Funding you earn now, next payment 08:00 UTC+0.0413%/8h= +45.2% APRnext payment +$2.06 per $10,000 · paid last 24h +0.080%
Price spread now: Orderly against BloFin−0.192%112s7-day average −0.011% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.183%+$18 on $10k
+Price spread, last 4 days (all we have)+0.312%+$31 · spread now −0.192%, 7d avg −0.011%
=Funding pays, the price is against you. Orderly is 0.181% cheaper against BloFin than usual: you would sell low and buy high (spread −0.192% now, against its 7-day average of −0.011%). If the spread goes back, that is −$18 on $10k: about 35 hours of funding at the current rate (+$12 a day). At the pace of the last 7 days (+0.183% in total) that is about 6.9 days. The two prices were read 112 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.183% in total (about 9.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.06 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 | 0.2757 | 0.0654 | pay 0.0327% / 4h | 1h 55m | $1.2M | $2.1M | 12x |
| Short | Orderly PERP_USELESS_USDC | 0.2752 | 0.1066 | get 0.0533% / 4h | 1h 55m | $21K | $1.3M | 10x |
BloFin USELESS-USDT
Orderly PERP_USELESS_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against BloFin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
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How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $86.65
- Price spread: −0.192% → −0.011%
- −$18.1
- Slippage, 4 orders
- no order book: not counted
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $50.54
- Costs to cover
- 0.180%
- Break-even
- 2.9 days
Slippage unknown: BloFin: live order book, 2 min ago; Orderly: no order-book sample. 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 BloFin live order book, 2 min ago | 1.63 bp | 18.4 bp −$18 | doesn't fit | 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: 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 | 0.2748 | −0.319% | $1.3M | $1.2M | 3x | as long as short |
| Aster USELESSUSDT | +0.0100% | 4h | 0.2747 | −0.384% | $538K | $2.1M | 10x | as long as short |
| Pacifica USELESS | +0.0100% | 1h | 0.2751 | −0.223% | $29K | $19K | 3x | as long as short |
| KuCoin USELESSUSDTM | +0.0100% | 4h | 0.2748 | −0.341% | $5.0M | $10.6M | 12x | as long as short |
| Bitget USELESSUSDT | +0.0100% | 4h | 0.2748 | −0.348% | $5.3M | $10.4M | 20x | as long as short |
| Polymarket Perps USELESS-USD | +0.0100% | 1h | 0.2748 | −0.348% | $26K | $257K | 3x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2753 | −0.156% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2746 | −0.413% | $19K | $517K | 20x | as long as short |
| Phemex USELESSUSDT | +0.0100% | 4h | 0.2745 | −0.457% | $639K | $1.2M | 20x | as long as short |
| Aevo USELESS-PERP | +0.0136% | 1h | 0.2749 | −0.298% | $10K | — | 3x | as long as short |
Lighter USELESS
Aster USELESSUSDT
Pacifica USELESS
KuCoin USELESSUSDTM
Bitget USELESSUSDT
Polymarket Perps USELESS-USD
SunX USELESS-USDT
HTX USELESS-USDT
Phemex USELESSUSDT
Aevo USELESS-PERPShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX USELESS-USDT-SWAP | +0.0148% | 4h | 0.2751 | −0.221% | $9.5M | $67.9M | 10x | as long as short |
| edgeX USELESSUSDC | +0.0221% | 4h | 0.2762 | +0.157% | $21K | $195K | 10x | as long as short |
| Binance USELESSUSDT | +0.0223% | 4h | 0.2750 | −0.261% | $22.8M | $123.2M | 50x | as long as short |
| MEXC USELESS_USDT | +0.0228% | 4h | 0.2749 | −0.316% | $11.2M | $6.0M | 50x | as long as short |
| Extended USELESS-USD | +0.0232% | 1h | 0.2752 | −0.195% | $136K | $1.2M | 5x | as long as short |
| Gate USELESS_USDT | +0.0274% | 4h | 0.2745 | −0.435% | $6.9M | $8.6M | 50x | as long as short |
| Hyperliquid USELESS | +0.0291% | 1h | 0.2750 | −0.276% | $11.9M | $23.3M | 3x | as long as short |
| BingX USELESS-USDT | +0.0384% | 4h | 0.2750 | −0.283% | — | $5.3M | — | as long as short |
| Bybit USELESSUSDT | +0.0393% | 4h | 0.2748 | −0.319% | $25.8M | $48.7M | 13x | as long as short |
| Variational Omni USELESS | +0.0452% | 4h | 0.2748 | −0.346% | $1.0M | $1.8M | — | as long as short |
| ApeX Omni USELESSUSDT | +0.0571% | 1h | 0.2759 | +0.062% | $49K | $700K | 25x | as long as short |
| BloFin USELESS-USDTlong | +0.0654% | 4h | 0.2757 | long leg | $1.2M | $2.1M | 12x | |
| Orderly PERP_USELESS_USDCshort | +0.1066% | 4h | 0.2752 | −0.192% | $21K | $1.3M | 10x | |
| Injective USELESS/USDC PERP | +0.5000% | 1h | 0.2924 | +6.064% | $5K | $11K | 5.5x | as long as short |
OKX USELESS-USDT-SWAP
edgeX USELESSUSDC
Binance USELESSUSDT
MEXC USELESS_USDT
Extended USELESS-USD
Gate USELESS_USDT
Hyperliquid USELESS
BingX USELESS-USDT
Bybit USELESSUSDT
Variational Omni USELESS
ApeX Omni USELESSUSDT
Injective USELESS/USDC PERP