USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0181%/8h= −19.8% APRnext payment −$0.90 per $10,000 · paid last 24h −0.136%

Price spread now: OKX against Bybit+0.045%7-day average −0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$810.807% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.254%−$25 on $10k

Price spread, last 7 days−0.064%−$6 · spread now +0.045%, 7d avg −0.037%

Together, before fees−0.318%−$32 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.081% dearer against Bybit than usual: you sell high and buy low (spread +0.045% now, against its 7-day average of −0.037%): +$8 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit USELESSUSDT	0.2683	0.0328	pay 0.0164% / 4h	2h 31m	$25.3M	$48.4M	13x
Short	OKX USELESS-USDT-SWAP	0.2684	0.0147	get 0.0074% / 4h	2h 31m	$9.2M	$65.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.045%Rate

Funding earned: −$37.98
Price spread: +0.045% → −0.037%: $8.14
Slippage, 4 orders: −$59.75
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$110.59
Costs to cover: 0.807%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; OKX: live order book, 3 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, 3 min ago	2.42 bp	21.9 bp −$22	105.6 bp −$1,056	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.93 bp	19.2 bp −$19	doesn't fit	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	0.2684	+0.030%	$1.2M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2685	+0.078%	$11.6M	$22.9M	3x	as long as short
Aster USELESSUSDT	+0.0100%	4h	0.2682	−0.021%	$526K	$2.2M	10x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2682	−0.045%	$28K	$18K	3x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2685	+0.071%	$26K	$248K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2685	+0.086%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2680	−0.093%	$18K	$519K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2684	+0.056%	$636K	$1.1M	20x	as long as short
Bitget USELESSUSDT	+0.0106%	4h	0.2683	+0.026%	$5.1M	$10.4M	20x	as long as short
KuCoin USELESSUSDTM	+0.0112%	4h	0.2682	−0.037%	$4.9M	$10.6M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo USELESS-PERP	+0.0136%	1h	0.2684	+0.030%	$10K	—	3x	as long as short
OKX USELESS-USDT-SWAPshort	+0.0147%	4h	0.2684	+0.045%	$9.2M	$65.4M	10x
ApeX Omni USELESSUSDT	+0.0204%	1h	0.2681	−0.067%	$47K	$698K	25x	as long as short
edgeX USELESSUSDC	+0.0219%	4h	0.2683	+0.010%	$20K	$196K	10x	as long as short
Extended USELESS-USD	+0.0224%	1h	0.2683	+0.011%	$114K	$1.1M	5x	as long as short
MEXC USELESS_USDT	+0.0224%	4h	0.2684	+0.060%	$10.9M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0225%	4h	0.2684	+0.037%	$22.4M	$122.0M	50x	as long as short
Bybit USELESSUSDTlong	+0.0328%	4h	0.2683	long leg	$25.3M	$48.4M	13x
BingX USELESS-USDT	+0.0378%	4h	0.2684	+0.048%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0516%	4h	0.2686	+0.119%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.0618%	4h	0.2680	−0.104%	$1.1M	$2.0M	12x	as long as short
Gate USELESS_USDT	+0.0840%	4h	0.2682	−0.045%	$6.7M	$8.6M	50x	as long as short
Orderly PERP_USELESS_USDC	+0.1175%	4h	0.2686	+0.130%	$21K	$1.2M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2826	+5.345%	$5K	$11K	5.5x	as long as short