Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against HTX−0.499%7-day average +0.093% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on HTX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.084%+$8 on $10k

Price spread, last 3 days (all we have)+1.393%+$139 · spread now −0.499%, 7d avg +0.093%

Together, before fees+1.478%+ Points / potential airdropLighter: Season 3 · farm board+$148 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.592% cheaper against HTX than usual: you would sell low and buy high, −$59 on $10k if it goes back to its 7-day average of +0.093%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX USELESS-USDT	0.2966	0.0100	pay 0.0050% / 4h	2h 56m	$20K	$375K	20x
Short	Lighter USELESS	0.2952	0.0096	get 0.0012% / 1h	56m 10s	$1.4M	$1.1M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against HTX. 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 HTXbpFee LighterbpOrdersPrice spread, now −0.499%Rate

Funding earned: −$0.84
Price spread: −0.499% → +0.093%: −$59.21
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$72.05
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 31 min ago; Lighter: live order book, 5 min ago. Net counts fees only.

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 HTX live order book, 31 min ago	32.88 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	6.91 bp	21.8 bp −$22	87.3 bp −$873	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	0.2952	−0.499%	$1.4M	$1.1M	3x
Pacifica USELESS	+0.0100%	1h	0.2977	+0.373%	$33K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2948	−0.637%	$10.5M	$65.8M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2964	−0.088%	$28K	$130K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2964	−0.084%	—	$1.4M	10x	as long as short
HTX USELESS-USDTlong	+0.0100%	4h	0.2966	long leg	$20K	$375K	20x
Phemex USELESSUSDT	+0.0100%	4h	0.2949	−0.587%	$587K	$1.3M	20x	as long as short
KuCoin USELESSUSDTM	+0.0142%	4h	0.2951	−0.526%	$5.4M	$9.5M	12x	as long as short
Aevo USELESS-PERP	+0.0256%	1h	0.2956	−0.344%	$11K	—	3x	as long as short
Gate USELESS_USDT	+0.0336%	4h	0.2953	−0.458%	$7.3M	$7.6M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni USELESSUSDT	+0.0436%	1h	0.2967	+0.020%	$42K	$698K	25x	as long as short
Bitget USELESSUSDT	+0.0582%	4h	0.2948	−0.607%	$5.6M	$8.7M	20x	as long as short
edgeX USELESSUSDC	+0.0696%	4h	0.2971	+0.159%	$22K	$188K	10x	as long as short
Extended USELESS-USD	+0.0696%	1h	0.2959	−0.261%	$312K	$967K	5x	as long as short
MEXC USELESS_USDT	+0.0698%	4h	0.2952	−0.475%	$21.8M	$5.7M	50x	as long as short
Binance USELESSUSDT	+0.0698%	4h	0.2951	−0.524%	$25.7M	$108.4M	50x	as long as short
Orderly PERP_USELESS_USDC	+0.1120%	4h	0.2961	−0.182%	$22K	$1.4M	10x	as long as short
Variational Omni USELESS	+0.1162%	4h	0.2965	−0.063%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1388%	4h	0.2956	−0.347%	$687K	$2.1M	10x	as long as short
BingX USELESS-USDT	+0.1486%	4h	0.2952	−0.499%	—	$4.9M	—	as long as short
Bybit USELESSUSDT	+0.1498%	4h	0.2952	−0.475%	$29.8M	$42.2M	13x	as long as short
Hyperliquid USELESS	+0.1669%	1h	0.2956	−0.361%	$15.1M	$19.7M	3x	as long as short
BloFin USELESS-USDT	+0.2155%	4h	0.2980	+0.458%	$1.3M	$2.1M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3151	+6.233%	$5K	$10K	5.5x	as long as short