USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0551%/8h= −60.3% APRnext payment −$2.76 per $10,000 · paid last 24h −0.191%

Price spread now: Binance against Orderly−0.084%7-day average +0.017% · you buy dearer than you sell

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

Long on Orderly Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.782%−$78 on $10k

Price spread, last 4 days (all we have)+0.171%+$17 · spread now −0.084%, 7d avg +0.017%

Together, before fees−0.612%−$61 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Binance is 0.101% cheaper against Orderly than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.017%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_USELESS_USDC	0.2966	0.0969	pay 0.0485% / 4h	3h 51m	$21K	$1.8M	10x
Short	Binance USELESSUSDT	0.2963	0.0418	get 0.0209% / 4h	3h 51m	$24.8M	$128.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Orderly. 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 OrderlybpFee BinancebpOrdersPrice spread, now −0.084%Rate

Funding earned: −$115.73
Price spread: −0.084% → +0.017%: −$10.06
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: −$141.79
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Binance: live order book, 6 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 Binance live order book, 6 min ago	1.88 bp	15.0 bp −$15	70.0 bp −$700	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	0.2967	+0.034%	$1.4M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2963	−0.100%	$31K	$19K	3x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2963	−0.101%	$5.7M	$11.1M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2968	+0.061%	$29K	$284K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2962	−0.125%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2964	−0.051%	$20K	$515K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2965	−0.034%	$679K	$1.3M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0116%	4h	0.2960	−0.206%	$10.5M	$75.8M	10x	as long as short
KuCoin USELESSUSDTM	+0.0118%	4h	0.2959	−0.219%	$5.4M	$10.8M	12x	as long as short
Aevo USELESS-PERP	+0.0184%	1h	0.2968	+0.064%	$11K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster USELESSUSDT	+0.0339%	4h	0.2963	−0.081%	$583K	$2.2M	10x	as long as short
edgeX USELESSUSDC	+0.0385%	4h	0.2919	−1.569%	$22K	$198K	10x	as long as short
Extended USELESS-USD	+0.0416%	1h	0.2962	−0.132%	$282K	$1.7M	5x	as long as short
MEXC USELESS_USDT	+0.0418%	4h	0.2966	−0.003%	$13.5M	$6.3M	50x	as long as short
Binance USELESSUSDTshort	+0.0418%	4h	0.2963	−0.084%	$24.8M	$128.8M	50x
Gate USELESS_USDT	+0.0604%	4h	0.2963	−0.108%	$7.4M	$8.7M	50x	as long as short
Variational Omni USELESS	+0.0779%	4h	0.2921	−1.493%	$1.2M	$1.9M	—	as long as short
Orderly PERP_USELESS_USDClong	+0.0969%	4h	0.2966	long leg	$21K	$1.8M	10x
BingX USELESS-USDT	+0.1184%	4h	0.2961	−0.152%	—	$5.4M	—	as long as short
Hyperliquid USELESS	+0.1215%	1h	0.2968	+0.074%	$13.0M	$23.8M	3x	as long as short
Bybit USELESSUSDT	+0.1448%	4h	0.2961	−0.148%	$28.8M	$51.7M	13x	as long as short
BloFin USELESS-USDT	+0.1598%	4h	0.2959	−0.229%	$1.2M	$2.3M	12x	as long as short
ApeX Omni USELESSUSDT	+0.1634%	1h	0.2915	−1.710%	$54K	$700K	25x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3105	+4.690%	$5K	$10K	5.5x	as long as short