USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0486%/8h= −53.2% APRnext payment −$0.61 per $10,000 · paid last 24h −0.041%

Price spread now: Lighter against ApeX Omni+0.835%7-day average −0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

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

costs, in and out, $10k−$810.806% of the position

Long on ApeX Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 3 days (all we have)−0.570%−$57 · spread now +0.835%, 7d avg −0.044%

Together, before fees−0.567%+ Points / potential airdropLighter: Season 3 · farm board−$57 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.879% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.835% now, against its 7-day average of −0.044%): +$88 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 6.0 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.004% in total (about 0.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.61 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	ApeX Omni USELESSUSDT	0.2789	0.0582	pay 0.0073% / 1h	55m 00s	$39K	$701K	25x
Short	Lighter USELESS	0.2812	0.0096	get 0.0012% / 1h	55m 00s	$1.3M	$1.1M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against ApeX Omni. 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 ApeX OmnibpFee LighterbpOrdersPrice spread, now +0.835%Rate

Funding earned: −$102.03
Price spread: +0.835% → −0.044%: $87.9
Slippage, 4 orders: −$70.55
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$94.68
Costs to cover: 0.806%
Break-even: from the start

Slippage from ApeX Omni: live order book, 24 min ago; Lighter: 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 ApeX Omni live order book, 24 min ago	9.14 bp	18.7 bp −$19	107.3 bp −$1,073	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	6.15 bp	21.8 bp −$22	109.9 bp −$1,099	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 USELESSshort	+0.0096%	1h	0.2812	+0.835%	$1.3M	$1.1M	3x
Pacifica USELESS	+0.0100%	1h	0.2794	+0.165%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2814	+0.882%	$9.8M	$65.8M	10x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2808	+0.685%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2799	+0.376%	$18K	$492K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2800	+0.394%	$563K	$1.2M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0117%	1h	0.2803	+0.506%	$30K	$152K	3x	as long as short
Aevo USELESS-PERP	+0.0208%	1h	0.2810	+0.746%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0326%	4h	0.2812	+0.821%	$5.2M	$9.9M	12x	as long as short
Gate USELESS_USDT	+0.0384%	4h	0.2808	+0.688%	$7.0M	$8.2M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0438%	4h	0.2813	+0.864%	$5.4M	$9.3M	20x	as long as short
edgeX USELESSUSDC	+0.0519%	4h	0.2791	+0.068%	$21K	$191K	10x	as long as short
MEXC USELESS_USDT	+0.0524%	4h	0.2816	+0.965%	$10.3M	$5.9M	50x	as long as short
Binance USELESSUSDT	+0.0526%	4h	0.2814	+0.911%	$23.7M	$115.2M	50x	as long as short
Extended USELESS-USD	+0.0528%	1h	0.2814	+0.898%	$295K	$966K	5x	as long as short
ApeX Omni USELESSUSDTlong	+0.0582%	1h	0.2789	long leg	$39K	$701K	25x
Aster USELESSUSDT	+0.1140%	4h	0.2808	+0.681%	$646K	$2.2M	10x	as long as short
BingX USELESS-USDT	+0.1194%	4h	0.2815	+0.918%	—	$5.0M	—	as long as short
Bybit USELESSUSDT	+0.1214%	4h	0.2813	+0.857%	$27.9M	$45.3M	13x	as long as short
Orderly PERP_USELESS_USDC	+0.1333%	4h	0.2811	+0.774%	$22K	$1.4M	10x	as long as short
Variational Omni USELESS	+0.1387%	4h	0.2793	+0.157%	$1.2M	$1.7M	—	as long as short
Hyperliquid USELESS	+0.1461%	1h	0.2818	+1.043%	$14.0M	$20.9M	3x	as long as short
BloFin USELESS-USDT	+0.1587%	4h	0.2814	+0.896%	$1.2M	$2.0M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2957	+6.006%	$5K	$9K	5.5x	as long as short