USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1111%/8h= −121.6% APRnext payment −$5.55 per $10,000 · paid last 24h −0.241%

Price spread now: OKX against Orderly−0.087%7-day average −0.026% · you buy dearer than you sell

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

Long on Orderly Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.854%−$85 on $10k

Price spread, last 3 days (all we have)+0.185%+$18 · spread now −0.087%, 7d avg −0.026%

Together, before fees−0.669%−$67 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$33 a day on $10k at the current rate, and OKX is 0.061% cheaper against Orderly than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.026%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_USELESS_USDC	0.2866	0.1211	pay 0.0605% / 4h	2h 03m	$22K	$1.4M	10x
Short	OKX USELESS-USDT-SWAP	0.2864	0.0100	get 0.0050% / 4h	2h 03m	$10.2M	$64.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.087%Rate

Funding earned: −$233.21
Price spread: −0.087% → −0.026%: −$6.11
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$255.32
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; OKX: 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 OKX live order book, 5 min ago	1.24 bp	23.2 bp −$23	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	0.2865	−0.056%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2856	−0.349%	$32K	$70K	3x	as long as short
OKX USELESS-USDT-SWAPshort	+0.0100%	4h	0.2864	−0.087%	$10.2M	$64.6M	10x
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2861	−0.195%	$28K	$140K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2858	−0.307%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2853	−0.471%	$20K	$388K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2846	−0.701%	$572K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0232%	1h	0.2865	−0.033%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0292%	4h	0.2862	−0.150%	$5.3M	$9.7M	12x	as long as short
ApeX Omni USELESSUSDT	+0.0346%	1h	0.2849	−0.607%	$41K	$698K	25x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0450%	4h	0.2859	−0.241%	$7.1M	$7.9M	50x	as long as short
Bitget USELESSUSDT	+0.0524%	4h	0.2866	−0.003%	$5.5M	$8.8M	20x	as long as short
MEXC USELESS_USDT	+0.0594%	4h	0.2868	+0.045%	$10.1M	$5.9M	50x	as long as short
Extended USELESS-USD	+0.0600%	1h	0.2868	+0.064%	$301K	$968K	5x	as long as short
Binance USELESSUSDT	+0.0603%	4h	0.2866	−0.014%	$24.4M	$110.8M	50x	as long as short
edgeX USELESSUSDC	+0.0608%	4h	0.2849	−0.620%	$21K	$190K	10x	as long as short
BingX USELESS-USDT	+0.1094%	4h	0.2866	0.000%	—	$4.9M	—	as long as short
Orderly PERP_USELESS_USDClong	+0.1211%	4h	0.2866	long leg	$22K	$1.4M	10x
Aster USELESSUSDT	+0.1283%	4h	0.2864	−0.087%	$663K	$2.2M	10x	as long as short
Variational Omni USELESS	+0.1388%	4h	0.2853	−0.460%	$1.2M	$1.8M	—	as long as short
Bybit USELESSUSDT	+0.1392%	4h	0.2864	−0.066%	$29.1M	$43.1M	13x	as long as short
Hyperliquid USELESS	+0.1525%	1h	0.2869	+0.080%	$14.7M	$19.8M	3x	as long as short
BloFin USELESS-USDT	+0.1621%	4h	0.2851	−0.537%	$1.2M	$1.9M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3006	+4.884%	$5K	$10K	5.5x	as long as short