USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0456%/8h= +50.0% APRnext payment +$2.28 per $10,000 · paid last 24h +0.044%

Price spread now: Binance against Phemex+0.196%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$211as in the Funding arb table

Net, price: spread back to 7d avg − costs−$196as in the Price arb table

costs, in and out, $10k−$2172.167% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 3 days (all we have)−0.123%−$12 · spread now +0.196%, 7d avg −0.007%

Together, before fees−0.061%−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Binance is 0.202% dearer against Phemex than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of −0.007%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.061% in total (about 3.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.28 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	Phemex USELESSUSDT	0.2808	0.0100	pay 0.0050% / 4h	2h 21m	$605K	$1.2M	20x
Short	Binance USELESSUSDT	0.2814	0.0556	get 0.0278% / 4h	2h 21m	$23.8M	$117.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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 PhemexbpFee BinancebpOrdersPrice spread, now +0.196%Rate

Funding earned: $95.86
Price spread: +0.196% → −0.007%: $20.24
Slippage, 4 orders: −$194.7
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$100.61
Costs to cover: 2.167%
Break-even: 14.3 days

Slippage from Phemex: live order book, 2 min ago; Binance: live order book, 7 min ago.

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 Phemex live order book, 2 min ago	45.08 bp	82.2 bp −$82	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	0.18 bp	19.6 bp −$20	104.9 bp −$1,049	doesn't fit	doesn't fit

USELESS on 23 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	0.2815	+0.249%	$1.3M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2820	+0.437%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2812	+0.139%	$9.9M	$66.2M	10x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2821	+0.463%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2806	−0.082%	$18K	$519K	20x	as long as short
Phemex USELESSUSDTlong	+0.0100%	4h	0.2808	long leg	$605K	$1.2M	20x
Gate USELESS_USDT	+0.0108%	4h	0.2815	+0.256%	$7.1M	$8.4M	50x	as long as short
KuCoin USELESSUSDTM	+0.0130%	4h	0.2818	+0.338%	$5.2M	$10.3M	12x	as long as short
Aevo USELESS-PERP	+0.0216%	1h	0.2818	+0.360%	$10K	—	3x	as long as short
Polymarket Perps USELESS-USD	+0.0516%	1h	0.2819	+0.406%	$29K	$200K	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX USELESSUSDC	+0.0547%	4h	0.2822	+0.505%	$21K	$194K	10x	as long as short
MEXC USELESS_USDT	+0.0552%	4h	0.2816	+0.271%	$11.0M	$6.0M	50x	as long as short
Binance USELESSUSDTshort	+0.0556%	4h	0.2814	+0.196%	$23.8M	$117.2M	50x
Extended USELESS-USD	+0.0560%	1h	0.2817	+0.311%	$302K	$1.1M	5x	as long as short
Bitget USELESSUSDT	+0.0580%	4h	0.2812	+0.125%	$5.4M	$9.8M	20x	as long as short
BingX USELESS-USDT	+0.0606%	4h	0.2816	+0.288%	—	$5.1M	—	as long as short
Bybit USELESSUSDT	+0.0704%	4h	0.2812	+0.128%	$27.3M	$46.4M	13x	as long as short
ApeX Omni USELESSUSDT	+0.0749%	1h	0.2821	+0.459%	$39K	$699K	25x	as long as short
Variational Omni USELESS	+0.0863%	4h	0.2817	+0.316%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1088%	4h	0.2818	+0.356%	$628K	$2.3M	10x	as long as short
Orderly PERP_USELESS_USDC	+0.1283%	4h	0.2818	+0.367%	$22K	$1.3M	10x	as long as short
Hyperliquid USELESS	+0.1365%	1h	0.2815	+0.249%	$14.1M	$20.7M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2984	+6.278%	$5K	$9K	5.5x	as long as short