USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.012%

Price spread now: Lighter against Polymarket Perps−0.146%45s7-day average −0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$540.545% of the position

Long on Polymarket Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.118%+$12 on $10k

Price spread, last 7 days+0.198%+$20 · spread now −0.146%, 7d avg −0.058%

Together, before fees+0.316%+ Points / potential airdropLighter: Season 3 · farm board+$32 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.087% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.058%. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps USELESS-USD	0.2745	0.0100	pay 0.0013% / 1h	16m 30s	$39K	$216K	3x
Short	Lighter USELESS	0.2741	0.0096	get 0.0012% / 1h	16m 30s	$1.2M	$1.2M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Polymarket Perps. 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 Polymarket PerpsbpFee LighterbpOrdersPrice spread, now −0.146%Rate

Funding earned: −$0.84
Price spread: −0.146% → −0.058%: −$8.75
Slippage, 4 orders: −$46.46
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$64.05
Costs to cover: 0.545%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 45 min ago; Lighter: live order book, 5 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 Polymarket Perps live order book, 45 min ago	1.60 bp	8.4 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	3.63 bp	8.4 bp −$8	68.2 bp −$682	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 USELESSshort	+0.0096%	1h	0.2741	−0.146%	$1.2M	$1.2M	3x
Pacifica USELESS	+0.0100%	1h	0.2742	−0.124%	$30K	$70K	3x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2739	−0.215%	$6.9M	$8.6M	50x	as long as short
Polymarket Perps USELESS-USDlong	+0.0100%	1h	0.2745	long leg	$39K	$216K	3x
SunX USELESS-USDT	+0.0100%	4h	0.2748	+0.113%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2746	+0.047%	$18K	$511K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2741	−0.138%	$606K	$1.1M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0207%	4h	0.2743	−0.069%	$9.7M	$64.4M	10x	as long as short
ApeX Omni USELESSUSDT	+0.0238%	1h	0.2754	+0.332%	$38K	$695K	25x	as long as short
Aevo USELESS-PERP	+0.0240%	1h	0.2740	−0.169%	$10K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTM	+0.0278%	4h	0.2744	−0.022%	$5.0M	$10.4M	12x	as long as short
Bitget USELESSUSDT	+0.0546%	4h	0.2739	−0.211%	$5.3M	$9.9M	20x	as long as short
edgeX USELESSUSDC	+0.0603%	4h	0.2740	−0.166%	$20K	$196K	10x	as long as short
MEXC USELESS_USDT	+0.0614%	4h	0.2743	−0.055%	$10.9M	$6.0M	50x	as long as short
Extended USELESS-USD	+0.0616%	1h	0.2743	−0.078%	$289K	$1.1M	5x	as long as short
Binance USELESSUSDT	+0.0620%	4h	0.2744	−0.027%	$23.3M	$118.0M	50x	as long as short
Hyperliquid USELESS	+0.0679%	1h	0.2744	−0.027%	$13.4M	$20.9M	3x	as long as short
BingX USELESS-USDT	+0.0934%	4h	0.2744	−0.018%	—	$5.2M	—	as long as short
Bybit USELESSUSDT	+0.0974%	4h	0.2741	−0.142%	$26.4M	$46.5M	13x	as long as short
Variational Omni USELESS	+0.1034%	4h	0.2753	+0.308%	$1.2M	$1.7M	—	as long as short
Aster USELESSUSDT	+0.1043%	4h	0.2740	−0.168%	$577K	$2.2M	10x	as long as short
BloFin USELESS-USDT	+0.1267%	4h	0.2737	−0.273%	$1.2M	$2.0M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1390%	4h	0.2741	−0.146%	$21K	$1.3M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2908	+5.957%	$5K	$9K	5.5x	as long as short