Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1077%/8h= +118.0% APRpaid last 24h +0.261%

Price spread now: Orderly against Pacifica−0.224%7-day average — · you buy dearer than you sell

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

Long on Pacifica Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.965%+$96 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

Funding pays, the price is against you. Orderly is 0.224% cheaper against Pacifica than usual: you would sell low and buy high (spread −0.224% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$22 on $10k: about 17 hours of funding at the current rate (+$32 a day). At the pace of the last 7 days (+0.965% in total) that is about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica USELESS	0.2943	0.0100	pay 0.0013% / 1h	21m 19s	$33K	$70K	3x
Short	Orderly PERP_USELESS_USDC	0.2936	0.1177	get 0.0589% / 4h	2h 21m	$22K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Pacifica. 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 PacificabpFee OrderlybpOrdersPrice spread, now −0.224%Rate

Funding earned: $226.22
Price spread: −0.224% → 0.000%: −$22.43
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: $189.79
Costs to cover: 0.140%
Break-even: 1.1 days

Slippage unknown: Pacifica: no order-book sample; Orderly: 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 Pacifica no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Pacifica and Orderly: 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	0.2943	+0.020%	$1.4M	$1.1M	3x	as long as short
Pacifica USELESSlong	+0.0100%	1h	0.2943	long leg	$33K	$70K	3x
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2934	−0.296%	$10.5M	$65.6M	10x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2942	−0.020%	$29K	$137K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2939	−0.129%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2918	−0.833%	$20K	$379K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2931	−0.415%	$584K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0232%	4h	0.2935	−0.279%	$5.5M	$9.6M	12x	as long as short
Aevo USELESS-PERP	+0.0240%	1h	0.2937	−0.185%	$11K	—	3x	as long as short
ApeX Omni USELESSUSDT	+0.0398%	1h	0.2933	−0.333%	$42K	$699K	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	+0.0432%	4h	0.2933	−0.350%	$7.3M	$7.8M	50x	as long as short
Bitget USELESSUSDT	+0.0540%	4h	0.2933	−0.347%	$5.6M	$8.7M	20x	as long as short
Extended USELESS-USD	+0.0664%	1h	0.2935	−0.250%	$310K	$967K	5x	as long as short
Binance USELESSUSDT	+0.0666%	4h	0.2935	−0.254%	$25.3M	$109.3M	50x	as long as short
edgeX USELESSUSDC	+0.0666%	4h	0.2938	−0.147%	$22K	$190K	10x	as long as short
MEXC USELESS_USDT	+0.0670%	4h	0.2942	−0.044%	$10.4M	$5.8M	50x	as long as short
Orderly PERP_USELESS_USDCshort	+0.1177%	4h	0.2936	−0.224%	$22K	$1.4M	10x
Bybit USELESSUSDT	+0.1262%	4h	0.2936	−0.231%	$29.6M	$42.6M	13x	as long as short
BingX USELESS-USDT	+0.1272%	4h	0.2935	−0.255%	—	$4.9M	—	as long as short
Variational Omni USELESS	+0.1334%	4h	0.2964	+0.707%	$1.2M	$1.6M	—	as long as short
Aster USELESSUSDT	+0.1384%	4h	0.2944	+0.026%	$680K	$2.1M	10x	as long as short
Hyperliquid USELESS	+0.1593%	1h	0.2942	−0.031%	$15.1M	$19.6M	3x	as long as short
BloFin USELESS-USDT	+0.1740%	4h	0.2935	−0.255%	$1.2M	$2.0M	12x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.3119	+5.998%	$5K	$10K	5.5x	as long as short