USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0242%/8h= +26.5% APRnext payment +$1.21 per $10,000 · paid last 24h +0.074%

Price spread now: edgeX against Phemex+0.179%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$273as in the Funding arb table

Net, price: spread back to 7d avg − costs−$265as in the Price arb table

costs, in and out, $10k−$2792.793% of the position

Long on Phemex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 4 days (all we have)−0.042%−$4 · spread now +0.179%, 7d avg +0.036%

Together, before fees+0.022%+ Points / potential airdropedgeX: Active · farm board+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and edgeX is 0.142% dearer against Phemex than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.036%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.064% in total (about 3.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.21 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	0.2620	0.0100	pay 0.0050% / 4h	3h 26m	$602K	$1.1M	20x
Short	edgeX USELESSUSDC	0.2625	0.0342	get 0.0171% / 4h	3h 26m	$20K	$196K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.179%Rate

Funding earned: $50.77
Price spread: +0.179% → +0.036%: $14.24
Slippage, 4 orders: −$258.25
Fee Phemex: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$214.24
Costs to cover: 2.793%
Break-even: 36.5 days

Slippage from Phemex: live order book, 1 min ago; edgeX: live order book, 25 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, 1 min ago	6.86 bp	37.4 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 25 min ago	0.95 bp	44.2 bp −$44	doesn't fit	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	0.2617	−0.122%	$1.2M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2615	−0.179%	$28K	$18K	3x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2619	−0.042%	$25K	$234K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2622	+0.099%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2614	−0.233%	$18K	$520K	20x	as long as short
Phemex USELESSUSDTlong	+0.0100%	4h	0.2620	long leg	$602K	$1.1M	20x
Aevo USELESS-PERP	+0.0168%	1h	0.2622	+0.098%	$9K	—	3x	as long as short
ApeX Omni USELESSUSDT	+0.0169%	1h	0.2619	−0.034%	$36K	$696K	25x	as long as short
Bitget USELESSUSDT	+0.0194%	4h	0.2614	−0.240%	$5.0M	$10.3M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0197%	4h	0.2613	−0.256%	$8.9M	$63.2M	10x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTM	+0.0198%	4h	0.2616	−0.141%	$4.7M	$10.7M	12x	as long as short
Aster USELESSUSDT	+0.0217%	4h	0.2613	−0.274%	$516K	$2.4M	10x	as long as short
Gate USELESS_USDT	+0.0294%	4h	0.2611	−0.328%	$6.5M	$8.6M	50x	as long as short
edgeX USELESSUSDCshort	+0.0342%	4h	0.2625	+0.179%	$20K	$196K	10x
Binance USELESSUSDT	+0.0344%	4h	0.2612	−0.291%	$21.8M	$121.7M	50x	as long as short
MEXC USELESS_USDT	+0.0350%	4h	0.2614	−0.229%	$10.5M	$6.0M	50x	as long as short
Extended USELESS-USD	+0.0352%	1h	0.2611	−0.323%	$112K	$1.1M	5x	as long as short
Hyperliquid USELESS	+0.0409%	1h	0.2618	−0.069%	$11.4M	$22.7M	3x	as long as short
Variational Omni USELESS	+0.0637%	4h	0.2628	+0.322%	$1.0M	$1.8M	—	as long as short
Bybit USELESSUSDT	+0.0836%	4h	0.2612	−0.298%	$24.6M	$48.5M	13x	as long as short
BingX USELESS-USDT	+0.0936%	4h	0.2612	−0.282%	—	$5.3M	—	as long as short
BloFin USELESS-USDT	+0.1231%	4h	0.2621	+0.053%	$1.1M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1302%	4h	0.2623	+0.115%	$19K	$1.2M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2770	+5.744%	$5K	$11K	5.5x	as long as short