Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.3949%/8h= −432.4% APRpaid last 24h +0.767%

Price spread now: Aster against Injective−4.858%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$118 a day on $10k at the current rate, and Aster is 4.858% cheaper against Injective than usual: you would sell low and buy high (−$486 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective USELESS/USDC PERP	0.2892	0.5000	pay 0.0625% / 1h	21m 07s	$5K	$9K	5.5x
Short	Aster USELESSUSDT	0.2752	0.1051	get 0.0525% / 4h	1h 21m	$580K	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now −4.858%Rate

Funding earned: −$829.29
Price spread: −4.858% → 0.000%: −$485.81
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: −$1,323.12
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Aster: live order book, 2 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 Injective no order-book sample	—	—	—	—	—
Sell Aster live order book, 2 min ago	4.57 bp	18.6 bp −$19	59.0 bp −$590	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.2751	−4.879%	$1.2M	$1.2M	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2748	−4.972%	$30K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2747	−5.007%	$6.9M	$8.6M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	0.2736	−5.397%	$38K	$695K	25x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2756	−4.716%	$38K	$215K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2757	−4.675%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2755	−4.727%	$18K	$510K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2750	−4.906%	$607K	$1.1M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0205%	4h	0.2753	−4.820%	$9.7M	$64.7M	10x	as long as short
Aevo USELESS-PERP	+0.0232%	1h	0.2756	−4.692%	$10K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTM	+0.0278%	4h	0.2752	−4.834%	$5.1M	$10.4M	12x	as long as short
Bitget USELESSUSDT	+0.0554%	4h	0.2754	−4.782%	$5.3M	$9.9M	20x	as long as short
edgeX USELESSUSDC	+0.0570%	4h	0.2735	−5.425%	$20K	$195K	10x	as long as short
MEXC USELESS_USDT	+0.0604%	4h	0.2754	−4.775%	$10.9M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0606%	4h	0.2754	−4.765%	$23.3M	$118.0M	50x	as long as short
Extended USELESS-USD	+0.0608%	1h	0.2753	−4.799%	$289K	$1.1M	5x	as long as short
Hyperliquid USELESS	+0.0713%	1h	0.2754	−4.761%	$13.5M	$20.9M	3x	as long as short
BingX USELESS-USDT	+0.0890%	4h	0.2752	−4.837%	—	$5.2M	—	as long as short
Variational Omni USELESS	+0.0932%	4h	0.2731	−5.581%	$1.2M	$1.7M	—	as long as short
Bybit USELESSUSDT	+0.1024%	4h	0.2752	−4.827%	$26.6M	$46.5M	13x	as long as short
Aster USELESSUSDTshort	+0.1051%	4h	0.2752	−4.858%	$580K	$2.2M	10x
BloFin USELESS-USDT	+0.1280%	4h	0.2753	−4.792%	$1.2M	$2.0M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1386%	4h	0.2755	−4.730%	$21K	$1.3M	10x	as long as short
Injective USELESS/USDC PERPlong	+0.5000%	1h	0.2892	long leg	$5K	$9K	5.5x