Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: SunX against Lighter+0.103%7-day average +0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$172as in the Funding arb table

Net, price: spread back to 7d avg − costs−$159as in the Price arb table

costs, in and out, $10k−$1641.640% of the position

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.084%−$8 on $10k

Price spread, last 3 days (all we have)−0.276%−$28 · spread now +0.103%, 7d avg +0.056%

Together, before fees−0.361%+ Points / potential airdropLighter: Season 3 · farm board−$36 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: SunX is 0.047% dearer against Lighter than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter USELESS	0.2819	0.0096	pay 0.0012% / 1h	18m 52s	$1.3M	$1.1M	3x
Short	SunX USELESS-USDT	0.2822	0.0100	get 0.0050% / 4h	18m 52s	—	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.103%Rate

Funding earned: $0.84
Price spread: +0.103% → +0.056%: $4.73
Slippage, 4 orders: −$155.95
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$158.39
Costs to cover: 1.640%
Break-even: 1326.9 days

Slippage from Lighter: live order book, 2 min ago; SunX: live order book, 6 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	5.16 bp	14.7 bp −$15	53.9 bp −$539	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	44.74 bp	64.0 bp −$64	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	0.2819	long leg	$1.3M	$1.1M	3x
Pacifica USELESS	+0.0100%	1h	0.2812	−0.277%	$31K	$70K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2821	+0.053%	$9.9M	$66.7M	10x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	0.2802	−0.614%	$39K	$702K	25x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2819	−0.025%	$37K	$159K	3x	as long as short
SunX USELESS-USDTshort	+0.0100%	4h	0.2822	+0.103%	—	$1.4M	10x
HTX USELESS-USDT	+0.0100%	4h	0.2820	+0.014%	$19K	$497K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2809	−0.372%	$570K	$1.2M	20x	as long as short
Aevo USELESS-PERP	+0.0200%	1h	0.2812	−0.249%	$10K	—	3x	as long as short
KuCoin USELESSUSDTM	+0.0226%	4h	0.2819	−0.007%	$5.2M	$10.0M	12x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget USELESSUSDT	+0.0306%	4h	0.2821	+0.074%	$5.4M	$9.4M	20x	as long as short
Gate USELESS_USDT	+0.0372%	4h	0.2816	−0.131%	$7.0M	$8.3M	50x	as long as short
MEXC USELESS_USDT	+0.0488%	4h	0.2825	+0.199%	$10.4M	$6.0M	50x	as long as short
Extended USELESS-USD	+0.0496%	1h	0.2825	+0.215%	$297K	$966K	5x	as long as short
edgeX USELESSUSDC	+0.0498%	4h	0.2806	−0.487%	$21K	$192K	10x	as long as short
Binance USELESSUSDT	+0.0507%	4h	0.2819	−0.011%	$23.7M	$116.4M	50x	as long as short
BingX USELESS-USDT	+0.0918%	4h	0.2824	+0.170%	—	$5.0M	—	as long as short
Bybit USELESSUSDT	+0.0995%	4h	0.2822	+0.106%	$27.8M	$45.8M	13x	as long as short
Aster USELESSUSDT	+0.1075%	4h	0.2814	−0.174%	$647K	$2.3M	10x	as long as short
Variational Omni USELESS	+0.1107%	4h	0.2807	−0.444%	$1.2M	$1.8M	—	as long as short
BloFin USELESS-USDT	+0.1288%	4h	0.2822	+0.106%	$1.2M	$2.0M	12x	as long as short
Orderly PERP_USELESS_USDC	+0.1326%	4h	0.2822	+0.082%	$22K	$1.4M	10x	as long as short
Hyperliquid USELESS	+0.1606%	1h	0.2825	+0.206%	$14.1M	$21.1M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2977	+5.601%	$5K	$9K	5.5x	as long as short