USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0883%/8h= +96.7% APRnext payment +$4.42 per $10,000 · paid last 24h +0.295%

Price spread now: Orderly against OKX+0.267%7-day average +0.025% · you sell dearer than you buy

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

Long on OKX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.998%+$100 on $10k

Price spread, last 4 days (all we have)−0.912%−$91 · spread now +0.267%, 7d avg +0.025%

Together, before fees+0.086%+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$26 a day on $10k at the current rate, and Orderly is 0.242% dearer against OKX than usual: you sell high and buy low: +$24 more if the spread goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX USELESS-USDT-SWAP	0.2962	0.0100	pay 0.0050% / 4h	2h 59m	$10.9M	$77.2M	10x
Short	Orderly PERP_USELESS_USDC	0.2969	0.0983	get 0.0492% / 4h	2h 59m	$22K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.267%Rate

Funding earned: $185.49
Price spread: +0.267% → +0.025%: $24.21
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $193.7
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: OKX: live order book, 5 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 OKX live order book, 5 min ago	1.67 bp	18.8 bp −$19	83.9 bp −$839	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	0.2965	+0.101%	$1.4M	$1.1M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2964	+0.074%	$13.6M	$24.0M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.3010	+1.638%	$32K	$20K	3x	as long as short
OKX USELESS-USDT-SWAPlong	+0.0100%	4h	0.2962	long leg	$10.9M	$77.2M	10x
KuCoin USELESSUSDTM	+0.0100%	4h	0.2959	−0.098%	$5.4M	$10.9M	12x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2960	−0.054%	$5.8M	$11.4M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.3001	+1.344%	$29K	$284K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2968	+0.199%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2940	−0.712%	$40K	$563K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2963	+0.047%	$675K	$1.3M	20x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo USELESS-PERP	+0.0232%	1h	0.2978	+0.547%	$11K	—	3x	as long as short
Aster USELESSUSDT	+0.0326%	4h	0.2969	+0.233%	$658K	$2.4M	10x	as long as short
Gate USELESS_USDT	+0.0470%	4h	0.2965	+0.128%	$7.5M	$8.6M	50x	as long as short
edgeX USELESSUSDC	+0.0576%	4h	0.3010	+1.632%	$23K	$201K	10x	as long as short
MEXC USELESS_USDT	+0.0598%	4h	0.2962	+0.010%	$15.0M	$6.8M	50x	as long as short
Binance USELESSUSDT	+0.0599%	4h	0.2966	+0.153%	$25.7M	$134.3M	50x	as long as short
Extended USELESS-USD	+0.0600%	1h	0.2974	+0.411%	$285K	$1.6M	5x	as long as short
ApeX Omni USELESSUSDT	+0.0871%	1h	0.3006	+1.499%	$56K	$691K	25x	as long as short
Orderly PERP_USELESS_USDCshort	+0.0983%	4h	0.2969	+0.267%	$22K	$2.0M	10x
Variational Omni USELESS	+0.1077%	4h	0.3011	+1.654%	$1.3M	$1.7M	—	as long as short
BingX USELESS-USDT	+0.1358%	4h	0.2961	−0.024%	—	$5.7M	—	as long as short
Bybit USELESSUSDT	+0.1397%	4h	0.2961	−0.014%	$29.5M	$53.5M	13x	as long as short
BloFin USELESS-USDT	+0.1881%	4h	0.2970	+0.294%	$1.3M	$2.3M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3187	+7.624%	$5K	$10K	5.5x	as long as short