USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.1601%/8h= −175.4% APRnext payment −$8.01 per $10,000 · paid last 24h −0.038%

Price spread now: Binance against Bybit+0.111%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$630.633% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 7 days−0.115%−$11 · spread now +0.111%, 7d avg +0.033%

Together, before fees−0.183%−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.079% dearer against Bybit than usual: you sell high and buy low (spread +0.111% now, against its 7-day average of +0.033%): +$8 on $10k if it goes back. Holding the pair costs −$48 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.069% in total) that is about 8.1 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.069% in total (about -3.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$8.01 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	Bybit USELESSUSDT	0.2961	0.2008	pay 0.1004% / 4h	3h 52m	$28.7M	$51.5M	13x
Short	Binance USELESSUSDT	0.2964	0.0407	get 0.0203% / 4h	3h 52m	$24.8M	$128.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bybit. 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 BybitbpFee BinancebpOrdersPrice spread, now +0.111%Rate

Funding earned: −$336.31
Price spread: +0.111% → +0.033%: $7.89
Slippage, 4 orders: −$42.28
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$391.71
Costs to cover: 0.633%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Binance: 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 Bybit live order book, 1 min ago	0.17 bp	18.9 bp −$19	44.3 bp −$443	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	1.88 bp	15.0 bp −$15	70.0 bp −$700	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	0.2954	−0.240%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2924	−1.250%	$31K	$19K	3x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2961	−0.007%	$5.7M	$11.1M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2936	−0.851%	$28K	$284K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2946	−0.490%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2957	−0.145%	$20K	$515K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2958	−0.105%	$678K	$1.3M	20x	as long as short
KuCoin USELESSUSDTM	+0.0102%	4h	0.2957	−0.132%	$5.4M	$10.8M	12x	as long as short
OKX USELESS-USDT-SWAP	+0.0124%	4h	0.2960	−0.037%	$10.4M	$75.7M	10x	as long as short
Aevo USELESS-PERP	+0.0184%	1h	0.2954	−0.239%	$11K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster USELESSUSDT	+0.0279%	4h	0.2950	−0.366%	$581K	$2.2M	10x	as long as short
edgeX USELESSUSDC	+0.0385%	4h	0.2919	−1.409%	$22K	$198K	10x	as long as short
MEXC USELESS_USDT	+0.0400%	4h	0.2954	−0.230%	$13.4M	$6.3M	50x	as long as short
Binance USELESSUSDTshort	+0.0407%	4h	0.2964	+0.111%	$24.8M	$128.7M	50x
Extended USELESS-USD	+0.0408%	1h	0.2951	−0.324%	$283K	$1.7M	5x	as long as short
Gate USELESS_USDT	+0.0580%	4h	0.2958	−0.111%	$7.4M	$8.7M	50x	as long as short
Variational Omni USELESS	+0.0779%	4h	0.2921	−1.333%	$1.2M	$1.9M	—	as long as short
Orderly PERP_USELESS_USDC	+0.0967%	4h	0.2952	−0.317%	$21K	$1.8M	10x	as long as short
BingX USELESS-USDT	+0.1184%	4h	0.2961	+0.010%	—	$5.4M	—	as long as short
Hyperliquid USELESS	+0.1226%	1h	0.2965	+0.142%	$13.0M	$23.8M	3x	as long as short
BloFin USELESS-USDT	+0.1598%	4h	0.2959	−0.068%	$1.2M	$2.3M	12x	as long as short
ApeX Omni USELESSUSDT	+0.1634%	1h	0.2915	−1.550%	$54K	$700K	25x	as long as short
Bybit USELESSUSDTlong	+0.2008%	4h	0.2961	long leg	$28.7M	$51.5M	13x
Injective USELESS/USDC PERP	+0.5000%	1h	0.3105	+4.860%	$5K	$10K	5.5x	as long as short