Funding you earn now, next payment 04:00 UTC−0.0374%/8h= −41.0% APRnext payment −$1.87 per $10,000 · paid last 24h −0.046%
Price spread now: BloFin against Orderly−0.323%112s7-day average +0.049% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.144%−$14 on $10k
+Price spread, last 3 days (all we have)+0.242%+$24 · spread now −0.323%, 7d avg +0.049%
=Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and BloFin is 0.372% cheaper against Orderly than usual: you would sell low and buy high (−$37 if the spread goes back to its 7-day average of +0.049%). Swap the legs. The two prices were read 112 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.144% in total (about -7.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.87 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 | 0.2844 | 0.1261 | pay 0.0630% / 4h | 2h 47m | $22K | $1.4M | 10x |
| Short | BloFin USELESS-USDT | 0.2835 | 0.0886 | get 0.0443% / 4h | 2h 47m | $1.2M | $2.1M | 12x |
Orderly PERP_USELESS_USDC
BloFin USELESS-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$78.6
- Price spread: −0.323% → +0.049%
- −$37.2
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$133.79
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; BloFin: 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 BloFin live order book, 6 min ago | 1.76 bp | 15.5 bp −$15 | doesn't fit | 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 | 0.2837 | −0.253% | $1.3M | $1.1M | 3x | as long as short |
| Pacifica USELESS | +0.0100% | 1h | 0.2846 | +0.055% | $32K | $69K | 3x | as long as short |
| OKX USELESS-USDT-SWAP | +0.0100% | 4h | 0.2835 | −0.327% | $10.0M | $67.1M | 10x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2851 | +0.225% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2838 | −0.229% | $19K | $515K | 20x | as long as short |
| Phemex USELESSUSDT | +0.0100% | 4h | 0.2833 | −0.380% | $599K | $1.2M | 20x | as long as short |
| KuCoin USELESSUSDTM | +0.0102% | 4h | 0.2844 | −0.004% | $5.2M | $10.2M | 12x | as long as short |
| Aevo USELESS-PERP | +0.0208% | 1h | 0.2839 | −0.169% | $10K | — | 3x | as long as short |
| Gate USELESS_USDT | +0.0232% | 4h | 0.2839 | −0.183% | $7.1M | $8.3M | 50x | as long as short |
| edgeX USELESSUSDC | +0.0498% | 4h | 0.2841 | −0.130% | $21K | $194K | 10x | as long as short |
Lighter USELESS
Pacifica USELESS
OKX USELESS-USDT-SWAP
SunX USELESS-USDT
HTX USELESS-USDT
Phemex USELESSUSDT
KuCoin USELESSUSDTM
Aevo USELESS-PERP
Gate USELESS_USDT
edgeX USELESSUSDCShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC USELESS_USDT | +0.0514% | 4h | 0.2839 | −0.179% | $11.0M | $6.0M | 50x | as long as short |
| Binance USELESSUSDT | +0.0528% | 4h | 0.2837 | −0.260% | $24.0M | $117.6M | 50x | as long as short |
| Extended USELESS-USD | +0.0528% | 1h | 0.2842 | −0.085% | $300K | $1.2M | 5x | as long as short |
| Bitget USELESSUSDT | +0.0578% | 4h | 0.2837 | −0.264% | $5.4M | $9.9M | 20x | as long as short |
| BingX USELESS-USDT | +0.0594% | 4h | 0.2844 | +0.007% | — | $5.1M | — | as long as short |
| Bybit USELESSUSDT | +0.0601% | 4h | 0.2836 | −0.306% | $27.6M | $46.7M | 13x | as long as short |
| Polymarket Perps USELESS-USD | +0.0703% | 1h | 0.2848 | +0.116% | $42K | $186K | 3x | as long as short |
| BloFin USELESS-USDTshort | +0.0886% | 4h | 0.2835 | −0.323% | $1.2M | $2.1M | 12x | |
| Variational Omni USELESS | +0.0917% | 4h | 0.2853 | +0.289% | $1.2M | $1.7M | — | as long as short |
| Aster USELESSUSDT | +0.1061% | 4h | 0.2846 | +0.074% | $653K | $2.2M | 10x | as long as short |
| Orderly PERP_USELESS_USDClong | +0.1261% | 4h | 0.2844 | long leg | $22K | $1.4M | 10x | |
| Hyperliquid USELESS | +0.1284% | 1h | 0.2847 | +0.098% | $14.2M | $21.1M | 3x | as long as short |
| ApeX Omni USELESSUSDT | +0.1298% | 1h | 0.2831 | −0.468% | $39K | $699K | 25x | as long as short |
| Injective USELESS/USDC PERP | +0.5000% | 1h | 0.3027 | +6.413% | $5K | $9K | 5.5x | as long as short |
MEXC USELESS_USDT
Binance USELESSUSDT
Extended USELESS-USD
Bitget USELESSUSDT
BingX USELESS-USDT
Bybit USELESSUSDT
Polymarket Perps USELESS-USD
Variational Omni USELESS
Aster USELESSUSDT
Hyperliquid USELESS
ApeX Omni USELESSUSDT
Injective USELESS/USDC PERP