Funding you earn now, next payment 08:00 UTC+0.0463%/8h= +50.7% APRnext payment +$2.32 per $10,000 · paid last 24h +0.177%
Price spread now: BloFin against Phemex+0.022%7-day average +0.002% · you sell dearer than you buy
Net, funding: paid 7d − costs−$101as in the Funding arb table
Net, price: spread back to 7d avg − costs−$165as in the Price arb table
costs, in and out, $10k−$1671.669% of the position
Funding, last 7 days+0.657%+$66 on $10k
+Price spread, last 4 days (all we have)−0.092%−$9 · spread now +0.022%, 7d avg +0.002%
=Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and BloFin is 0.020% dearer against Phemex than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.002%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex USELESSUSDT | 0.2676 | 0.0100 | pay 0.0050% / 4h | 2h 27m | $632K | $1.1M | 20x |
| Short | BloFin USELESS-USDT | 0.2677 | 0.0563 | get 0.0282% / 4h | 2h 27m | $1.1M | $2.0M | 12x |
Phemex USELESSUSDT
BloFin USELESS-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Phemex. 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
- $97.29
- Price spread: +0.022% → +0.002%
- $2.02
- Slippage, 4 orders
- −$142.93
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$67.62
- Costs to cover
- 1.669%
- Break-even
- 11.9 days
Slippage from Phemex: live order book, just now; BloFin: live order book, 6 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, just now | 21.30 bp | 55.5 bp −$55 | doesn't fit | doesn't fit | doesn't fit |
| Sell BloFin live order book, 6 min ago | 2.80 bp | 21.2 bp −$21 | 45.3 bp −$453 | doesn't fit | doesn't fit |
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 | 0.2675 | −0.030% | $1.2M | $1.2M | 3x | as long as short |
| Hyperliquid USELESS | +0.0100% | 1h | 0.2675 | −0.030% | $11.6M | $22.9M | 3x | as long as short |
| Aster USELESSUSDT | +0.0100% | 4h | 0.2676 | +0.006% | $524K | $2.2M | 10x | as long as short |
| Pacifica USELESS | +0.0100% | 1h | 0.2679 | +0.111% | $29K | $18K | 3x | as long as short |
| KuCoin USELESSUSDTM | +0.0100% | 4h | 0.2673 | −0.120% | $4.9M | $10.6M | 12x | as long as short |
| Bitget USELESSUSDT | +0.0100% | 4h | 0.2675 | −0.060% | $5.1M | $10.4M | 20x | as long as short |
| Polymarket Perps USELESS-USD | +0.0100% | 1h | 0.2675 | −0.030% | $26K | $249K | 3x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2679 | +0.097% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2677 | +0.045% | $18K | $518K | 20x | as long as short |
| Phemex USELESSUSDTlong | +0.0100% | 4h | 0.2676 | long leg | $632K | $1.1M | 20x |
Lighter USELESS
Hyperliquid USELESS
Aster USELESSUSDT
Pacifica USELESS
KuCoin USELESSUSDTM
Bitget USELESSUSDT
Polymarket Perps USELESS-USD
SunX USELESS-USDT
HTX USELESS-USDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aevo USELESS-PERP | +0.0136% | 1h | 0.2685 | +0.344% | $10K | — | 3x | as long as short |
| OKX USELESS-USDT-SWAP | +0.0150% | 4h | 0.2677 | +0.034% | $9.2M | $65.3M | 10x | as long as short |
| Extended USELESS-USD | +0.0208% | 1h | 0.2675 | −0.026% | $114K | $1.1M | 5x | as long as short |
| Binance USELESSUSDT | +0.0210% | 4h | 0.2678 | +0.077% | $22.3M | $122.1M | 50x | as long as short |
| edgeX USELESSUSDC | +0.0212% | 4h | 0.2688 | +0.459% | $20K | $195K | 10x | as long as short |
| MEXC USELESS_USDT | +0.0214% | 4h | 0.2677 | +0.045% | $10.9M | $6.0M | 50x | as long as short |
| ApeX Omni USELESSUSDT | +0.0300% | 1h | 0.2685 | +0.333% | $47K | $698K | 25x | as long as short |
| Bybit USELESSUSDT | +0.0323% | 4h | 0.2676 | +0.007% | $25.2M | $48.5M | 13x | as long as short |
| BingX USELESS-USDT | +0.0376% | 4h | 0.2675 | −0.030% | — | $5.3M | — | as long as short |
| Variational Omni USELESS | +0.0473% | 4h | 0.2682 | +0.224% | $1.0M | $1.8M | — | as long as short |
| BloFin USELESS-USDTshort | +0.0563% | 4h | 0.2677 | +0.022% | $1.1M | $2.0M | 12x | |
| Gate USELESS_USDT | +0.0740% | 4h | 0.2674 | −0.075% | $6.7M | $8.6M | 50x | as long as short |
| Orderly PERP_USELESS_USDC | +0.1162% | 4h | 0.2676 | +0.011% | $20K | $1.2M | 10x | as long as short |
| Injective USELESS/USDC PERP | +0.5000% | 1h | 0.2826 | +5.609% | $5K | $11K | 5.5x | as long as short |
Aevo USELESS-PERP
OKX USELESS-USDT-SWAP
Extended USELESS-USD
Binance USELESSUSDT
edgeX USELESSUSDC
MEXC USELESS_USDT
ApeX Omni USELESSUSDT
Bybit USELESSUSDT
BingX USELESS-USDT
Variational Omni USELESS
Gate USELESS_USDT
Orderly PERP_USELESS_USDC
Injective USELESS/USDC PERP