Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0204%/8h= +22.3% APRpaid last 24h +0.028%

Price spread now: KuCoin against Lighter+0.039%7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$137as in the Funding arb table

Net, price: spread back to 7d avg − costs−$148as in the Price arb table

costs, in and out, $10k−$1541.540% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.166%+$17 on $10k

Price spread, last 7 days+0.031%+$3 · spread now +0.039%, 7d avg −0.017%

Together, before fees+0.197%+ Points / potential airdropLighter: Season 3 · farm board+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and KuCoin is 0.056% dearer against Lighter than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter USELESS	0.2851	0.0096	pay 0.0012% / 1h	1m 39s	$1.3M	$1.1M	3x
Short	KuCoin USELESSUSDTM	0.2853	0.0300	get 0.0150% / 4h	2h 01m	$5.3M	$9.7M	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.039%Rate

Funding earned: $42.84
Price spread: +0.039% → −0.017%: $5.58
Slippage, 4 orders: −$142
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$105.58
Costs to cover: 1.540%
Break-even: 24.3 days

Slippage from Lighter: live order book, 5 min ago; KuCoin: live order book, 7 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, 5 min ago	5.44 bp	17.9 bp −$18	57.2 bp −$572	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	8.97 bp	48.5 bp −$49	doesn't fit	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	0.2851	long leg	$1.3M	$1.1M	3x
Pacifica USELESS	+0.0100%	1h	0.2853	+0.042%	$32K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2853	+0.063%	$10.1M	$64.4M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2851	−0.025%	$28K	$140K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2861	+0.344%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2848	−0.116%	$20K	$388K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2847	−0.172%	$574K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0232%	1h	0.2853	+0.060%	$10K	—	3x	as long as short
KuCoin USELESSUSDTMshort	+0.0300%	4h	0.2853	+0.039%	$5.3M	$9.7M	12x
ApeX Omni USELESSUSDT	+0.0327%	1h	0.2850	−0.049%	$41K	$698K	25x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0410%	4h	0.2850	−0.049%	$7.1M	$7.9M	50x	as long as short
Bitget USELESSUSDT	+0.0518%	4h	0.2852	+0.035%	$5.5M	$8.8M	20x	as long as short
edgeX USELESSUSDC	+0.0584%	4h	0.2856	+0.169%	$21K	$191K	10x	as long as short
Extended USELESS-USD	+0.0592%	1h	0.2852	+0.011%	$300K	$968K	5x	as long as short
Binance USELESSUSDT	+0.0594%	4h	0.2852	+0.038%	$24.3M	$110.8M	50x	as long as short
MEXC USELESS_USDT	+0.0602%	4h	0.2853	+0.046%	$10.0M	$5.9M	50x	as long as short
Orderly PERP_USELESS_USDC	+0.1216%	4h	0.2857	+0.200%	$22K	$1.4M	10x	as long as short
Aster USELESSUSDT	+0.1280%	4h	0.2851	−0.025%	$660K	$2.2M	10x	as long as short
BingX USELESS-USDT	+0.1322%	4h	0.2854	+0.105%	—	$4.9M	—	as long as short
Bybit USELESSUSDT	+0.1385%	4h	0.2856	+0.161%	$28.9M	$43.1M	13x	as long as short
Variational Omni USELESS	+0.1388%	4h	0.2853	+0.064%	$1.2M	$1.8M	—	as long as short
Hyperliquid USELESS	+0.1512%	1h	0.2856	+0.151%	$14.6M	$19.8M	3x	as long as short
BloFin USELESS-USDT	+0.1696%	4h	0.2862	+0.386%	$1.2M	$2.0M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3006	+5.436%	$5K	$10K	5.5x	as long as short