Funding you earn now, next payment 04:00 UTC−0.0773%/8h= −84.6% APRnext payment −$3.86 per $10,000 · paid last 24h −0.093%
Price spread now: Phemex against Variational Omni+0.007%7-day average −0.106% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.195%−$19 on $10k
+Price spread, last 3 days (all we have)−0.049%−$5 · spread now +0.007%, 7d avg −0.106%
=Together, before fees−0.244%+ Points / potential airdropVariational Omni: Active · farm board−$24 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 0.113% dearer against Variational Omni than usual: you sell high and buy low (spread +0.007% now, against its 7-day average of −0.106%): +$11 on $10k if it goes back. Holding the pair costs −$23 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 3 days (−0.195% in total) that is about 47 hours.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.195% in total (about -20.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.86 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 | Variational Omni USELESS | 0.2812 | 0.0873 | pay 0.0436% / 4h | 2h 02m | $1.2M | $1.7M | — |
| Short | Phemex USELESSUSDT | 0.2812 | 0.0100 | get 0.0050% / 4h | 2h 02m | $611K | $1.1M | 20x |
Variational Omni USELESS
Phemex USELESSUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Variational Omni. 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
- −$162.33
- Price spread: +0.007% → −0.106%
- $11.26
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$163.07
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Phemex: live order book, 5 min ago. 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 Variational Omni RFQ quote, 1 min ago | 5.34 bp | doesn't fit | 108.5 bp −$1,085 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 22.31 bp | 66.9 bp −$67 | doesn't fit | doesn't fit | doesn't fit |
USELESS on 23 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 | 0.2811 | −0.032% | $1.3M | $1.2M | 3x | as long as short |
| Pacifica USELESS | +0.0100% | 1h | 0.2812 | +0.010% | $31K | $70K | 3x | as long as short |
| Gate USELESS_USDT | +0.0100% | 4h | 0.2807 | −0.167% | $7.1M | $8.5M | 50x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2821 | +0.327% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2816 | +0.146% | $18K | $503K | 20x | as long as short |
| Phemex USELESSUSDTshort | +0.0100% | 4h | 0.2812 | +0.007% | $611K | $1.1M | 20x | |
| OKX USELESS-USDT-SWAP | +0.0119% | 4h | 0.2811 | −0.018% | $9.9M | $65.9M | 10x | as long as short |
| KuCoin USELESSUSDTM | +0.0184% | 4h | 0.2807 | −0.160% | $5.2M | $10.4M | 12x | as long as short |
| Aevo USELESS-PERP | +0.0224% | 1h | 0.2814 | +0.088% | $10K | — | 3x | as long as short |
| Polymarket Perps USELESS-USD | +0.0364% | 1h | 0.2813 | +0.046% | $27K | $204K | 3x | as long as short |
Lighter USELESS
Pacifica USELESS
Gate USELESS_USDT
SunX USELESS-USDT
HTX USELESS-USDT
OKX USELESS-USDT-SWAP
KuCoin USELESSUSDTM
Aevo USELESS-PERP
Polymarket Perps USELESS-USDShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX USELESSUSDC | +0.0543% | 4h | 0.2811 | −0.039% | $21K | $194K | 10x | as long as short |
| MEXC USELESS_USDT | +0.0558% | 4h | 0.2815 | +0.103% | $11.0M | $6.0M | 50x | as long as short |
| Binance USELESSUSDT | +0.0560% | 4h | 0.2812 | +0.007% | $23.8M | $117.1M | 50x | as long as short |
| Extended USELESS-USD | +0.0560% | 1h | 0.2812 | −0.003% | $298K | $1.1M | 5x | as long as short |
| Bitget USELESSUSDT | +0.0572% | 4h | 0.2810 | −0.047% | $5.4M | $9.9M | 20x | as long as short |
| ApeX Omni USELESSUSDT | +0.0716% | 1h | 0.2808 | −0.132% | $39K | $698K | 25x | as long as short |
| BingX USELESS-USDT | +0.0782% | 4h | 0.2811 | −0.029% | — | $5.1M | — | as long as short |
| Variational Omni USELESSlong | +0.0873% | 4h | 0.2812 | long leg | $1.2M | $1.7M | — | |
| Bybit USELESSUSDT | +0.0898% | 4h | 0.2811 | −0.032% | $27.3M | $46.3M | 13x | as long as short |
| Aster USELESSUSDT | +0.1080% | 4h | 0.2806 | −0.198% | $625K | $2.3M | 10x | as long as short |
| Hyperliquid USELESS | +0.1239% | 1h | 0.2817 | +0.178% | $14.0M | $20.7M | 3x | as long as short |
| Orderly PERP_USELESS_USDC | +0.1316% | 4h | 0.2816 | +0.138% | $22K | $1.3M | 10x | as long as short |
| Injective USELESS/USDC PERP | +0.5000% | 1h | 0.2977 | +5.875% | $5K | $9K | 5.5x | as long as short |
edgeX USELESSUSDC
MEXC USELESS_USDT
Binance USELESSUSDT
Extended USELESS-USD
Bitget USELESSUSDT
ApeX Omni USELESSUSDT
BingX USELESS-USDT
Bybit USELESSUSDT
Aster USELESSUSDT
Hyperliquid USELESS
Orderly PERP_USELESS_USDC
Injective USELESS/USDC PERP