Funding you earn now, next payment 22:00 UTC−0.0576%/8h= −63.1% APRnext payment −$0.72 per $10,000 · paid last 24h −0.117%
Price spread now: Lighter against Extended−0.069%7-day average +0.001% · you buy dearer than you sell
Net, funding: paid 7d − costs−$196as in the Funding arb table
Net, price: spread back to 7d avg − costs−$189as in the Price arb table
costs, in and out, $10k−$1821.824% of the position
Funding, last 7 days−0.134%−$13 on $10k
+Price spread, last 4 days (all we have)+0.082%+$8 · spread now −0.069%, 7d avg +0.001%
=Together, before fees−0.051%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Lighter is 0.070% cheaper against Extended than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.001%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.134% in total (about -7.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.72 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 | Extended USELESS-USD | 0.2899 | 0.0672 | pay 0.0084% / 1h | 49m 45s | $305K | $967K | 5x |
| Short | Lighter USELESS | 0.2897 | 0.0096 | get 0.0012% / 1h | 49m 45s | $1.3M | $1.1M | 3x |
Extended USELESS-USD
Lighter USELESSFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Extended. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$120.96
- Price spread: −0.069% → +0.001%
- −$7
- Slippage, 4 orders
- −$177.37
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$310.32
- Costs to cover
- 1.824%
- Break-even
- never at this rate
Slippage from Extended: live order book, 38 min ago; Lighter: live order book, 2 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 Extended live order book, 38 min ago | 53.37 bp | 69.0 bp −$69 | 329.8 bp −$3,298 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 2 min ago | 7.96 bp | 27.1 bp −$27 | 102.8 bp −$1,028 | 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 | 0.2897 | −0.069% | $1.3M | $1.1M | 3x | |
| Pacifica USELESS | +0.0100% | 1h | 0.2900 | +0.027% | $32K | $70K | 3x | as long as short |
| OKX USELESS-USDT-SWAP | +0.0100% | 4h | 0.2896 | −0.090% | $10.3M | $64.8M | 10x | as long as short |
| ApeX Omni USELESSUSDT | +0.0100% | 1h | 0.2894 | −0.173% | $41K | $697K | 25x | as long as short |
| Polymarket Perps USELESS-USD | +0.0100% | 1h | 0.2900 | +0.020% | $28K | $135K | 3x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2900 | +0.045% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2894 | −0.173% | $20K | $376K | 20x | as long as short |
| Phemex USELESSUSDT | +0.0100% | 4h | 0.2895 | −0.138% | $575K | $1.3M | 20x | as long as short |
| KuCoin USELESSUSDTM | +0.0132% | 4h | 0.2898 | −0.045% | $5.4M | $9.6M | 12x | as long as short |
| Gate USELESS_USDT | +0.0208% | 4h | 0.2890 | −0.297% | $7.2M | $7.7M | 50x | as long as short |
Pacifica USELESS
OKX USELESS-USDT-SWAP
ApeX Omni USELESSUSDT
Polymarket Perps USELESS-USD
SunX USELESS-USDT
HTX USELESS-USDT
Phemex USELESSUSDT
KuCoin USELESSUSDTM
Gate USELESS_USDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aevo USELESS-PERP | +0.0240% | 1h | 0.2897 | −0.080% | $10K | — | 3x | as long as short |
| Bitget USELESSUSDT | +0.0566% | 4h | 0.2896 | −0.118% | $5.5M | $8.7M | 20x | as long as short |
| MEXC USELESS_USDT | +0.0660% | 4h | 0.2899 | +0.017% | $21.3M | $5.8M | 50x | as long as short |
| Binance USELESSUSDT | +0.0672% | 4h | 0.2899 | +0.007% | $25.1M | $109.5M | 50x | as long as short |
| Extended USELESS-USDlong | +0.0672% | 1h | 0.2899 | long leg | $305K | $967K | 5x | |
| edgeX USELESSUSDC | +0.0693% | 4h | 0.2894 | −0.181% | $22K | $189K | 10x | as long as short |
| Orderly PERP_USELESS_USDC | +0.1117% | 4h | 0.2899 | +0.007% | $22K | $1.4M | 10x | as long as short |
| Variational Omni USELESS | +0.1192% | 4h | 0.2881 | −0.624% | $1.1M | $1.7M | — | as long as short |
| Aster USELESSUSDT | +0.1321% | 4h | 0.2894 | −0.159% | $668K | $2.2M | 10x | as long as short |
| BingX USELESS-USDT | +0.1394% | 4h | 0.2898 | −0.024% | — | $4.9M | — | as long as short |
| Hyperliquid USELESS | +0.1443% | 1h | 0.2905 | +0.203% | $14.8M | $19.6M | 3x | as long as short |
| Bybit USELESSUSDT | +0.1450% | 4h | 0.2901 | +0.076% | $29.2M | $42.7M | 13x | as long as short |
| BloFin USELESS-USDT | +0.1917% | 4h | 0.2877 | −0.752% | $1.3M | $2.0M | 12x | as long as short |
| Injective USELESS/USDC PERP | +0.5000% | 1h | 0.3054 | +5.353% | $5K | $10K | 5.5x | as long as short |
Aevo USELESS-PERP
Bitget USELESSUSDT
MEXC USELESS_USDT
Binance USELESSUSDT
edgeX USELESSUSDC
Orderly PERP_USELESS_USDC
Variational Omni USELESS
Aster USELESSUSDT
BingX USELESS-USDT
Hyperliquid USELESS
Bybit USELESSUSDT
BloFin USELESS-USDT
Injective USELESS/USDC PERP