Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0289%/8h= +31.6% APRpaid last 24h +0.013%

Price spread now: Hyperliquid against Aster−0.014%7-day average +0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$780.785% of the position

Long on Aster Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+0.258%+$26 on $10k

Price spread, last 7 days+0.026%+$3 · spread now −0.014%, 7d avg +0.061%

Together, before fees+0.284%+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm board+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.076% cheaper against Aster than usual: you would sell low and buy high (spread −0.014% now, against its 7-day average of +0.061%). If the spread goes back, that is −$8 on $10k: about 21 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster USELESSUSDT	0.2798	0.0100	pay 0.0050% / 4h	1h 44m	$548K	$2.2M	10x
Short	Hyperliquid USELESS	0.2798	0.0389	get 0.0049% / 1h	44m 40s	$12.2M	$23.4M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Aster. 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 AsterbpFee HyperliquidbpOrdersPrice spread, now −0.014%Rate

Funding earned: $60.65
Price spread: −0.014% → +0.061%: −$7.57
Slippage, 4 orders: −$61.5
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$25.42
Costs to cover: 0.785%
Break-even: 9.9 days

Slippage from Aster: live order book, 4 min ago; Hyperliquid: live order book, 8 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 Aster live order book, 4 min ago	9.87 bp	20.7 bp −$21	111.0 bp −$1,110	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 8 min ago	0.73 bp	17.0 bp −$17	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 USELESS	+0.0096%	1h	0.2797	−0.029%	$1.3M	$1.2M	3x	as long as short
Aster USELESSUSDTlong	+0.0100%	4h	0.2798	long leg	$548K	$2.2M	10x
Pacifica USELESS	+0.0100%	1h	0.2795	−0.114%	$30K	$19K	3x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2795	−0.096%	$5.4M	$10.4M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2785	−0.479%	$26K	$258K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2778	−0.733%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2788	−0.354%	$19K	$517K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2792	−0.214%	$646K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0140%	4h	0.2793	−0.164%	$5.1M	$10.6M	12x	as long as short
Aevo USELESS-PERP	+0.0152%	1h	0.2791	−0.249%	$10K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX USELESS-USDT-SWAP	+0.0165%	4h	0.2797	−0.046%	$9.6M	$69.3M	10x	as long as short
edgeX USELESSUSDC	+0.0273%	4h	0.2788	−0.372%	$21K	$197K	10x	as long as short
Extended USELESS-USD	+0.0280%	1h	0.2795	−0.099%	$138K	$890K	5x	as long as short
MEXC USELESS_USDT	+0.0282%	4h	0.2799	+0.018%	$11.4M	$6.1M	50x	as long as short
Binance USELESSUSDT	+0.0285%	4h	0.2798	−0.018%	$23.2M	$123.6M	50x	as long as short
Hyperliquid USELESSshort	+0.0389%	1h	0.2798	−0.014%	$12.2M	$23.4M	3x
Gate USELESS_USDT	+0.0404%	4h	0.2792	−0.236%	$7.0M	$8.6M	50x	as long as short
ApeX Omni USELESSUSDT	+0.0529%	1h	0.2784	−0.504%	$49K	$700K	25x	as long as short
BingX USELESS-USDT	+0.0532%	4h	0.2795	−0.122%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0556%	4h	0.2784	−0.498%	$1.1M	$1.8M	—	as long as short
Bybit USELESSUSDT	+0.0588%	4h	0.2796	−0.086%	$26.2M	$48.7M	13x	as long as short
BloFin USELESS-USDT	+0.0828%	4h	0.2797	−0.046%	$1.2M	$2.1M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1066%	4h	0.2793	−0.168%	$21K	$1.4M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2949	+5.382%	$5K	$11K	5.5x	as long as short