USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0158%/8h= +17.3% APRnext payment +$0.79 per $10,000 · paid last 24h +0.075%

Price spread now: MEXC against Phemex−0.172%7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs−$161as in the Price arb table

costs, in and out, $10k−$1411.409% of the position

Long on Phemex Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 4 days (all we have)+0.318%+$32 · spread now −0.172%, 7d avg +0.028%

Together, before fees+0.394%+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.200% cheaper against Phemex than usual: you would sell low and buy high (spread −0.172% now, against its 7-day average of +0.028%). If the spread goes back, that is −$20 on $10k: about 4.2 days of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.076% in total) that is about 18 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex USELESSUSDT	0.2842	0.0100	pay 0.0050% / 4h	1h 02m	$651K	$1.2M	20x
Short	MEXC USELESS_USDT	0.2838	0.0258	get 0.0129% / 4h	1h 02m	$11.9M	$6.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.172%Rate

Funding earned: $33.18
Price spread: −0.172% → +0.028%: −$20
Slippage, 4 orders: −$120.91
Fee Phemex: 6 bp × 2 orders: −$12
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$127.72
Costs to cover: 1.409%
Break-even: 33.9 days

Slippage from Phemex: live order book, 1 min ago; MEXC: live order book, 1 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	20.62 bp	55.8 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.70 bp	12.2 bp −$12	44.9 bp −$449	160.9 bp −$16.1K	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	0.2837	−0.176%	$1.3M	$1.3M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2835	−0.260%	$30K	$19K	3x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	0.2836	−0.225%	$5.2M	$10.7M	12x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2838	−0.169%	$5.5M	$10.5M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2834	−0.296%	$28K	$267K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2840	−0.088%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2837	−0.186%	$19K	$515K	20x	as long as short
Phemex USELESSUSDTlong	+0.0100%	4h	0.2842	long leg	$651K	$1.2M	20x
OKX USELESS-USDT-SWAP	+0.0102%	4h	0.2838	−0.151%	$9.8M	$71.0M	10x	as long as short
Aster USELESSUSDT	+0.0124%	4h	0.2836	−0.236%	$555K	$2.2M	10x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo USELESS-PERP	+0.0152%	1h	0.2834	−0.305%	$10K	—	3x	as long as short
Hyperliquid USELESS	+0.0205%	1h	0.2842	−0.028%	$12.4M	$23.4M	3x	as long as short
edgeX USELESSUSDC	+0.0255%	4h	0.2843	+0.010%	$21K	$197K	10x	as long as short
Extended USELESS-USD	+0.0256%	1h	0.2836	−0.223%	$241K	$896K	5x	as long as short
MEXC USELESS_USDTshort	+0.0258%	4h	0.2838	−0.172%	$11.9M	$6.2M	50x
Binance USELESSUSDT	+0.0260%	4h	0.2839	−0.110%	$23.6M	$124.8M	50x	as long as short
Bybit USELESSUSDT	+0.0458%	4h	0.2840	−0.091%	$26.8M	$49.4M	13x	as long as short
BingX USELESS-USDT	+0.0458%	4h	0.2841	−0.042%	—	$5.3M	—	as long as short
ApeX Omni USELESSUSDT	+0.0510%	1h	0.2835	−0.260%	$52K	$702K	25x	as long as short
Variational Omni USELESS	+0.0561%	4h	0.2851	+0.285%	$1.2M	$1.9M	—	as long as short
Gate USELESS_USDT	+0.0620%	4h	0.2835	−0.267%	$7.1M	$8.7M	50x	as long as short
BloFin USELESS-USDT	+0.0706%	4h	0.2840	−0.077%	$1.2M	$2.1M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.0948%	4h	0.2836	−0.215%	$22K	$1.5M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3008	+5.816%	$5K	$11K	5.5x	as long as short