USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1159%/8h= −126.9% APRnext payment −$5.79 per $10,000 · paid last 24h −0.116%

Price spread now: Bitget against BloFin−0.165%7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$156as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$920.918% of the position

Long on BloFin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.637%−$64 on $10k

Price spread, last 3 days (all we have)+0.238%+$24 · spread now −0.165%, 7d avg −0.062%

Together, before fees−0.399%−$40 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$35 a day on $10k at the current rate, and Bitget is 0.104% cheaper against BloFin than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.062%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.637% in total (about -33.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$5.79 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	BloFin USELESS-USDT	0.2842	0.1581	pay 0.0790% / 4h	48m 51s	$1.2M	$2.0M	12x
Short	Bitget USELESSUSDT	0.2837	0.0422	get 0.0211% / 4h	48m 51s	$5.4M	$9.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 BloFinbpFee BitgetbpOrdersPrice spread, now −0.165%Rate

Funding earned: −$243.34
Price spread: −0.165% → −0.062%: −$10.37
Slippage, 4 orders: −$67.84
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$345.55
Costs to cover: 0.918%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; Bitget: live order book, 5 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 BloFin live order book, 4 min ago	4.97 bp	16.6 bp −$17	29.2 bp −$292	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	5.14 bp	19.8 bp −$20	99.2 bp −$992	doesn't fit	doesn't fit

USELESS on 24 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	0.2840	−0.049%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2845	+0.123%	$32K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2841	−0.011%	$9.9M	$66.7M	10x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2837	−0.155%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2849	+0.250%	$19K	$493K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2838	−0.113%	$570K	$1.2M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0164%	1h	0.2849	+0.264%	$31K	$153K	3x	as long as short
Aevo USELESS-PERP	+0.0216%	1h	0.2842	+0.019%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0338%	4h	0.2843	+0.035%	$5.2M	$9.9M	12x	as long as short
Bitget USELESSUSDTshort	+0.0422%	4h	0.2837	−0.165%	$5.4M	$9.3M	20x

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0480%	4h	0.2835	−0.222%	$7.1M	$8.2M	50x	as long as short
edgeX USELESSUSDC	+0.0529%	4h	0.2841	−0.013%	$21K	$192K	10x	as long as short
MEXC USELESS_USDT	+0.0534%	4h	0.2838	−0.109%	$10.5M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0543%	4h	0.2838	−0.123%	$23.9M	$115.6M	50x	as long as short
Extended USELESS-USD	+0.0544%	1h	0.2840	−0.039%	$300K	$966K	5x	as long as short
ApeX Omni USELESSUSDT	+0.0820%	1h	0.2833	−0.299%	$39K	$701K	25x	as long as short
BingX USELESS-USDT	+0.1162%	4h	0.2840	−0.063%	—	$5.0M	—	as long as short
Aster USELESSUSDT	+0.1165%	4h	0.2839	−0.080%	$653K	$2.2M	10x	as long as short
Bybit USELESSUSDT	+0.1233%	4h	0.2839	−0.070%	$28.2M	$45.4M	13x	as long as short
Orderly PERP_USELESS_USDC	+0.1337%	4h	0.2840	−0.039%	$22K	$1.4M	10x	as long as short
Variational Omni USELESS	+0.1363%	4h	0.2833	−0.285%	$1.2M	$1.7M	—	as long as short
Hyperliquid USELESS	+0.1461%	1h	0.2841	−0.007%	$14.1M	$21.0M	3x	as long as short
BloFin USELESS-USDTlong	+0.1581%	4h	0.2842	long leg	$1.2M	$2.0M	12x
Injective USELESS/USDC PERP	+0.5000%	1h	0.3004	+5.719%	$5K	$9K	5.5x	as long as short