Funding you earn now, next payment 22:00 UTC−0.1033%/8h= −113.2% APRpaid last 24h −0.262%
Price spread now: Lighter against Orderly+0.164%7-day average −0.009% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.799%−$80 on $10k
+Price spread, last 3 days (all we have)+0.204%+$20 · spread now +0.164%, 7d avg −0.009%
=Together, before fees−0.596%+ Points / potential airdropLighter: Season 3 · farm board−$60 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.173% dearer against Orderly than usual: you sell high and buy low (spread +0.164% now, against its 7-day average of −0.009%): +$17 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.799% in total) that is about 36 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_USELESS_USDC | 0.2929 | 0.1129 | pay 0.0565% / 4h | 2h 45m | $22K | $1.4M | 10x |
| Short | Lighter USELESS | 0.2934 | 0.0096 | get 0.0012% / 1h | 45m 38s | $1.4M | $1.1M | 3x |
Orderly PERP_USELESS_USDC
Lighter USELESSFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Orderly. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$217
- Price spread: +0.164% → −0.009%
- $17.25
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$205.75
- Costs to cover
- 0.060%
- Break-even
- from the start
Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 6 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 6 min ago | 7.96 bp | 27.1 bp −$27 | 102.8 bp −$1,028 | doesn't fit | doesn't fit |
Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni USELESSUSDT | +0.0032% | 1h | 0.2875 | −1.840% | $41K | $697K | 25x | as long as short |
| Lighter USELESSshort | +0.0096% | 1h | 0.2934 | +0.164% | $1.4M | $1.1M | 3x | |
| Pacifica USELESS | +0.0100% | 1h | 0.2935 | +0.201% | $33K | $70K | 3x | as long as short |
| OKX USELESS-USDT-SWAP | +0.0100% | 4h | 0.2934 | +0.164% | $10.4M | $65.6M | 10x | as long as short |
| Polymarket Perps USELESS-USD | +0.0100% | 1h | 0.2931 | +0.058% | $29K | $135K | 3x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2928 | −0.014% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2926 | −0.109% | $20K | $376K | 20x | as long as short |
| Phemex USELESSUSDT | +0.0100% | 4h | 0.2919 | −0.348% | $579K | $1.3M | 20x | as long as short |
| KuCoin USELESSUSDTM | +0.0164% | 4h | 0.2935 | +0.219% | $5.5M | $9.5M | 12x | as long as short |
| Aevo USELESS-PERP | +0.0240% | 1h | 0.2925 | −0.121% | $10K | — | 3x | as long as short |
ApeX Omni USELESSUSDT
Pacifica USELESS
OKX USELESS-USDT-SWAP
Polymarket Perps USELESS-USD
SunX USELESS-USDT
HTX USELESS-USDT
Phemex USELESSUSDT
KuCoin USELESSUSDTM
Aevo USELESS-PERPShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate USELESS_USDT | +0.0294% | 4h | 0.2932 | +0.109% | $7.3M | $7.7M | 50x | as long as short |
| Bitget USELESSUSDT | +0.0564% | 4h | 0.2935 | +0.201% | $5.6M | $8.7M | 20x | as long as short |
| edgeX USELESSUSDC | +0.0659% | 4h | 0.2901 | −0.968% | $22K | $189K | 10x | as long as short |
| MEXC USELESS_USDT | +0.0684% | 4h | 0.2935 | +0.222% | $10.3M | $5.8M | 50x | as long as short |
| Extended USELESS-USD | +0.0688% | 1h | 0.2935 | +0.222% | $308K | $967K | 5x | as long as short |
| Binance USELESSUSDT | +0.0692% | 4h | 0.2936 | +0.232% | $25.3M | $109.1M | 50x | as long as short |
| Orderly PERP_USELESS_USDClong | +0.1129% | 4h | 0.2929 | long leg | $22K | $1.4M | 10x | |
| Variational Omni USELESS | +0.1192% | 4h | 0.2881 | −1.638% | $1.1M | $1.7M | — | as long as short |
| BingX USELESS-USDT | +0.1312% | 4h | 0.2935 | +0.198% | — | $4.9M | — | as long as short |
| Aster USELESSUSDT | +0.1362% | 4h | 0.2932 | +0.119% | $676K | $2.1M | 10x | as long as short |
| Bybit USELESSUSDT | +0.1446% | 4h | 0.2935 | +0.222% | $29.5M | $42.7M | 13x | as long as short |
| Hyperliquid USELESS | +0.1588% | 1h | 0.2941 | +0.406% | $15.0M | $19.6M | 3x | as long as short |
| BloFin USELESS-USDT | +0.1804% | 4h | 0.2924 | −0.167% | $1.3M | $2.0M | 12x | as long as short |
| Injective USELESS/USDC PERP | +0.5000% | 1h | 0.3092 | +5.562% | $5K | $10K | 5.5x | as long as short |
Gate USELESS_USDT
Bitget USELESSUSDT
edgeX USELESSUSDC
MEXC USELESS_USDT
Extended USELESS-USD
Binance USELESSUSDT
Variational Omni USELESS
BingX USELESS-USDT
Aster USELESSUSDT
Bybit USELESSUSDT
Hyperliquid USELESS
BloFin USELESS-USDT
Injective USELESS/USDC PERP