Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h −0.023%

Price spread now: Lighter against KuCoin+0.092%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$160as in the Funding arb table

Net, price: spread back to 7d avg − costs−$137as in the Price arb table

costs, in and out, $10k−$1441.438% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.161%−$16 on $10k

Price spread, last 7 days−0.147%−$15 · spread now +0.092%, 7d avg +0.024%

Together, before fees−0.308%+ Points / potential airdropLighter: Season 3 · farm board−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.068% dearer against KuCoin than usual: you sell high and buy low (spread +0.092% now, against its 7-day average of +0.024%): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin USELESSUSDTM	0.2833	0.0150	pay 0.0075% / 4h	1h 18m	$5.2M	$10.6M	12x
Short	Lighter USELESS	0.2836	0.0096	get 0.0012% / 1h	18m 18s	$1.3M	$1.3M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.092%Rate

Funding earned: −$11.34
Price spread: +0.092% → +0.024%: $6.76
Slippage, 4 orders: −$131.79
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$148.37
Costs to cover: 1.438%
Break-even: never at this rate

Slippage from KuCoin: live order book, 10 min ago; Lighter: 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 KuCoin live order book, 10 min ago	8.27 bp	45.1 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 8 min ago	10.14 bp	34.1 bp −$34	118.4 bp −$1,184	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	0.2836	+0.092%	$1.3M	$1.3M	3x
Aster USELESSUSDT	+0.0100%	4h	0.2830	−0.100%	$555K	$2.2M	10x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2836	+0.085%	$30K	$19K	3x	as long as short
Bitget USELESSUSDT	+0.0100%	4h	0.2835	+0.049%	$5.4M	$10.4M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2835	+0.046%	$28K	$264K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2834	+0.021%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2826	−0.258%	$19K	$515K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2837	+0.124%	$649K	$1.2M	20x	as long as short
KuCoin USELESSUSDTMlong	+0.0150%	4h	0.2833	long leg	$5.2M	$10.6M	12x
Aevo USELESS-PERP	+0.0152%	1h	0.2838	+0.177%	$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	+0.0159%	4h	0.2835	+0.056%	$9.8M	$70.6M	10x	as long as short
Hyperliquid USELESS	+0.0192%	1h	0.2835	+0.060%	$12.3M	$23.3M	3x	as long as short
MEXC USELESS_USDT	+0.0284%	4h	0.2838	+0.152%	$11.8M	$6.1M	50x	as long as short
edgeX USELESSUSDC	+0.0288%	4h	0.2818	−0.543%	$21K	$197K	10x	as long as short
Binance USELESSUSDT	+0.0288%	4h	0.2836	+0.106%	$23.5M	$124.2M	50x	as long as short
Extended USELESS-USD	+0.0288%	1h	0.2837	+0.116%	$142K	$796K	5x	as long as short
ApeX Omni USELESSUSDT	+0.0458%	1h	0.2819	−0.505%	$52K	$701K	25x	as long as short
BingX USELESS-USDT	+0.0602%	4h	0.2837	+0.127%	—	$5.3M	—	as long as short
Variational Omni USELESS	+0.0621%	4h	0.2823	−0.355%	$1.1M	$1.8M	—	as long as short
Bybit USELESSUSDT	+0.0622%	4h	0.2837	+0.138%	$26.7M	$48.9M	13x	as long as short
BloFin USELESS-USDT	+0.0846%	4h	0.2835	+0.046%	$1.2M	$2.1M	12x	as long as short
Gate USELESS_USDT	+0.0852%	4h	0.2830	−0.116%	$7.0M	$8.7M	50x	as long as short
Orderly PERP_USELESS_USDC	+0.0994%	4h	0.2836	+0.081%	$22K	$1.4M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2999	+5.866%	$5K	$11K	5.5x	as long as short