Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0869%/8h= −95.2% APRpaid last 24h −0.298%

Price spread now: Pacifica against Orderly−0.324%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−1.113%−$111 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$26 a day on $10k at the current rate, and Pacifica is 0.324% cheaper against Orderly than usual: you would sell low and buy high (−$32 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_USELESS_USDC	0.2966	0.0969	pay 0.0485% / 4h	3h 51m	$21K	$1.8M	10x
Short	Pacifica USELESS	0.2956	0.0100	get 0.0013% / 1h	51m 50s	$31K	$19K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Orderly. 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 OrderlybpFee PacificabpOrdersPrice spread, now −0.324%Rate

Funding earned: −$182.54
Price spread: −0.324% → 0.000%: −$32.37
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$228.91
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Pacifica: no order-book sample. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Pacifica no order-book sample	—	—	—	—	—

Orderly and Pacifica: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.2963	−0.105%	$1.4M	$1.1M	3x	as long as short
Pacifica USELESSshort	+0.0100%	1h	0.2956	−0.324%	$31K	$19K	3x
Bitget USELESSUSDT	+0.0100%	4h	0.2967	+0.040%	$5.7M	$11.1M	20x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2968	+0.061%	$29K	$284K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2962	−0.125%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2964	−0.051%	$20K	$515K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2965	−0.034%	$679K	$1.3M	20x	as long as short
KuCoin USELESSUSDTM	+0.0104%	4h	0.2961	−0.169%	$5.4M	$10.8M	12x	as long as short
OKX USELESS-USDT-SWAP	+0.0116%	4h	0.2965	−0.013%	$10.5M	$75.9M	10x	as long as short
Aevo USELESS-PERP	+0.0184%	1h	0.2968	+0.064%	$11K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster USELESSUSDT	+0.0330%	4h	0.2964	−0.070%	$583K	$2.2M	10x	as long as short
edgeX USELESSUSDC	+0.0385%	4h	0.2919	−1.569%	$22K	$198K	10x	as long as short
MEXC USELESS_USDT	+0.0406%	4h	0.2964	−0.064%	$13.5M	$6.3M	50x	as long as short
Extended USELESS-USD	+0.0416%	1h	0.2961	−0.171%	$284K	$1.7M	5x	as long as short
Binance USELESSUSDT	+0.0418%	4h	0.2968	+0.064%	$24.8M	$128.8M	50x	as long as short
Gate USELESS_USDT	+0.0604%	4h	0.2960	−0.179%	$7.4M	$8.7M	50x	as long as short
Variational Omni USELESS	+0.0779%	4h	0.2921	−1.493%	$1.2M	$1.9M	—	as long as short
Orderly PERP_USELESS_USDClong	+0.0969%	4h	0.2966	long leg	$21K	$1.8M	10x
Hyperliquid USELESS	+0.1178%	1h	0.2958	−0.256%	$13.0M	$23.8M	3x	as long as short
BingX USELESS-USDT	+0.1184%	4h	0.2968	+0.067%	—	$5.4M	—	as long as short
Bybit USELESSUSDT	+0.1448%	4h	0.2965	−0.020%	$28.8M	$51.6M	13x	as long as short
BloFin USELESS-USDT	+0.1598%	4h	0.2959	−0.229%	$1.2M	$2.3M	12x	as long as short
ApeX Omni USELESSUSDT	+0.1634%	1h	0.2915	−1.710%	$54K	$700K	25x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3105	+4.690%	$5K	$10K	5.5x	as long as short