Funding you earn now, next payment 04:00 UTC−0.0258%/8h= −28.3% APRnext payment −$1.29 per $10,000 · paid last 24h −0.108%
Price spread now: Variational Omni against Orderly+0.527%48s7-day average +0.119% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.367%−$37 on $10k
+Price spread, last 3 days (all we have)−0.555%−$56 · spread now +0.527%, 7d avg +0.119%
=Together, before fees−0.922%+ Points / potential airdropVariational Omni: Active · farm board−$92 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Variational Omni is 0.407% dearer against Orderly than usual: you sell high and buy low (spread +0.527% now, against its 7-day average of +0.119%): +$41 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 5.3 days. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_USELESS_USDC | 0.2900 | 0.1252 | pay 0.0626% / 4h | 3h 08m | $22K | $1.4M | 10x |
| Short | Variational Omni USELESS | 0.2915 | 0.0994 | get 0.0497% / 4h | 3h 08m | $1.2M | $1.7M | — |
Orderly PERP_USELESS_USDC
Variational Omni USELESSFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$54.23
- Price spread: +0.527% → +0.119%
- $40.71
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$19.51
- Costs to cover
- 0.060%
- Break-even
- from the start
Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 1 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 Variational Omni RFQ quote, 1 min ago | 3.45 bp | doesn't fit | 58.6 bp −$586 | 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 | 0.2895 | −0.162% | $1.3M | $1.1M | 3x | as long as short |
| Pacifica USELESS | +0.0100% | 1h | 0.2896 | −0.124% | $32K | $69K | 3x | as long as short |
| OKX USELESS-USDT-SWAP | +0.0100% | 4h | 0.2900 | 0.000% | $10.2M | $68.4M | 10x | as long as short |
| Polymarket Perps USELESS-USD | +0.0100% | 1h | 0.2897 | −0.090% | $49K | $177K | 3x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2900 | +0.014% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2901 | +0.045% | $19K | $512K | 20x | as long as short |
| Phemex USELESSUSDT | +0.0100% | 4h | 0.2897 | −0.090% | $612K | $1.2M | 20x | as long as short |
| KuCoin USELESSUSDTM | +0.0140% | 4h | 0.2897 | −0.114% | $5.3M | $10.2M | 12x | as long as short |
| Aevo USELESS-PERP | +0.0208% | 1h | 0.2901 | +0.021% | $10K | — | 3x | as long as short |
| Gate USELESS_USDT | +0.0340% | 4h | 0.2894 | −0.200% | $7.3M | $8.5M | 50x | as long as short |
Lighter USELESS
Pacifica USELESS
OKX USELESS-USDT-SWAP
Polymarket Perps USELESS-USD
SunX USELESS-USDT
HTX USELESS-USDT
Phemex USELESSUSDT
KuCoin USELESSUSDTM
Aevo USELESS-PERP
Gate USELESS_USDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni USELESSUSDT | +0.0441% | 1h | 0.2909 | +0.310% | $40K | $699K | 25x | as long as short |
| edgeX USELESSUSDC | +0.0486% | 4h | 0.2910 | +0.355% | $22K | $193K | 10x | as long as short |
| Binance USELESSUSDT | +0.0506% | 4h | 0.2898 | −0.077% | $24.5M | $116.9M | 50x | as long as short |
| MEXC USELESS_USDT | +0.0510% | 4h | 0.2895 | −0.155% | $11.2M | $6.0M | 50x | as long as short |
| Extended USELESS-USD | +0.0512% | 1h | 0.2894 | −0.206% | $307K | $1.2M | 5x | as long as short |
| Bitget USELESSUSDT | +0.0580% | 4h | 0.2899 | −0.021% | $5.6M | $9.7M | 20x | as long as short |
| BingX USELESS-USDT | +0.0762% | 4h | 0.2897 | −0.107% | — | $5.1M | — | as long as short |
| Bybit USELESSUSDT | +0.0795% | 4h | 0.2899 | −0.038% | $28.4M | $46.5M | 13x | as long as short |
| Variational Omni USELESSshort | +0.0994% | 4h | 0.2915 | +0.527% | $1.2M | $1.7M | — | |
| BloFin USELESS-USDT | +0.1053% | 4h | 0.2898 | −0.055% | $1.2M | $2.1M | 12x | as long as short |
| Aster USELESSUSDT | +0.1102% | 4h | 0.2894 | −0.203% | $666K | $2.3M | 10x | as long as short |
| Hyperliquid USELESS | +0.1115% | 1h | 0.2899 | −0.045% | $14.5M | $20.9M | 3x | as long as short |
| Orderly PERP_USELESS_USDClong | +0.1252% | 4h | 0.2900 | long leg | $22K | $1.4M | 10x | |
| Injective USELESS/USDC PERP | +0.5000% | 1h | 0.3093 | +6.652% | $5K | $9K | 5.5x | as long as short |
ApeX Omni USELESSUSDT
edgeX USELESSUSDC
Binance USELESSUSDT
MEXC USELESS_USDT
Extended USELESS-USD
Bitget USELESSUSDT
BingX USELESS-USDT
Bybit USELESSUSDT
BloFin USELESS-USDT
Aster USELESSUSDT
Hyperliquid USELESS
Injective USELESS/USDC PERP