	+0.0100%	4h	$6.5M	$5.8M	50x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	$5.1M	$6.9M	12x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	$36K	$685K	25x	as long as short
SunX USELESS-USDT	+0.0100%	4h	—	$1.3M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	$21K	$313K	20x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0172%	4h	$5.2M	$6.6M	20x	as long as short
Aevo USELESS-PERP	+0.0184%	1h	$10K	—	3x	as long as short
edgeX USELESSUSDC	+0.0406%	4h	$21K	$183K	10x	as long as short
Variational Omni USELESS	+0.0407%	4h	$1.2M	$1.6M	—	as long as short
MEXC USELESS_USDT	+0.0414%	4h	$17.7M	$4.4M	50x	as long as short
Binance USELESSUSDT	+0.0414%	4h	$23.8M	$85.5M	50x	as long as short
Extended USELESS-USD	+0.0416%	1h	$264K	$915K	5x	as long as short
Polymarket Perps USELESS-USD	+0.0573%	1h	$38K	$108K	3x	as long as short
BloFin USELESS-USDT	+0.0776%	4h	$1.2M	$1.7M	12x	as long as short
Hyperliquid USELESS	+0.0910%	1h	$12.5M	$13.5M	3x	as long as short
Aster USELESSUSDT	+0.0985%	4h	$669K	$1.3M	10x	as long as short
Orderly PERP_USELESS_USDCshort	+0.0985%	4h	$19K	$1.4M	10x
Phemex USELESSUSDTlong	+0.1054%	4h	$509K	$1.3M	20x
BingX USELESS-USDT	+0.2276%	4h	—	$4.0M	—	as long as short