Spread before costs (cost unknown: a leg has no order-book sample)−0.062%
7d average—if it closes, per $10,000$6funding while held, a day−$2.28
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Aevo USELESS-PERP | 0.2888 | 0.0176 | pay 0.0022% / 1h | 29m 04s | $10K | — | 3x |
| Short | Phemex USELESSUSDT | 0.2886 | 0.0100 | get 0.0050% / 4h | 1h 29m | $534K | $1.3M | 20x |
Aevo USELESS-PERP
Phemex USELESSUSDTPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- −$6.23
- Funding while held
- −$2.28
- Slippage, 4 orders
- no order book: not counted
- Fee Aevo: 8 bp × 2 orders
- −$16
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$36.51
- Spread needed to break even
- 0.280%
Slippage unknown: Aevo: no order-book sample; Phemex: live order book, 5 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0076%
- Per $10,000 a day
- −$2.28
- Average in range /8h
- —
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 Aevo no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 5 min ago | 19.73 bp | 51.2 bp −$51 | doesn't fit | doesn't fit | doesn't fit |
Aevo: 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 price on every exchange
against the cheapest. Click to use as the short leg.ApeX Omni0.2833cheapestVariational Omni0.2844+0.384%edgeX0.2853+0.707%HTX0.2871+1.341%Pacifica0.2878+1.599%Gate0.2879+1.613%Lighter0.2881+1.694%Bitget0.2881+1.708%BingX0.2881+1.708%Hyperliquid0.2883+1.768%Binance0.2883+1.772%OKX0.2883+1.772%BloFin0.2885+1.821%KuCoin0.2885+1.836%Extended0.2886+1.860%Bybit0.2886+1.867%
ApeX Omni
Variational Omni
HTX
Pacifica
Gate
Lighter
Bitget
BingX
Hyperliquid
Binance
OKX
BloFin
KuCoin
Extended
BybitPhemex0.2886+1.871%
Aster0.2887+1.913%
AsterAevo0.2888+1.934%
Orderly0.2888+1.948%Polymarket Perps0.2889+1.963%MEXC0.2889+1.977%SunX0.2890+2.023%Injective0.2937+3.675%
Orderly
Polymarket Perps
MEXC
SunX
InjectiveUSELESS on 24 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| ApeX Omni USELESSUSDT | −1.898% | +0.0100% | 1h | $35K | $694K | 25x | as long as short |
| Variational Omni USELESS | −1.521% | +0.0349% | 4h | $1.2M | $1.5M | — | as long as short |
| edgeX USELESSUSDC | −1.204% | +0.0359% | 4h | $22K | $187K | 10x | as long as short |
| HTX USELESS-USDT | −0.582% | +0.0100% | 4h | $21K | $340K | 20x | as long as short |
| Pacifica USELESS | −0.329% | +0.0100% | 1h | $32K | $76K | 3x | as long as short |
| Gate USELESS_USDT | −0.315% | +0.0100% | 4h | $6.9M | $6.5M | 50x | as long as short |
| Lighter USELESS | −0.235% | +0.0096% | 1h | $1.3M | $945K | 3x | as long as short |
| Bitget USELESSUSDT | −0.222% | +0.0180% | 4h | $5.5M | $7.1M | 20x | as long as short |
| BingX USELESS-USDT | −0.222% | +0.0378% | 4h | — | $4.4M | — | as long as short |
| Hyperliquid USELESS | −0.163% | +0.0755% | 1h | $14.0M | $15.6M | 3x | as long as short |
Show all 24 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Binance USELESSUSDT | −0.159% | +0.0392% | 4h | $24.5M | $93.6M | 50x | as long as short |
| OKX USELESS-USDT-SWAP | −0.159% | +0.0100% | 4h | $9.9M | $58.5M | 10x | as long as short |
| BloFin USELESS-USDT | −0.111% | +0.0577% | 4h | $1.2M | $1.8M | 12x | as long as short |
| KuCoin USELESSUSDTM | −0.097% | +0.0100% | 4h | $5.2M | $8.0M | 12x | as long as short |
| Extended USELESS-USD | −0.073% | +0.0392% | 1h | $264K | $920K | 5x | as long as short |
| Bybit USELESSUSDT | −0.066% | +0.0323% | 4h | $28.2M | $37.3M | 13x | as long as short |
| Phemex USELESSUSDTshort | −0.062% | +0.0100% | 4h | $534K | $1.3M | 20x | |
| Aster USELESSUSDT | −0.021% | +0.0873% | 4h | $599K | $1.9M | 10x | as long as short |
| Aevo USELESS-PERPlong | 0.000% | +0.0176% | 1h | $10K | — | 3x | |
| Orderly PERP_USELESS_USDC | +0.014% | +0.0908% | 4h | $22K | $1.4M | 10x | as long as short |
| Polymarket Perps USELESS-USD | +0.028% | +0.0100% | 1h | $27K | $120K | 3x | as long as short |
| MEXC USELESS_USDT | +0.042% | +0.0378% | 4h | $19.2M | $5.0M | 50x | as long as short |
| SunX USELESS-USDT | +0.087% | +0.0100% | 4h | — | $1.3M | 10x | as long as short |
| Injective USELESS/USDC PERP | +1.707% | −0.5000% | 1h | $855 | $14K | 5.5x | as long as short |