USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0071%/8h= +7.7% APRnext payment +$0.35 per $10,000 · paid last 24h −0.033%

Price spread now: OKX against Phemex+0.437%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$220as in the Funding arb table

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

costs, in and out, $10k−$2082.076% of the position

Long on Phemex Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.126%−$13 on $10k

Price spread, last 4 days (all we have)−0.315%−$31 · spread now +0.437%, 7d avg −0.033%

Together, before fees−0.441%−$44 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and OKX is 0.470% dearer against Phemex than usual: you sell high and buy low: +$47 more if the spread goes back to its 7-day average of −0.033%. Mind the row above: over the last 7 days funding on this pair cost −0.126%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex USELESSUSDT	0.2745	0.0100	pay 0.0050% / 4h	1h 50m	$637K	$1.2M	20x
Short	OKX USELESS-USDT-SWAP	0.2757	0.0171	get 0.0085% / 4h	1h 50m	$9.5M	$68.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.437%Rate

Funding earned: $14.82
Price spread: +0.437% → −0.033%: $47.05
Slippage, 4 orders: −$185.62
Fee Phemex: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$145.75
Costs to cover: 2.076%
Break-even: 75.8 days

Slippage from Phemex: live order book, 2 min ago; OKX: live order book, 3 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	22.69 bp	59.3 bp −$59	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	1.63 bp	23.5 bp −$24	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	0.2755	+0.375%	$1.3M	$1.2M	3x	as long as short
Aster USELESSUSDT	+0.0100%	4h	0.2752	+0.249%	$539K	$2.1M	10x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2753	+0.295%	$29K	$19K	3x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2754	+0.357%	$5.3M	$10.4M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	0.2748	+0.120%	$48K	$701K	25x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2748	+0.128%	$26K	$257K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2751	+0.237%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2744	−0.022%	$19K	$517K	20x	as long as short
Phemex USELESSUSDTlong	+0.0100%	4h	0.2745	long leg	$637K	$1.2M	20x
KuCoin USELESSUSDTM	+0.0108%	4h	0.2749	+0.171%	$5.0M	$10.5M	12x	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	+0.0136%	1h	0.2742	−0.082%	$10K	—	3x	as long as short
OKX USELESS-USDT-SWAPshort	+0.0171%	4h	0.2757	+0.437%	$9.5M	$68.1M	10x
edgeX USELESSUSDC	+0.0212%	4h	0.2753	+0.285%	$21K	$196K	10x	as long as short
MEXC USELESS_USDT	+0.0230%	4h	0.2757	+0.452%	$11.2M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0230%	4h	0.2756	+0.421%	$22.9M	$123.4M	50x	as long as short
Extended USELESS-USD	+0.0232%	1h	0.2756	+0.395%	$136K	$1.1M	5x	as long as short
Hyperliquid USELESS	+0.0255%	1h	0.2756	+0.401%	$11.9M	$23.3M	3x	as long as short
Gate USELESS_USDT	+0.0264%	4h	0.2748	+0.128%	$6.9M	$8.6M	50x	as long as short
BingX USELESS-USDT	+0.0370%	4h	0.2758	+0.503%	—	$5.3M	—	as long as short
Bybit USELESSUSDT	+0.0395%	4h	0.2754	+0.335%	$25.8M	$48.7M	13x	as long as short
Variational Omni USELESS	+0.0445%	4h	0.2750	+0.177%	$1.0M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.0635%	4h	0.2755	+0.368%	$1.2M	$2.1M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1064%	4h	0.2748	+0.135%	$21K	$1.4M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2906	+5.880%	$5K	$11K	5.5x	as long as short