USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0421%/8h= +46.1% APRnext payment +$2.11 per $10,000 · paid last 24h +0.142%

Price spread now: BingX against OKX+0.012%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$850.852% of the position

Long on OKX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.269%+$27 on $10k

Price spread, last 7 days−0.018%−$2 · spread now +0.012%, 7d avg +0.055%

Together, before fees+0.251%+$25 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.043% cheaper against OKX than usual: you would sell low and buy high (spread +0.012% now, against its 7-day average of +0.055%). If the spread goes back, that is −$4 on $10k: about 8 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.269% in total) that is about 27 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.269% in total (about 14.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.11 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX USELESS-USDT-SWAP	0.2543	0.0211	pay 0.0105% / 4h	40m 46s	$8.8M	$62.7M	10x
Short	BingX USELESS-USDT	0.2544	0.0632	get 0.0316% / 4h	40m 46s	—	$5.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against OKX. 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 OKXbpFee BingXbpOrdersPrice spread, now +0.012%Rate

Funding earned: $88.5
Price spread: +0.012% → +0.055%: −$4.31
Slippage, 4 orders: −$65.22
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$1.02
Costs to cover: 0.852%
Break-even: 7.1 days

Slippage from OKX: live order book, 3 min ago; BingX: live order book, 9 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 OKX live order book, 3 min ago	1.96 bp	21.1 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	5.12 bp	21.8 bp −$22	58.9 bp −$589	316.8 bp −$31.7K	933.8 bp −$466.9K

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	0.2537	−0.228%	$1.1M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2543	−0.020%	$11.4M	$22.8M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2541	−0.099%	$28K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2536	−0.275%	$6.3M	$8.7M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	0.2554	+0.425%	$33K	$699K	25x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2540	−0.138%	$35K	$219K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2540	−0.126%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2539	−0.157%	$17K	$520K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2537	−0.256%	$561K	$1.1M	20x	as long as short
Aevo USELESS-PERP	+0.0200%	1h	0.2538	−0.204%	$9K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX USELESS-USDT-SWAPlong	+0.0211%	4h	0.2543	long leg	$8.8M	$62.7M	10x
KuCoin USELESSUSDTM	+0.0228%	4h	0.2542	−0.063%	$4.6M	$10.7M	12x	as long as short
Bitget USELESSUSDT	+0.0400%	4h	0.2541	−0.083%	$4.9M	$10.5M	20x	as long as short
Binance USELESSUSDT	+0.0486%	4h	0.2543	+0.003%	$21.2M	$123.5M	50x	as long as short
Extended USELESS-USD	+0.0488%	1h	0.2543	+0.005%	$112K	$1.2M	5x	as long as short
edgeX USELESSUSDC	+0.0492%	4h	0.2545	+0.087%	$19K	$195K	10x	as long as short
MEXC USELESS_USDT	+0.0496%	4h	0.2544	+0.012%	$10.2M	$6.2M	50x	as long as short
Aster USELESSUSDT	+0.0580%	4h	0.2539	−0.165%	$503K	$2.4M	10x	as long as short
Bybit USELESSUSDT	+0.0629%	4h	0.2541	−0.083%	$24.3M	$48.8M	13x	as long as short
BingX USELESS-USDTshort	+0.0632%	4h	0.2544	+0.012%	—	$5.3M	—
Variational Omni USELESS	+0.0794%	4h	0.2540	−0.138%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.0869%	4h	0.2538	−0.204%	$1.1M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1313%	4h	0.2538	−0.197%	$19K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2689	+5.737%	$5K	$11K	5.5x	as long as short