Spread before costs (cost unknown: a leg has no order-book sample)+3.259%
7d average—if it closes, per $10,000$326funding while held, a day−$161.13
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit USELESSUSDT | 0.2844 | 0.0371 | pay 0.0186% / 4h | 1h 45m | $27.8M | $37.3M | 13x |
| Short | Injective USELESS/USDC PERP | 0.2937 | −0.5000 | pay 0.0625% / 1h | 45m 17s | $855 | $14K | 5.5x |
Bybit USELESSUSDT
Injective USELESS/USDC PERPPrice 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
- $325.9
- Funding while held
- −$161.13
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $153.75
- Spread needed to break even
- 0.110%
Slippage unknown: Bybit: live order book, 5 min ago; Injective: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.5371%
- Per $10,000 a day
- −$161.13
- 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 Bybit live order book, 5 min ago | 1.22 bp | 17.5 bp −$18 | 41.9 bp −$419 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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.HTX0.2833cheapestApeX Omni0.2833+0.004%OKX0.2840+0.244%edgeX0.2841+0.281%Gate0.2842+0.321%KuCoin0.2842+0.328%Lighter0.2843+0.346%Extended0.2843+0.351%BingX0.2844+0.381%Phemex0.2844+0.385%Aevo0.2844+0.387%
HTX
ApeX Omni
OKX
Gate
KuCoin
Lighter
Extended
BingX
Phemex
AevoBybit0.2844+0.406%
Orderly0.2844+0.406%Binance0.2844+0.409%Bitget0.2844+0.409%Pacifica0.2845+0.417%Variational Omni0.2845+0.417%BloFin0.2845+0.420%Aster0.2846+0.456%SunX0.2847+0.484%MEXC0.2847+0.505%Polymarket Perps0.2848+0.526%Hyperliquid0.2849+0.565%
Orderly
Binance
Bitget
Pacifica
Variational Omni
BloFin
Aster
SunX
MEXC
Polymarket Perps
HyperliquidInjective0.2937+3.678%
USELESS on 24 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| HTX USELESS-USDT | −0.404% | +0.0100% | 4h | $21K | $337K | 20x | as long as short |
| ApeX Omni USELESSUSDT | −0.401% | +0.0100% | 1h | $35K | $695K | 25x | as long as short |
| OKX USELESS-USDT-SWAP | −0.162% | +0.0100% | 4h | $9.7M | $57.6M | 10x | as long as short |
| edgeX USELESSUSDC | −0.124% | +0.0384% | 4h | $22K | $187K | 10x | as long as short |
| Gate USELESS_USDT | −0.084% | +0.0100% | 4h | $6.8M | $6.5M | 50x | as long as short |
| KuCoin USELESSUSDTM | −0.077% | +0.0100% | 4h | $5.1M | $7.9M | 12x | as long as short |
| Lighter USELESS | −0.060% | +0.0096% | 1h | $1.3M | $944K | 3x | as long as short |
| Extended USELESS-USD | −0.055% | +0.0376% | 1h | $260K | $921K | 5x | as long as short |
| BingX USELESS-USDT | −0.025% | +0.0392% | 4h | — | $4.4M | — | as long as short |
| Phemex USELESSUSDT | −0.021% | +0.0100% | 4h | $517K | $1.2M | 20x | as long as short |
Show all 24 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Aevo USELESS-PERP | −0.019% | +0.0176% | 1h | $10K | — | 3x | as long as short |
| Bybit USELESSUSDTlong | 0.000% | +0.0371% | 4h | $27.8M | $37.3M | 13x | |
| Orderly PERP_USELESS_USDC | 0.000% | +0.0918% | 4h | $22K | $1.4M | 10x | as long as short |
| Binance USELESSUSDT | +0.003% | +0.0378% | 4h | $24.1M | $93.7M | 50x | as long as short |
| Bitget USELESSUSDT | +0.004% | +0.0156% | 4h | $5.4M | $7.1M | 20x | as long as short |
| Pacifica USELESS | +0.011% | +0.0100% | 1h | $32K | $76K | 3x | as long as short |
| Variational Omni USELESS | +0.011% | +0.0370% | 4h | $1.2M | $1.5M | — | as long as short |
| BloFin USELESS-USDT | +0.014% | +0.0584% | 4h | $1.2M | $1.7M | 12x | as long as short |
| Aster USELESSUSDT | +0.050% | +0.0860% | 4h | $589K | $1.8M | 10x | as long as short |
| SunX USELESS-USDT | +0.077% | +0.0100% | 4h | — | $1.3M | 10x | as long as short |
| MEXC USELESS_USDT | +0.098% | +0.0378% | 4h | $18.8M | $4.9M | 50x | as long as short |
| Polymarket Perps USELESS-USD | +0.120% | +0.0100% | 1h | $27K | $118K | 3x | as long as short |
| Hyperliquid USELESS | +0.158% | +0.0721% | 1h | $13.8M | $15.7M | 3x | as long as short |
| Injective USELESS/USDC PERPshort | +3.259% | −0.5000% | 1h | $855 | $14K | 5.5x |