Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1238%/8h= −135.6% APRpaid last 24h −0.261%

Price spread now: Pacifica against Orderly−0.139%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.965%−$96 on $10k

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

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$37 a day on $10k at the current rate, and Pacifica is 0.139% cheaper against Orderly than usual: you would sell low and buy high (−$14 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	Orderly PERP_USELESS_USDC	0.2813	0.1338	pay 0.0669% / 4h	35m 29s	$22K	$1.4M	10x
Short	Pacifica USELESS	0.2809	0.0100	get 0.0013% / 1h	35m 29s	$31K	$70K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Orderly. 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 OrderlybpFee PacificabpOrdersPrice spread, now −0.139%Rate

Funding earned: −$260.01
Price spread: −0.139% → 0.000%: −$13.87
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$287.87
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Pacifica: no order-book sample. 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 Pacifica no order-book sample	—	—	—	—	—

Orderly and Pacifica: 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	0.2809	−0.117%	$1.3M	$1.1M	3x	as long as short
Pacifica USELESSshort	+0.0100%	1h	0.2809	−0.139%	$31K	$70K	3x
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2812	−0.021%	$9.8M	$66.2M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2808	−0.174%	$34K	$156K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2813	+0.014%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2810	−0.092%	$19K	$495K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2808	−0.164%	$568K	$1.2M	20x	as long as short
ApeX Omni USELESSUSDT	+0.0194%	1h	0.2804	−0.313%	$39K	$700K	25x	as long as short
Aevo USELESS-PERP	+0.0208%	1h	0.2815	+0.092%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0292%	4h	0.2809	−0.149%	$5.2M	$10.0M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0350%	4h	0.2809	−0.146%	$5.3M	$9.4M	20x	as long as short
Gate USELESS_USDT	+0.0392%	4h	0.2804	−0.299%	$7.0M	$8.3M	50x	as long as short
edgeX USELESSUSDC	+0.0506%	4h	0.2813	+0.002%	$21K	$192K	10x	as long as short
Binance USELESSUSDT	+0.0510%	4h	0.2811	−0.055%	$23.6M	$116.0M	50x	as long as short
Extended USELESS-USD	+0.0512%	1h	0.2810	−0.083%	$297K	$966K	5x	as long as short
MEXC USELESS_USDT	+0.0514%	4h	0.2810	−0.096%	$10.3M	$6.0M	50x	as long as short
BingX USELESS-USDT	+0.1040%	4h	0.2813	−0.004%	—	$5.0M	—	as long as short
Bybit USELESSUSDT	+0.1060%	4h	0.2811	−0.057%	$27.7M	$45.7M	13x	as long as short
Aster USELESSUSDT	+0.1107%	4h	0.2809	−0.122%	$646K	$2.3M	10x	as long as short
Variational Omni USELESS	+0.1218%	4h	0.2814	+0.058%	$1.2M	$1.8M	—	as long as short
Orderly PERP_USELESS_USDClong	+0.1338%	4h	0.2813	long leg	$22K	$1.4M	10x
BloFin USELESS-USDT	+0.1401%	4h	0.2813	+0.021%	$1.2M	$2.0M	12x	as long as short
Hyperliquid USELESS	+0.1503%	1h	0.2815	+0.089%	$14.0M	$21.0M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2995	+6.474%	$5K	$9K	5.5x	as long as short