Funding arb · Price arb /

USELESS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0729%/8h= +79.8% APRpaid last 24h +0.162%

Price spread now: Variational Omni against Pacifica+0.187%7-day average — · you sell dearer than you buy

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

Long on Pacifica Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Both sides work for this trade now. Funding pays +$22 a day on $10k at the current rate, and Variational Omni is 0.187% dearer against Pacifica than usual: you sell high and buy low: +$19 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica USELESS	0.2818	0.0100	pay 0.0013% / 1h	25m 16s	$31K	$70K	3x
Short	Variational Omni USELESS	0.2823	0.0829	get 0.0414% / 4h	2h 25m	$1.2M	$1.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Pacifica. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.187%Rate

Funding earned: $153.01
Price spread: +0.187% → 0.000%: $18.68
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $163.7
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Pacifica: no order-book sample; Variational Omni: RFQ quote, 4 min ago. 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 Variational Omni RFQ quote, 4 min ago	5.33 bp	doesn't fit	62.2 bp −$622	doesn't fit	doesn't fit

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 23 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	0.2820	+0.095%	$1.3M	$1.2M	3x	as long as short
Pacifica USELESSlong	+0.0100%	1h	0.2818	long leg	$31K	$70K	3x
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2823	+0.198%	$10.0M	$66.6M	10x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2821	+0.113%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2814	−0.128%	$18K	$519K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2817	−0.036%	$606K	$1.2M	20x	as long as short
KuCoin USELESSUSDTM	+0.0116%	4h	0.2819	+0.042%	$5.2M	$10.3M	12x	as long as short
Gate USELESS_USDT	+0.0142%	4h	0.2811	−0.256%	$7.1M	$8.4M	50x	as long as short
Aevo USELESS-PERP	+0.0224%	1h	0.2824	+0.235%	$10K	—	3x	as long as short
edgeX USELESSUSDC	+0.0533%	4h	0.2827	+0.318%	$21K	$194K	10x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps USELESS-USD	+0.0537%	1h	0.2825	+0.269%	$30K	$199K	3x	as long as short
BingX USELESS-USDT	+0.0542%	4h	0.2824	+0.241%	—	$5.1M	—	as long as short
MEXC USELESS_USDT	+0.0556%	4h	0.2823	+0.170%	$11.0M	$6.0M	50x	as long as short
Binance USELESSUSDT	+0.0557%	4h	0.2824	+0.223%	$23.9M	$117.4M	50x	as long as short
Extended USELESS-USD	+0.0560%	1h	0.2823	+0.197%	$302K	$1.2M	5x	as long as short
Bitget USELESSUSDT	+0.0582%	4h	0.2823	+0.177%	$5.4M	$9.9M	20x	as long as short
Bybit USELESSUSDT	+0.0592%	4h	0.2822	+0.141%	$27.4M	$46.4M	13x	as long as short
ApeX Omni USELESSUSDT	+0.0703%	1h	0.2807	−0.380%	$39K	$699K	25x	as long as short
Variational Omni USELESSshort	+0.0829%	4h	0.2823	+0.187%	$1.2M	$1.7M	—
Aster USELESSUSDT	+0.1082%	4h	0.2822	+0.156%	$648K	$2.3M	10x	as long as short
Orderly PERP_USELESS_USDC	+0.1274%	4h	0.2824	+0.226%	$22K	$1.3M	10x	as long as short
Hyperliquid USELESS	+0.1344%	1h	0.2828	+0.372%	$14.1M	$20.9M	3x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2984	+5.894%	$5K	$9K	5.5x	as long as short