USELESS

Alert

Spread before costs (cost unknown: a leg has no order-book sample)+6.036%

7d average—if it closes, per $10,000$604funding while held, a day+$169.86

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective USELESS/USDC PERP	0.2689	−0.5000	get 0.0625% / 1h	27m 03s	$3K	$18K	5.5x
Short	BingX USELESS-USDT	0.2851	0.0662	get 0.0331% / 4h	3h 27m	—	$4.2M	—

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee InjectivebpFee BingXbpOrdersClose when spread is

Spread captured: $603.57
Funding while held: $169.86
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BingX: 5 bp × 2 orders: −$10
Net: $763.41
Spread needed to break even: 0.100%

Slippage unknown: Injective: no order-book sample; BingX: live order book, 14 min ago. Net counts fees only.

Cost of waiting

funding view

Funding /8h: +0.5662%
Per $10,000 a day: +$169.86
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 Injective no order-book sample	—	—	—	—	—
Sell BingX live order book, 14 min ago	4.37 bp	17.0 bp −$17	45.8 bp −$458	310.8 bp −$31.1K	doesn't fit

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.

Injective0.2689cheapest

Bitget0.2848+5.913%

Bybit0.2849+5.939%

OKX0.2849+5.961%

BingX0.2851+6.036%

Gate0.2853+6.091%

Binance0.2854+6.139%

KuCoin0.2858+6.289%

Aster0.2858+6.300%

Aevo0.2860+6.345%

Lighter0.2860+6.352%

SunX0.2860+6.367%

Extended0.2861+6.385%

MEXC0.2861+6.411%

Orderly0.2862+6.437%

HTX0.2863+6.452%

Pacifica0.2864+6.492%

Polymarket Perps0.2864+6.493%

Hyperliquid0.2864+6.501%

ApeX Omni0.2864+6.508%

Phemex0.2864+6.512%

BloFin0.2866+6.579%

edgeX0.2912+8.297%

Variational Omni0.2919+8.563%

USELESS on 24 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective USELESS/USDC PERPlong	0.000%	−0.5000%	1h	$3K	$18K	5.5x
Bitget USELESSUSDT	+5.913%	+0.0206%	4h	$5.4M	$6.7M	20x	as long as short
Bybit USELESSUSDT	+5.939%	+0.0977%	4h	$28.1M	$36.4M	13x	as long as short
OKX USELESS-USDT-SWAP	+5.961%	+0.0100%	4h	$9.8M	$55.9M	10x	as long as short
BingX USELESS-USDTshort	+6.036%	+0.0662%	4h	—	$4.2M	—
Gate USELESS_USDT	+6.091%	+0.0100%	4h	$6.7M	$6.1M	50x	as long as short
Binance USELESSUSDT	+6.139%	+0.0497%	4h	$24.4M	$89.1M	50x	as long as short
KuCoin USELESSUSDTM	+6.289%	+0.0100%	4h	$5.2M	$7.2M	12x	as long as short
Aster USELESSUSDT	+6.300%	+0.1129%	4h	$679K	$1.4M	10x	as long as short
Aevo USELESS-PERP	+6.345%	+0.0208%	1h	$10K	—	3x	as long as short

Show all 24 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Lighter USELESS	+6.352%	+0.0096%	1h	$1.3M	$951K	3x	as long as short
SunX USELESS-USDT	+6.367%	+0.0100%	4h	—	$1.3M	10x	as long as short
Extended USELESS-USD	+6.385%	+0.0496%	1h	$266K	$917K	5x	as long as short
MEXC USELESS_USDT	+6.411%	+0.0502%	4h	$18.2M	$4.7M	50x	as long as short
Orderly PERP_USELESS_USDC	+6.437%	+0.0976%	4h	$22K	$1.4M	10x	as long as short
HTX USELESS-USDT	+6.452%	+0.0100%	4h	$21K	$320K	20x	as long as short
Pacifica USELESS	+6.492%	+0.0100%	1h	$29K	$104K	3x	as long as short
Polymarket Perps USELESS-USD	+6.493%	+0.0848%	1h	$34K	$113K	3x	as long as short
Hyperliquid USELESS	+6.501%	+0.0981%	1h	$13.6M	$14.4M	3x	as long as short
ApeX Omni USELESSUSDT	+6.508%	+0.0100%	1h	$37K	$690K	25x	as long as short
Phemex USELESSUSDT	+6.512%	+0.0262%	4h	$512K	$1.3M	20x	as long as short
BloFin USELESS-USDT	+6.579%	+0.1052%	4h	$1.2M	$1.7M	12x	as long as short
edgeX USELESSUSDC	+8.297%	+0.0523%	4h	$22K	$185K	10x	as long as short
Variational Omni USELESS	+8.563%	+0.0429%	4h	$1.2M	$1.5M	—	as long as short