USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.1335%/8h= +146.2% APRnext payment +$6.67 per $10,000 · paid last 24h +0.215%

Price spread now: BloFin against OKX+0.074%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs+$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$690.693% of the position

Long on OKX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.814%+$81 on $10k

Price spread, last 4 days (all we have)−0.418%−$42 · spread now +0.074%, 7d avg +0.027%

Together, before fees+0.396%+$40 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$40 a day on $10k at the current rate, and BloFin is 0.047% dearer against OKX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.027%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.814% in total (about 42.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$6.67 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	OKX USELESS-USDT-SWAP	0.2967	0.0129	pay 0.0064% / 4h	1h 52m	$11.0M	$74.5M	10x
Short	BloFin USELESS-USDT	0.2969	0.1464	get 0.0732% / 4h	1h 52m	$1.3M	$2.3M	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.074%Rate

Funding earned: $280.29
Price spread: +0.074% → +0.027%: $4.68
Slippage, 4 orders: −$47.35
Fee OKX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $215.63
Costs to cover: 0.693%
Break-even: 1.6 days

Slippage from OKX: live order book, 4 min ago; BloFin: 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 OKX live order book, 4 min ago	1.18 bp	13.6 bp −$14	74.9 bp −$749	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	5.07 bp	17.6 bp −$18	34.3 bp −$343	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	0.3187	+7.446%	$5K	$10K	5.5x	as long as short
Lighter USELESS	+0.0096%	1h	0.2967	+0.017%	$1.4M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2958	−0.291%	$31K	$18K	3x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2961	−0.182%	$29K	$284K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2967	+0.030%	—	$1.3M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2950	−0.553%	$38K	$545K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2953	−0.445%	$692K	$1.3M	20x	as long as short
KuCoin USELESSUSDTM	+0.0120%	4h	0.2961	−0.192%	$5.5M	$10.6M	12x	as long as short
OKX USELESS-USDT-SWAPlong	+0.0129%	4h	0.2967	long leg	$11.0M	$74.5M	10x
Aevo USELESS-PERP	+0.0232%	1h	0.2962	−0.161%	$11K	—	3x	as long as short

Show all 24 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0254%	4h	0.2966	−0.017%	$5.9M	$10.7M	20x	as long as short
Gate USELESS_USDT	+0.0412%	4h	0.2960	−0.233%	$7.4M	$8.4M	50x	as long as short
Aster USELESSUSDT	+0.0480%	4h	0.2967	+0.003%	$643K	$2.4M	10x	as long as short
edgeX USELESSUSDC	+0.0579%	4h	0.2957	−0.307%	$22K	$200K	10x	as long as short
Binance USELESSUSDT	+0.0604%	4h	0.2967	+0.026%	$25.5M	$131.6M	50x	as long as short
Extended USELESS-USD	+0.0608%	1h	0.2965	−0.056%	$281K	$1.7M	5x	as long as short
MEXC USELESS_USDT	+0.0608%	4h	0.2965	−0.040%	$15.7M	$7.0M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0762%	1h	0.2950	−0.556%	$56K	$687K	25x	as long as short
Hyperliquid USELESS	+0.0982%	1h	0.2969	+0.084%	$13.7M	$22.9M	3x	as long as short
BingX USELESS-USDT	+0.1048%	4h	0.2966	−0.003%	—	$5.7M	—	as long as short
Orderly PERP_USELESS_USDC	+0.1121%	4h	0.2968	+0.034%	$24K	$1.9M	10x	as long as short
Bybit USELESSUSDT	+0.1135%	4h	0.2966	−0.030%	$29.2M	$52.3M	13x	as long as short
Variational Omni USELESS	+0.1163%	4h	0.2963	−0.105%	$1.2M	$1.9M	—	as long as short
BloFin USELESS-USDTshort	+0.1464%	4h	0.2969	+0.074%	$1.3M	$2.3M	12x