USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0960%/8h= +105.1% APRnext payment +$4.80 per $10,000 · paid last 24h +0.135%

Price spread now: Bybit against KuCoin−0.142%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$125as in the Price arb table

costs, in and out, $10k−$1081.079% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.102%+$10 on $10k

Price spread, last 7 days+0.081%+$8 · spread now −0.142%, 7d avg +0.026%

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

Funding pays, the price is against you. Bybit is 0.168% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.142% now, against its 7-day average of +0.026%). If the spread goes back, that is −$17 on $10k: about 14 hours of funding at the current rate (+$29 a day). At the pace of the last 7 days (+0.102% in total) that is about 12 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.102% in total (about 5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.80 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin USELESSUSDTM	0.3024	0.0354	pay 0.0177% / 4h	1h 08m	$5.7M	$10.3M	10x
Short	Bybit USELESSUSDT	0.3020	0.1314	get 0.0657% / 4h	1h 08m	$29.9M	$52.0M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpFee BybitbpOrdersPrice spread, now −0.142%Rate

Funding earned: $201.63
Price spread: −0.142% → +0.026%: −$16.85
Slippage, 4 orders: −$84.91
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $76.87
Costs to cover: 1.079%
Break-even: 4.3 days

Slippage from KuCoin: live order book, 3 min ago; Bybit: 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 KuCoin live order book, 3 min ago	7.65 bp	32.5 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.33 bp	20.9 bp −$21	46.2 bp −$462	doesn't fit	doesn't fit

USELESS on 24 exchanges

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
Injective USELESS/USDC PERP	+0.0033%	1h	0.3171	+4.864%	$5K	$10K	5.5x	as long as short
Pacifica USELESS	+0.0100%	1h	0.3026	+0.055%	$32K	$18K	3x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.3013	−0.384%	$29K	$291K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.3015	−0.304%	—	$1.2M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.3005	−0.632%	$38K	$535K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.3001	−0.764%	$710K	$1.3M	20x	as long as short
Lighter USELESS	+0.0144%	1h	0.3024	+0.003%	$1.4M	$1.1M	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0200%	4h	0.3021	−0.112%	$11.6M	$73.5M	10x	as long as short
Aevo USELESS-PERP	+0.0272%	1h	0.3015	−0.293%	$11K	—	3x	as long as short
KuCoin USELESSUSDTMlong	+0.0354%	4h	0.3024	long leg	$5.7M	$10.3M	10x

Show all 24 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0408%	4h	0.3022	−0.063%	$6.0M	$10.6M	20x	as long as short
edgeX USELESSUSDC	+0.0735%	4h	0.2995	−0.968%	$22K	$200K	10x	as long as short
Aster USELESSUSDT	+0.0741%	4h	0.3020	−0.125%	$657K	$2.4M	10x	as long as short
MEXC USELESS_USDT	+0.0782%	4h	0.3026	+0.063%	$17.0M	$7.4M	50x	as long as short
Extended USELESS-USD	+0.0784%	1h	0.3023	−0.042%	$296K	$1.7M	5x	as long as short
Binance USELESSUSDT	+0.0787%	4h	0.3019	−0.155%	$26.2M	$130.3M	50x	as long as short
Gate USELESS_USDT	+0.0816%	4h	0.3015	−0.304%	$7.6M	$8.7M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0882%	1h	0.2991	−1.095%	$56K	$696K	25x	as long as short
Hyperliquid USELESS	+0.1092%	1h	0.3029	+0.152%	$14.1M	$21.4M	3x	as long as short
BingX USELESS-USDT	+0.1126%	4h	0.3023	−0.023%	—	$5.7M	—	as long as short
Variational Omni USELESS	+0.1304%	4h	0.3015	−0.285%	$1.3M	$1.9M	—	as long as short
Bybit USELESSUSDTshort	+0.1314%	4h	0.3020	−0.142%	$29.9M	$52.0M	13x
Orderly PERP_USELESS_USDC	+0.1321%	4h	0.3019	−0.182%	$25K	$1.8M	10x	as long as short
BloFin USELESS-USDT	+0.1685%	4h	0.3015	−0.308%	$1.4M	$2.4M	12x	as long as short