USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0080%/8h= −8.8% APRnext payment −$0.10 per $10,000 · paid last 24h −0.227%

Price spread now: Lighter against Hyperliquid−0.060%7-day average −0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs−$177as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$940.938% of the position

Long on Hyperliquid Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.836%−$84 on $10k

Price spread, last 7 days+0.028%+$3 · spread now −0.060%, 7d avg −0.094%

Together, before fees−0.808%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board−$81 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.034% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.060% now, against its 7-day average of −0.094%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 34 hours. At the pace of the last 7 days (−0.836% in total) that is about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid USELESS	0.2845	0.0176	pay 0.0022% / 1h	8m 46s	$12.4M	$23.4M	3x
Short	Lighter USELESS	0.2843	0.0096	get 0.0012% / 1h	8m 46s	$1.3M	$1.3M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Hyperliquid. 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 HyperliquidbpFee LighterbpOrdersPrice spread, now −0.060%Rate

Funding earned: −$16.78
Price spread: −0.060% → −0.094%: $3.43
Slippage, 4 orders: −$84.84
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$107.19
Costs to cover: 0.938%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 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 Hyperliquid live order book, 4 min ago	0.89 bp	24.1 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 2 min ago	6.54 bp	34.6 bp −$35	114.9 bp −$1,149	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	0.2843	−0.060%	$1.3M	$1.3M	3x
Pacifica USELESS	+0.0100%	1h	0.2844	−0.044%	$30K	$19K	3x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2845	−0.011%	$5.5M	$10.5M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2846	+0.018%	$28K	$266K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2847	+0.074%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2851	+0.214%	$20K	$515K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2853	+0.271%	$654K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0116%	4h	0.2846	+0.018%	$5.2M	$10.6M	12x	as long as short
Aster USELESSUSDT	+0.0116%	4h	0.2849	+0.123%	$558K	$2.2M	10x	as long as short
OKX USELESS-USDT-SWAP	+0.0127%	4h	0.2845	−0.011%	$9.8M	$71.0M	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	0.2847	+0.077%	$10K	—	3x	as long as short
Hyperliquid USELESSlong	+0.0176%	1h	0.2845	long leg	$12.4M	$23.4M	3x
Extended USELESS-USD	+0.0264%	1h	0.2845	0.000%	$142K	$796K	5x	as long as short
MEXC USELESS_USDT	+0.0266%	4h	0.2845	+0.011%	$11.9M	$6.2M	50x	as long as short
edgeX USELESSUSDC	+0.0275%	4h	0.2825	−0.701%	$21K	$196K	10x	as long as short
Binance USELESSUSDT	+0.0275%	4h	0.2845	−0.017%	$23.6M	$124.4M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0364%	1h	0.2820	−0.879%	$52K	$702K	25x	as long as short
Bybit USELESSUSDT	+0.0534%	4h	0.2846	+0.046%	$26.9M	$49.2M	13x	as long as short
BingX USELESS-USDT	+0.0538%	4h	0.2845	+0.011%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0559%	4h	0.2814	−1.075%	$1.1M	$1.9M	—	as long as short
Gate USELESS_USDT	+0.0698%	4h	0.2842	−0.102%	$7.1M	$8.7M	50x	as long as short
BloFin USELESS-USDT	+0.0774%	4h	0.2848	+0.123%	$1.2M	$2.1M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.0954%	4h	0.2845	+0.014%	$22K	$1.5M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3009	+5.779%	$5K	$11K	5.5x	as long as short