Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1390%/8h= +152.2% APRpaid last 24h +0.141%

Price spread now: BingX against Lighter+0.014%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$850.853% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.176%+$18 on $10k

Price spread, last 7 days−0.036%−$4 · spread now +0.014%, 7d avg +0.010%

Together, before fees+0.140%+ Points / potential airdropLighter: Season 3 · farm board+$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.010%, so right now this pair is about funding alone: +$42 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.176% in total (about 9.2% a year). A funding rate is set anew for every payment. 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	Lighter USELESS	0.2943	0.0096	pay 0.0012% / 1h	55m 24s	$1.4M	$1.1M	3x
Short	BingX USELESS-USDT	0.2943	0.1486	get 0.0743% / 4h	2h 55m	—	$4.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.014%Rate

Funding earned: $291.9
Price spread: +0.014% → +0.010%: $0.39
Slippage, 4 orders: −$75.31
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: $206.98
Costs to cover: 0.853%
Break-even: 2.0 days

Slippage from Lighter: live order book, 1 min ago; BingX: live order book, 10 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, 1 min ago	7.46 bp	25.5 bp −$26	61.8 bp −$618	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	2.87 bp	18.9 bp −$19	67.8 bp −$678	383.0 bp −$38.3K	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	0.2943	long leg	$1.4M	$1.1M	3x
Pacifica USELESS	+0.0100%	1h	0.2942	−0.010%	$33K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2943	+0.020%	$10.5M	$65.7M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2948	+0.190%	$28K	$130K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2964	+0.724%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2966	+0.809%	$20K	$375K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2949	+0.217%	$587K	$1.3M	20x	as long as short
KuCoin USELESSUSDTM	+0.0140%	4h	0.2941	−0.058%	$5.4M	$9.5M	12x	as long as short
Aevo USELESS-PERP	+0.0256%	1h	0.2949	+0.212%	$11K	—	3x	as long as short
Gate USELESS_USDT	+0.0292%	4h	0.2939	−0.112%	$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	+0.0328%	1h	0.2971	+0.965%	$42K	$698K	25x	as long as short
Bitget USELESSUSDT	+0.0576%	4h	0.2945	+0.095%	$5.6M	$8.7M	20x	as long as short
edgeX USELESSUSDC	+0.0690%	4h	0.2980	+1.287%	$22K	$188K	10x	as long as short
Binance USELESSUSDT	+0.0693%	4h	0.2944	+0.031%	$25.6M	$108.4M	50x	as long as short
Extended USELESS-USD	+0.0696%	1h	0.2941	−0.059%	$310K	$967K	5x	as long as short
MEXC USELESS_USDT	+0.0698%	4h	0.2946	+0.112%	$21.8M	$5.7M	50x	as long as short
Orderly PERP_USELESS_USDC	+0.1116%	4h	0.2946	+0.126%	$22K	$1.4M	10x	as long as short
Variational Omni USELESS	+0.1195%	4h	0.2985	+1.454%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1377%	4h	0.2944	+0.060%	$684K	$2.1M	10x	as long as short
BingX USELESS-USDTshort	+0.1486%	4h	0.2943	+0.014%	—	$4.9M	—
Bybit USELESSUSDT	+0.1495%	4h	0.2945	+0.095%	$29.7M	$42.3M	13x	as long as short
Hyperliquid USELESS	+0.1666%	1h	0.2952	+0.306%	$15.1M	$19.7M	3x	as long as short
BloFin USELESS-USDT	+0.2155%	4h	0.2980	+1.271%	$1.3M	$2.1M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3151	+7.092%	$5K	$10K	5.5x	as long as short