Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.213%

Price spread now: Aster against Lighter+0.083%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$940.943% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+0.551%+$55 on $10k

Price spread, last 7 days−0.062%−$6 · spread now +0.083%, 7d avg +0.033%

Together, before fees+0.488%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board+$49 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Aster is 0.050% dearer against Lighter than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter USELESS	0.2843	0.0096	pay 0.0012% / 1h	8m 22s	$1.3M	$1.3M	3x
Short	Aster USELESSUSDT	0.2846	0.0116	get 0.0058% / 4h	1h 08m	$558K	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now +0.083%Rate

Funding earned: $4.29
Price spread: +0.083% → +0.033%: $5.04
Slippage, 4 orders: −$86.3
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$84.97
Costs to cover: 0.943%
Break-even: 145.6 days

Slippage from Lighter: live order book, 3 min ago; Aster: live order book, 5 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 Lighter live order book, 3 min ago	6.54 bp	15.2 bp −$15	58.4 bp −$584	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	4.95 bp	31.7 bp −$32	154.8 bp −$1,548	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 USELESSlong	+0.0096%	1h	0.2843	long leg	$1.3M	$1.3M	3x
Pacifica USELESS	+0.0100%	1h	0.2844	+0.015%	$30K	$19K	3x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2843	−0.028%	$5.4M	$10.5M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2850	+0.225%	$28K	$266K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2843	−0.025%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2847	+0.116%	$20K	$515K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2853	+0.331%	$654K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0116%	4h	0.2845	+0.067%	$5.2M	$10.6M	12x	as long as short
Aster USELESSUSDTshort	+0.0116%	4h	0.2846	+0.083%	$558K	$2.2M	10x
OKX USELESS-USDT-SWAP	+0.0127%	4h	0.2842	−0.035%	$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	+0.0144%	1h	0.2844	+0.011%	$10K	—	3x	as long as short
Hyperliquid USELESS	+0.0174%	1h	0.2846	+0.102%	$12.4M	$23.4M	3x	as long as short
MEXC USELESS_USDT	+0.0266%	4h	0.2843	0.000%	$11.9M	$6.2M	50x	as long as short
Extended USELESS-USD	+0.0272%	1h	0.2842	−0.050%	$142K	$796K	5x	as long as short
edgeX USELESSUSDC	+0.0275%	4h	0.2825	−0.642%	$21K	$196K	10x	as long as short
Binance USELESSUSDT	+0.0275%	4h	0.2843	−0.004%	$23.6M	$124.4M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0364%	1h	0.2820	−0.819%	$52K	$702K	25x	as long as short
Bybit USELESSUSDT	+0.0516%	4h	0.2842	−0.046%	$26.9M	$49.3M	13x	as long as short
BingX USELESS-USDT	+0.0538%	4h	0.2843	−0.021%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0559%	4h	0.2814	−1.015%	$1.1M	$1.9M	—	as long as short
Gate USELESS_USDT	+0.0698%	4h	0.2838	−0.176%	$7.1M	$8.7M	50x	as long as short
BloFin USELESS-USDT	+0.0774%	4h	0.2848	+0.183%	$1.2M	$2.1M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.0952%	4h	0.2843	−0.011%	$22K	$1.5M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3009	+5.842%	$5K	$11K	5.5x	as long as short