Funding you earn now, next payment 20:00 UTC−0.4554%/8hpaid last 24h +1.621%
Price spread now: Phemex against Injective−5.685%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$137 a day on $10k at the current rate, and Phemex is 5.685% cheaper against Injective than usual: you would sell low and buy high (−$569 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective USELESS/USDC PERP | 0.3090 | 0.4654 | pay 0.0582% / 1h | 46m 33s | $5K | $14K | 5.5x |
| Short | Phemex USELESSUSDT | 0.2915 | 0.0100 | get 0.0050% / 4h | 46m 33s | $556K | $1.4M | 20x |
Injective USELESS/USDC PERP
Phemex USELESSUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Injective. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$956.28
- Price spread: −5.685% → 0.000%
- −$568.52
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$1,536.82
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Injective: no order-book sample; Phemex: live order book, 1 min ago. 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 Injective no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 1 min ago | 14.75 bp | 56.8 bp −$57 | doesn't fit | doesn't fit | 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 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 | 0.2917 | −5.608% | $1.3M | $947K | 3x | as long as short |
| Pacifica USELESS | +0.0100% | 1h | 0.2915 | −5.675% | $32K | $72K | 3x | as long as short |
| OKX USELESS-USDT-SWAP | +0.0100% | 4h | 0.2913 | −5.727% | $10.0M | $60.2M | 10x | as long as short |
| Gate USELESS_USDT | +0.0100% | 4h | 0.2916 | −5.646% | $7.0M | $6.7M | 50x | as long as short |
| KuCoin USELESSUSDTM | +0.0100% | 4h | 0.2918 | −5.578% | $5.3M | $8.3M | 12x | as long as short |
| ApeX Omni USELESSUSDT | +0.0100% | 1h | 0.2911 | −5.808% | $36K | $691K | 25x | as long as short |
| Polymarket Perps USELESS-USD | +0.0100% | 1h | 0.2918 | −5.585% | $28K | $111K | 3x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2915 | −5.675% | — | $1.3M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2911 | −5.808% | $20K | $350K | 20x | as long as short |
| Phemex USELESSUSDTshort | +0.0100% | 4h | 0.2915 | −5.685% | $556K | $1.4M | 20x |
Lighter USELESS
Pacifica USELESS
OKX USELESS-USDT-SWAP
Gate USELESS_USDT
KuCoin USELESSUSDTM
ApeX Omni USELESSUSDT
Polymarket Perps USELESS-USD
SunX USELESS-USDT
HTX USELESS-USDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget USELESSUSDT | +0.0182% | 4h | 0.2917 | −5.617% | $5.5M | $7.3M | 20x | as long as short |
| Aevo USELESS-PERP | +0.0192% | 1h | 0.2917 | −5.627% | $10K | — | 3x | as long as short |
| Bybit USELESSUSDT | +0.0220% | 4h | 0.2917 | −5.627% | $28.5M | $37.9M | 13x | as long as short |
| Variational Omni USELESS | +0.0301% | 4h | 0.2917 | −5.611% | $1.2M | $1.5M | — | as long as short |
| Hyperliquid USELESS | +0.0394% | 1h | 0.2920 | −5.530% | $13.6M | $16.0M | 3x | as long as short |
| edgeX USELESSUSDC | +0.0408% | 4h | 0.2919 | −5.557% | $22K | $187K | 10x | as long as short |
| BingX USELESS-USDT | +0.0412% | 4h | 0.2924 | −5.384% | — | $4.5M | — | as long as short |
| BloFin USELESS-USDT | +0.0436% | 4h | 0.2913 | −5.753% | $1.2M | $1.8M | 12x | as long as short |
| Extended USELESS-USD | +0.0440% | 1h | 0.2922 | −5.436% | $267K | $919K | 5x | as long as short |
| MEXC USELESS_USDT | +0.0442% | 4h | 0.2918 | −5.565% | $20.1M | $5.1M | 50x | as long as short |
| Binance USELESSUSDT | +0.0443% | 4h | 0.2916 | −5.633% | $24.9M | $96.5M | 50x | as long as short |
| Orderly PERP_USELESS_USDC | +0.0906% | 4h | 0.2916 | −5.656% | $23K | $1.4M | 10x | as long as short |
| Aster USELESSUSDT | +0.0957% | 4h | 0.2918 | −5.587% | $677K | $2.0M | 10x | as long as short |
| Injective USELESS/USDC PERPlong | +0.4654% | 1h | 0.3090 | long leg | $5K | $14K | 5.5x |
Bitget USELESSUSDT
Aevo USELESS-PERP
Bybit USELESSUSDT
Variational Omni USELESS
Hyperliquid USELESS
edgeX USELESSUSDC
BingX USELESS-USDT
BloFin USELESS-USDT
Extended USELESS-USD
MEXC USELESS_USDT
Binance USELESSUSDT
Orderly PERP_USELESS_USDC
Aster USELESSUSDT