Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0651%/8h= +71.3% APRpaid last 24h +0.162%

Price spread now: Variational Omni against Pacifica−1.086%7-day average — · you buy dearer than you sell

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

Long on Pacifica Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Variational Omni is 1.086% cheaper against Pacifica than usual: you would sell low and buy high (spread −1.086% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$109 on $10k: about 5.6 days of funding at the current rate (+$20 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica USELESS	0.2568	0.0100	pay 0.0013% / 1h	31m 58s	$28K	$70K	3x
Short	Variational Omni USELESS	0.2540	0.0751	get 0.0376% / 4h	31m 58s	$1.0M	$1.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Pacifica. 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 PacificabpFee Variational OmnibpOrdersPrice spread, now −1.086%Rate

Funding earned: $136.77
Price spread: −1.086% → 0.000%: −$108.62
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $20.16
Costs to cover: 0.080%
Break-even: 6.0 days

Slippage unknown: Pacifica: no order-book sample; Variational Omni: RFQ quote, 2 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 Pacifica no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 2 min ago	3.91 bp	doesn't fit	97.8 bp −$978	doesn't fit	doesn't fit

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	0.2560	−0.315%	$1.2M	$1.2M	3x	as long as short
Hyperliquid USELESS	+0.0100%	1h	0.2562	−0.249%	$11.4M	$22.8M	3x	as long as short
Pacifica USELESSlong	+0.0100%	1h	0.2568	long leg	$28K	$70K	3x
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2565	−0.132%	$34K	$221K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2563	−0.214%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2557	−0.424%	$17K	$520K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2563	−0.199%	$575K	$1.1M	20x	as long as short
Aevo USELESS-PERP	+0.0200%	1h	0.2560	−0.318%	$9K	—	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0209%	4h	0.2564	−0.152%	$8.9M	$63.1M	10x	as long as short
Gate USELESS_USDT	+0.0210%	4h	0.2559	−0.343%	$6.4M	$8.7M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTM	+0.0240%	4h	0.2560	−0.308%	$4.6M	$10.7M	12x	as long as short
ApeX Omni USELESSUSDT	+0.0285%	1h	0.2553	−0.592%	$33K	$697K	25x	as long as short
Bitget USELESSUSDT	+0.0368%	4h	0.2562	−0.222%	$4.9M	$10.4M	20x	as long as short
edgeX USELESSUSDC	+0.0458%	4h	0.2553	−0.588%	$19K	$196K	10x	as long as short
Extended USELESS-USD	+0.0464%	1h	0.2562	−0.251%	$113K	$1.2M	5x	as long as short
MEXC USELESS_USDT	+0.0464%	4h	0.2563	−0.214%	$10.3M	$6.2M	50x	as long as short
Binance USELESSUSDT	+0.0466%	4h	0.2563	−0.214%	$21.4M	$123.4M	50x	as long as short
Aster USELESSUSDT	+0.0515%	4h	0.2561	−0.263%	$507K	$2.4M	10x	as long as short
Bybit USELESSUSDT	+0.0557%	4h	0.2563	−0.191%	$24.6M	$48.7M	13x	as long as short
BingX USELESS-USDT	+0.0584%	4h	0.2563	−0.206%	—	$5.3M	—	as long as short
Variational Omni USELESSshort	+0.0751%	4h	0.2540	−1.086%	$1.0M	$1.8M	—
BloFin USELESS-USDT	+0.0804%	4h	0.2565	−0.144%	$1.1M	$1.9M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1324%	4h	0.2564	−0.160%	$19K	$1.2M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2704	+5.296%	$5K	$11K	5.5x	as long as short