USELESS

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0496%/8h= +54.3% APRnext payment +$0.62 per $10,000 · paid last 24h +0.117%

Price spread now: Extended against Lighter+0.058%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$191as in the Funding arb table

Net, price: spread back to 7d avg − costs−$199as in the Price arb table

costs, in and out, $10k−$2052.049% of the position

Long on Lighter Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.134%+$13 on $10k

Price spread, last 4 days (all we have)−0.119%−$12 · spread now +0.058%, 7d avg −0.001%

Together, before fees+0.014%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Extended is 0.059% dearer against Lighter than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.001%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.134% in total (about 7.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.62 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter USELESS	0.2856	0.0096	pay 0.0012% / 1h	4m 27s	$1.3M	$1.1M	3x
Short	Extended USELESS-USD	0.2858	0.0592	get 0.0074% / 1h	4m 27s	$299K	$968K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Lighter. 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 LighterbpFee ExtendedbpOrdersPrice spread, now +0.058%Rate

Funding earned: $104.16
Price spread: +0.058% → −0.001%: $5.9
Slippage, 4 orders: −$199.86
Fee Lighter: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$94.8
Costs to cover: 2.049%
Break-even: 13.4 days

Slippage from Lighter: live order book, 2 min ago; Extended: live order book, 19 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 Lighter live order book, 2 min ago	5.44 bp	17.9 bp −$18	57.2 bp −$572	doesn't fit	doesn't fit
Sell Extended live order book, 19 min ago	66.50 bp	85.1 bp −$85	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 USELESSlong	+0.0096%	1h	0.2856	long leg	$1.3M	$1.1M	3x
Pacifica USELESS	+0.0100%	1h	0.2856	+0.011%	$32K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2858	+0.081%	$10.1M	$64.4M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2861	+0.165%	$28K	$140K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2853	−0.116%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2852	−0.158%	$20K	$388K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2837	−0.662%	$570K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0232%	1h	0.2854	−0.071%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0292%	4h	0.2859	+0.088%	$5.3M	$9.7M	12x	as long as short
ApeX Omni USELESSUSDT	+0.0346%	1h	0.2849	−0.249%	$41K	$698K	25x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate USELESS_USDT	+0.0450%	4h	0.2854	−0.084%	$7.1M	$7.9M	50x	as long as short
Bitget USELESSUSDT	+0.0524%	4h	0.2859	+0.109%	$5.5M	$8.8M	20x	as long as short
Extended USELESS-USDshort	+0.0592%	1h	0.2858	+0.058%	$299K	$968K	5x
MEXC USELESS_USDT	+0.0594%	4h	0.2862	+0.196%	$10.0M	$5.9M	50x	as long as short
Binance USELESSUSDT	+0.0603%	4h	0.2860	+0.145%	$24.4M	$110.7M	50x	as long as short
edgeX USELESSUSDC	+0.0608%	4h	0.2849	−0.262%	$21K	$190K	10x	as long as short
BingX USELESS-USDT	+0.1094%	4h	0.2867	+0.364%	—	$4.9M	—	as long as short
Orderly PERP_USELESS_USDC	+0.1205%	4h	0.2855	−0.049%	$22K	$1.4M	10x	as long as short
Aster USELESSUSDT	+0.1283%	4h	0.2860	+0.145%	$663K	$2.2M	10x	as long as short
Variational Omni USELESS	+0.1388%	4h	0.2853	−0.101%	$1.2M	$1.8M	—	as long as short
Bybit USELESSUSDT	+0.1392%	4h	0.2862	+0.207%	$29.0M	$43.1M	13x	as long as short
Hyperliquid USELESS	+0.1523%	1h	0.2865	+0.305%	$14.7M	$19.8M	3x	as long as short
BloFin USELESS-USDT	+0.1621%	4h	0.2851	−0.179%	$1.2M	$1.9M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3006	+5.262%	$5K	$10K	5.5x	as long as short