USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0851%/8h= +93.2% APRnext payment +$4.26 per $10,000 · paid last 24h +0.272%

Price spread now: Orderly against KuCoin−0.173%7-day average +0.040% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.755%+$75 on $10k

Price spread, last 4 days (all we have)+0.191%+$19 · spread now −0.173%, 7d avg +0.040%

Together, before fees+0.945%+$95 on $10k · with fees, hour by hour

Funding pays, the price is against you. Orderly is 0.212% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.173% now, against its 7-day average of +0.040%). If the spread goes back, that is −$21 on $10k: about 20 hours of funding at the current rate (+$26 a day). At the pace of the last 7 days (+0.755% in total) that is about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin USELESSUSDTM	0.2837	0.0100	pay 0.0050% / 4h	59m 32s	$5.2M	$10.7M	12x
Short	Orderly PERP_USELESS_USDC	0.2832	0.0951	get 0.0476% / 4h	59m 32s	$22K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.173%Rate

Funding earned: $178.74
Price spread: −0.173% → +0.040%: −$21.25
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: $139.49
Costs to cover: 0.180%
Break-even: 1.5 days

Slippage unknown: KuCoin: live order book, 9 min ago; Orderly: no order-book sample. 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 KuCoin live order book, 9 min ago	7.40 bp	41.7 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	0.2837	+0.014%	$1.3M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2837	+0.014%	$12.4M	$23.5M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2835	−0.053%	$30K	$19K	3x	as long as short
KuCoin USELESSUSDTMlong	+0.0100%	4h	0.2837	long leg	$5.2M	$10.7M	12x
Bitget USELESSUSDT	+0.0100%	4h	0.2842	+0.194%	$5.5M	$10.5M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2835	−0.063%	$28K	$267K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2834	−0.074%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2831	−0.197%	$19K	$515K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2835	−0.046%	$648K	$1.2M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0106%	4h	0.2839	+0.081%	$9.8M	$71.0M	10x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster USELESSUSDT	+0.0131%	4h	0.2836	−0.025%	$555K	$2.2M	10x	as long as short
Aevo USELESS-PERP	+0.0144%	1h	0.2832	−0.174%	$10K	—	3x	as long as short
edgeX USELESSUSDC	+0.0247%	4h	0.2830	−0.216%	$21K	$198K	10x	as long as short
MEXC USELESS_USDT	+0.0252%	4h	0.2838	+0.056%	$11.9M	$6.1M	50x	as long as short
Binance USELESSUSDT	+0.0252%	4h	0.2839	+0.086%	$23.6M	$124.8M	50x	as long as short
Extended USELESS-USD	+0.0256%	1h	0.2839	+0.079%	$241K	$896K	5x	as long as short
Bybit USELESSUSDT	+0.0427%	4h	0.2838	+0.056%	$26.7M	$49.5M	13x	as long as short
ApeX Omni USELESSUSDT	+0.0441%	1h	0.2829	−0.264%	$52K	$702K	25x	as long as short
BingX USELESS-USDT	+0.0458%	4h	0.2843	+0.240%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0534%	4h	0.2827	−0.351%	$1.2M	$1.9M	—	as long as short
Gate USELESS_USDT	+0.0566%	4h	0.2834	−0.095%	$7.1M	$8.6M	50x	as long as short
BloFin USELESS-USDT	+0.0698%	4h	0.2830	−0.229%	$1.2M	$2.1M	12x	as long as short
Orderly PERP_USELESS_USDCshort	+0.0951%	4h	0.2832	−0.173%	$22K	$1.5M	10x
Injective USELESS/USDC PERP	+0.5000%	1h	0.2999	+5.711%	$5K	$11K	5.5x	as long as short