Spread before costs (cost unknown: a leg has no order-book sample)+8.789%
7d average—if it closes, per $10,000$879funding while held, a day−$153.00
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex USELESSUSDT | 0.2785 | 0.0100 | pay 0.0050% / 4h | 52m 09s | $504K | $1.4M | 20x |
| Short | Injective USELESS/USDC PERP | 0.3030 | −0.5000 | pay 0.0625% / 1h | 52m 09s | $3K | $18K | 5.5x |
Phemex USELESSUSDT
Injective USELESS/USDC PERPPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $878.9
- Funding while held
- −$153
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $713.88
- Spread needed to break even
- 0.120%
Slippage unknown: Phemex: live order book, 2 min ago; Injective: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.5100%
- Per $10,000 a day
- −$153.00
- Average in range /8h
- —
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 | 41.59 bp | 64.8 bp −$65 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 price on every exchange
against the cheapest. Click to use as the short leg.ApeX Omni0.2751cheapestedgeX0.2754+0.107%Variational Omni0.2754+0.123%Gate0.2774+0.847%Pacifica0.2777+0.941%KuCoin0.2778+0.971%HTX0.2779+1.007%BloFin0.2779+1.025%Polymarket Perps0.2780+1.069%Lighter0.2781+1.072%Bybit0.2781+1.091%Extended0.2782+1.111%Bitget0.2782+1.123%Aevo0.2782+1.127%Binance0.2782+1.130%OKX0.2782+1.130%Orderly0.2782+1.134%SunX0.2782+1.138%MEXC0.2783+1.160%BingX0.2783+1.160%
ApeX Omni
Variational Omni
Gate
Pacifica
KuCoin
HTX
BloFin
Polymarket Perps
Lighter
Bybit
Extended
Bitget
Aevo
Binance
OKX
Orderly
SunX
MEXC
BingXPhemex0.2785+1.247%
Hyperliquid0.2786+1.272%Aster0.2787+1.321%
Hyperliquid
AsterInjective0.3030+10.145%
USELESS on 24 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| ApeX Omni USELESSUSDT | −1.231% | +0.0100% | 1h | $41K | $679K | 25x | as long as short |
| edgeX USELESSUSDC | −1.126% | +0.0408% | 4h | $21K | $183K | 10x | as long as short |
| Variational Omni USELESS | −1.110% | +0.0600% | 4h | $1.2M | $1.5M | — | as long as short |
| Gate USELESS_USDT | −0.395% | +0.0100% | 4h | $6.4M | $5.5M | 50x | as long as short |
| Pacifica USELESS | −0.302% | +0.0100% | 1h | $27K | $103K | 3x | as long as short |
| KuCoin USELESSUSDTM | −0.273% | +0.0100% | 4h | $5.0M | $6.5M | 12x | as long as short |
| HTX USELESS-USDT | −0.237% | +0.0100% | 4h | $21K | $301K | 20x | as long as short |
| BloFin USELESS-USDT | −0.219% | +0.0690% | 4h | $1.2M | $1.6M | 12x | as long as short |
| Polymarket Perps USELESS-USD | −0.176% | −0.2418% | 1h | $54K | $167K | 3x | as long as short |
| Lighter USELESS | −0.172% | +0.0096% | 1h | $1.3M | $773K | 3x | as long as short |
Show all 24 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Bybit USELESSUSDT | −0.154% | +0.0459% | 4h | $26.9M | $33.2M | 13x | as long as short |
| Extended USELESS-USD | −0.134% | +0.0432% | 1h | $262K | $915K | 5x | as long as short |
| Bitget USELESSUSDT | −0.122% | +0.0226% | 4h | $5.3M | $6.1M | 20x | as long as short |
| Aevo USELESS-PERP | −0.118% | +0.0184% | 1h | $10K | — | 3x | as long as short |
| Binance USELESSUSDT | −0.115% | +0.0430% | 4h | $23.4M | $82.6M | 50x | as long as short |
| OKX USELESS-USDT-SWAP | −0.115% | +0.0100% | 4h | $9.4M | $51.2M | 10x | as long as short |
| Orderly PERP_USELESS_USDC | −0.111% | +0.1085% | 4h | $18K | $1.4M | 10x | as long as short |
| SunX USELESS-USDT | −0.108% | +0.0100% | 4h | — | $1.3M | 10x | as long as short |
| MEXC USELESS_USDT | −0.086% | +0.0422% | 4h | $16.9M | $4.2M | 50x | as long as short |
| BingX USELESS-USDT | −0.086% | +0.0472% | 4h | — | $3.9M | — | as long as short |
| Phemex USELESSUSDTlong | 0.000% | +0.0100% | 4h | $504K | $1.4M | 20x | |
| Hyperliquid USELESS | +0.025% | +0.0952% | 1h | $12.1M | $13.0M | 3x | as long as short |
| Aster USELESSUSDT | +0.073% | +0.0888% | 4h | $607K | $1.2M | 10x | as long as short |
| Injective USELESS/USDC PERPshort | +8.789% | −0.5000% | 1h | $3K | $18K | 5.5x |