Funding you earn now, next payment 08:00 UTC−0.1050%/8h= −115.0% APRnext payment −$5.25 per $10,000 · paid last 24h −0.082%
Price spread now: Aster against Orderly−0.049%7-day average −0.025% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 6 days (all we have)−0.266%−$27 on $10k
+Price spread, last 4 days (all we have)+0.050%+$5 · spread now −0.049%, 7d avg −0.025%
=Together, before fees−0.217%+ Points / potential airdropAster: Stage 5 · farm board−$22 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$32 a day on $10k at the current rate, and Aster is 0.024% cheaper against Orderly than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.025%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 6 days it paid -0.266% in total (about -17.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$5.25 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 | Orderly PERP_USELESS_USDC | 0.2758 | 0.1150 | pay 0.0575% / 4h | 2h 18m | $22K | $1.2M | 10x |
| Short | Aster USELESSUSDT | 0.2756 | 0.0100 | get 0.0050% / 4h | 2h 18m | $540K | $2.1M | 10x |
Orderly PERP_USELESS_USDC
Aster USELESSUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Aster against Orderly. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$220.53
- Price spread: −0.049% → −0.025%
- −$2.4
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Aster: 4 bp × 2 orders
- −$8
- Net
- −$236.92
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Aster: live order book, 5 min ago. 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Aster live order book, 5 min ago | 12.56 bp | 28.7 bp −$29 | 145.9 bp −$1,459 | doesn't fit | doesn't fit |
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 | 0.2751 | −0.265% | $1.3M | $1.2M | 3x | as long as short |
| Hyperliquid USELESS | +0.0100% | 1h | 0.2763 | +0.189% | $12.1M | $23.3M | 3x | as long as short |
| Aster USELESSUSDTshort | +0.0100% | 4h | 0.2756 | −0.049% | $540K | $2.1M | 10x | |
| Pacifica USELESS | +0.0100% | 1h | 0.2775 | +0.624% | $30K | $19K | 3x | as long as short |
| Bitget USELESSUSDT | +0.0100% | 4h | 0.2751 | −0.236% | $5.2M | $10.4M | 20x | as long as short |
| Polymarket Perps USELESS-USD | +0.0100% | 1h | 0.2765 | +0.265% | $27K | $253K | 3x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2754 | −0.127% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2756 | −0.054% | $19K | $518K | 20x | as long as short |
| Phemex USELESSUSDT | +0.0100% | 4h | 0.2748 | −0.341% | $648K | $1.1M | 20x | as long as short |
| KuCoin USELESSUSDTM | +0.0106% | 4h | 0.2760 | +0.094% | $5.1M | $10.6M | 12x | as long as short |
Lighter USELESS
Hyperliquid USELESS
Pacifica USELESS
Bitget USELESSUSDT
Polymarket Perps USELESS-USD
SunX USELESS-USDT
HTX USELESS-USDT
Phemex USELESSUSDT
KuCoin USELESSUSDTMShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aevo USELESS-PERP | +0.0136% | 1h | 0.2756 | −0.082% | $10K | — | 3x | as long as short |
| OKX USELESS-USDT-SWAP | +0.0156% | 4h | 0.2752 | −0.207% | $9.5M | $67.5M | 10x | as long as short |
| edgeX USELESSUSDC | +0.0207% | 4h | 0.2720 | −1.377% | $20K | $196K | 10x | as long as short |
| MEXC USELESS_USDT | +0.0216% | 4h | 0.2752 | −0.192% | $11.2M | $6.1M | 50x | as long as short |
| Binance USELESSUSDT | +0.0237% | 4h | 0.2751 | −0.234% | $22.9M | $122.9M | 50x | as long as short |
| Extended USELESS-USD | +0.0240% | 1h | 0.2756 | −0.082% | $138K | $1.2M | 5x | as long as short |
| Bybit USELESSUSDT | +0.0322% | 4h | 0.2751 | −0.265% | $25.9M | $48.7M | 13x | as long as short |
| ApeX Omni USELESSUSDT | +0.0391% | 1h | 0.2701 | −2.060% | $48K | $698K | 25x | as long as short |
| BingX USELESS-USDT | +0.0426% | 4h | 0.2756 | −0.051% | — | $5.3M | — | as long as short |
| Variational Omni USELESS | +0.0434% | 4h | 0.2715 | −1.553% | $1.0M | $1.8M | — | as long as short |
| BloFin USELESS-USDT | +0.0599% | 4h | 0.2772 | +0.497% | $1.2M | $2.1M | 12x | as long as short |
| Gate USELESS_USDT | +0.0734% | 4h | 0.2759 | +0.051% | $6.9M | $8.6M | 50x | as long as short |
| Orderly PERP_USELESS_USDClong | +0.1150% | 4h | 0.2758 | long leg | $22K | $1.2M | 10x | |
| Injective USELESS/USDC PERP | +0.5000% | 1h | 0.2826 | +2.480% | $5K | $11K | 5.5x | as long as short |
Aevo USELESS-PERP
OKX USELESS-USDT-SWAP
edgeX USELESSUSDC
MEXC USELESS_USDT
Binance USELESSUSDT
Extended USELESS-USD
Bybit USELESSUSDT
ApeX Omni USELESSUSDT
BingX USELESS-USDT
Variational Omni USELESS
BloFin USELESS-USDT
Gate USELESS_USDT
Injective USELESS/USDC PERP