USELESS

Alert

Funding spread now, next payment 16:00 UTC+0.0470%/8h

next payment, per $10,000+$2.35paid, last 24h+0.110%paid, last 3 days+0.455%to open and closeno order book

Long on Variational Omni Short on Orderly

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni USELESS	0.2762	0.0629	pay 0.0314% / 4h	1h 00m	$1.2M	$1.5M	—
Short	Orderly PERP_USELESS_USDC	0.2767	0.1099	get 0.0549% / 4h	1h 00m	$18K	$1.4M	10x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee OrderlybpOrdersRate

Funding earned: $98.77
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: $92.77
Break-even: 0.4 days

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Orderly: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: +0.178%
Avg gap 7d: −0.168%

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 Variational Omni RFQ quote, 5 min ago	7.24 bp	doesn't fit	43.5 bp −$435	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	$25K	5.5x	as long as short
Lighter USELESS	+0.0096%	1h	$1.3M	$846K	3x	as long as short
Pacifica USELESS	+0.0100%	1h	$27K	$103K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	$9.3M	$50.9M	10x	as long as short
Gate USELESS_USDT	+0.0100%	4h	$6.4M	$5.6M	50x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	$5.0M	$6.5M	12x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	$42K	$678K	25x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	$54K	$167K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	—	$1.3M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	$21K	$299K	20x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Phemex USELESSUSDT	+0.0100%	4h	$503K	$1.4M	20x	as long as short
Aevo USELESS-PERP	+0.0192%	1h	$10K	—	3x	as long as short
Bitget USELESSUSDT	+0.0226%	4h	$5.3M	$6.1M	20x	as long as short
Hyperliquid USELESS	+0.0400%	1h	$12.0M	$13.1M	3x	as long as short
edgeX USELESSUSDC	+0.0443%	4h	$21K	$183K	10x	as long as short
Binance USELESSUSDT	+0.0447%	4h	$23.4M	$82.6M	50x	as long as short
Extended USELESS-USD	+0.0448%	1h	$261K	$915K	5x	as long as short
MEXC USELESS_USDT	+0.0450%	4h	$16.7M	$4.3M	50x	as long as short
BingX USELESS-USDT	+0.0536%	4h	—	$3.9M	—	as long as short
Bybit USELESSUSDT	+0.0547%	4h	$26.9M	$33.1M	13x	as long as short
Variational Omni USELESSlong	+0.0629%	4h	$1.2M	$1.5M	—
BloFin USELESS-USDT	+0.0804%	4h	$1.1M	$1.6M	12x	as long as short
Aster USELESSUSDT	+0.0911%	4h	$591K	$1.2M	10x	as long as short
Orderly PERP_USELESS_USDCshort	+0.1099%	4h	$18K	$1.4M	10x