USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0968%/8h= −106.0% APRnext payment −$4.84 per $10,000 · paid last 24h −0.141%

Price spread now: OKX against BingX+0.101%7-day average −0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$660.664% of the position

Long on BingX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.312%−$31 on $10k

Price spread, last 7 days−0.131%−$13 · spread now +0.101%, 7d avg −0.055%

Together, before fees−0.443%−$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.157% dearer against BingX than usual: you sell high and buy low (spread +0.101% now, against its 7-day average of −0.055%): +$16 on $10k if it goes back. Holding the pair costs −$29 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.312% in total) that is about 3.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.312% in total (about -16.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.84 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX USELESS-USDT	0.2956	0.1068	pay 0.0534% / 4h	2h 19m	—	$5.7M	—
Short	OKX USELESS-USDT-SWAP	0.2959	0.0100	get 0.0050% / 4h	2h 19m	$11.0M	$75.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BingXbpFee OKXbpOrdersPrice spread, now +0.101%Rate

Funding earned: −$203.28
Price spread: +0.101% → −0.055%: $15.66
Slippage, 4 orders: −$46.36
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$253.98
Costs to cover: 0.664%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; OKX: live order book, 2 min ago.

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 BingX live order book, 9 min ago	2.03 bp	14.3 bp −$14	41.6 bp −$416	309.1 bp −$30.9K	doesn't fit
Sell OKX live order book, 2 min ago	1.51 bp	18.1 bp −$18	76.7 bp −$767	doesn't fit	doesn't fit

USELESS on 24 exchanges

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	0.2955	−0.034%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2953	−0.122%	$31K	$18K	3x	as long as short
OKX USELESS-USDT-SWAPshort	+0.0100%	4h	0.2959	+0.101%	$11.0M	$75.5M	10x
KuCoin USELESSUSDTM	+0.0100%	4h	0.2960	+0.125%	$5.5M	$10.8M	12x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2953	−0.098%	$29K	$284K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2965	+0.301%	—	$1.3M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2943	−0.440%	$39K	$556K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2958	+0.051%	$687K	$1.3M	20x	as long as short
Bitget USELESSUSDT	+0.0180%	4h	0.2961	+0.162%	$5.8M	$11.1M	20x	as long as short
Aevo USELESS-PERP	+0.0232%	1h	0.2963	+0.213%	$11K	—	3x	as long as short

Show all 24 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0322%	4h	0.2953	−0.105%	$7.5M	$8.9M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0371%	1h	0.2966	+0.328%	$56K	$687K	25x	as long as short
Aster USELESSUSDT	+0.0406%	4h	0.2960	+0.139%	$641K	$2.4M	10x	as long as short
edgeX USELESSUSDC	+0.0550%	4h	0.2966	+0.314%	$22K	$201K	10x	as long as short
Extended USELESS-USD	+0.0592%	1h	0.2955	−0.039%	$281K	$1.6M	5x	as long as short
MEXC USELESS_USDT	+0.0594%	4h	0.2957	+0.017%	$15.3M	$7.1M	50x	as long as short
Binance USELESSUSDT	+0.0594%	4h	0.2960	+0.128%	$25.5M	$132.4M	50x	as long as short
Orderly PERP_USELESS_USDC	+0.1063%	4h	0.2965	+0.284%	$24K	$2.0M	10x	as long as short
BingX USELESS-USDTlong	+0.1068%	4h	0.2956	long leg	—	$5.7M	—
Bybit USELESSUSDT	+0.1136%	4h	0.2959	+0.078%	$29.3M	$53.0M	13x	as long as short
Variational Omni USELESS	+0.1136%	4h	0.2968	+0.392%	$1.2M	$1.9M	—	as long as short
Hyperliquid USELESS	+0.1302%	1h	0.2962	+0.176%	$13.6M	$23.3M	3x	as long as short
BloFin USELESS-USDT	+0.1522%	4h	0.2964	+0.267%	$1.3M	$2.3M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3187	+7.817%	$5K	$10K	5.5x	as long as short