Funding you earn now, next payment 02:00 UTC−0.0464%/8h= −50.8% APRnext payment −$0.58 per $10,000 · paid last 24h −0.111%
Price spread now: Lighter against Extended−0.038%7-day average −0.002% · you buy dearer than you sell
Net, funding: paid 7d − costs−$222as in the Funding arb table
Net, price: spread back to 7d avg − costs−$210as in the Price arb table
costs, in and out, $10k−$2072.069% of the position
Funding, last 7 days−0.154%−$15 on $10k
+Price spread, last 4 days (all we have)+0.120%+$12 · spread now −0.038%, 7d avg −0.002%
=Together, before fees−0.034%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board−$3 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Lighter is 0.036% cheaper against Extended than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.002%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.154% in total (about -8.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.58 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 | Extended USELESS-USD | 0.2806 | 0.0560 | pay 0.0070% / 1h | 4m 22s | $298K | $1.1M | 5x |
| Short | Lighter USELESS | 0.2805 | 0.0096 | get 0.0012% / 1h | 4m 22s | $1.3M | $1.2M | 3x |
Extended USELESS-USD
Lighter USELESSFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Extended. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$97.44
- Price spread: −0.038% → −0.002%
- −$3.56
- Slippage, 4 orders
- −$201.87
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$307.87
- Costs to cover
- 2.069%
- Break-even
- never at this rate
Slippage from Extended: live order book, 4 min ago; Lighter: live order book, 2 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 Extended live order book, 4 min ago | 69.90 bp | 88.1 bp −$88 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 2 min ago | 4.63 bp | 13.7 bp −$14 | 67.9 bp −$679 | doesn't fit | doesn't fit |
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 USELESSshort | +0.0096% | 1h | 0.2805 | −0.038% | $1.3M | $1.2M | 3x | |
| Pacifica USELESS | +0.0100% | 1h | 0.2807 | +0.019% | $31K | $70K | 3x | as long as short |
| OKX USELESS-USDT-SWAP | +0.0100% | 4h | 0.2804 | −0.077% | $9.9M | $65.8M | 10x | as long as short |
| Gate USELESS_USDT | +0.0100% | 4h | 0.2803 | −0.120% | $7.1M | $8.5M | 50x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2810 | +0.123% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2807 | +0.033% | $18K | $503K | 20x | as long as short |
| Phemex USELESSUSDT | +0.0100% | 4h | 0.2802 | −0.159% | $608K | $1.1M | 20x | as long as short |
| KuCoin USELESSUSDTM | +0.0156% | 4h | 0.2806 | +0.005% | $5.2M | $10.4M | 12x | as long as short |
| Aevo USELESS-PERP | +0.0216% | 1h | 0.2806 | +0.010% | $10K | — | 3x | as long as short |
| Polymarket Perps USELESS-USD | +0.0364% | 1h | 0.2808 | +0.055% | $27K | $204K | 3x | as long as short |
Pacifica USELESS
OKX USELESS-USDT-SWAP
Gate USELESS_USDT
SunX USELESS-USDT
HTX USELESS-USDT
Phemex USELESSUSDT
KuCoin USELESSUSDTM
Aevo USELESS-PERP
Polymarket Perps USELESS-USDShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX USELESSUSDC | +0.0543% | 4h | 0.2811 | +0.158% | $21K | $194K | 10x | as long as short |
| MEXC USELESS_USDT | +0.0552% | 4h | 0.2809 | +0.098% | $11.0M | $6.0M | 50x | as long as short |
| Binance USELESSUSDT | +0.0558% | 4h | 0.2806 | +0.001% | $23.7M | $117.0M | 50x | as long as short |
| Extended USELESS-USDlong | +0.0560% | 1h | 0.2806 | long leg | $298K | $1.1M | 5x | |
| Bitget USELESSUSDT | +0.0572% | 4h | 0.2807 | +0.041% | $5.4M | $9.9M | 20x | as long as short |
| BingX USELESS-USDT | +0.0702% | 4h | 0.2806 | +0.008% | — | $5.1M | — | as long as short |
| ApeX Omni USELESSUSDT | +0.0716% | 1h | 0.2808 | +0.066% | $39K | $698K | 25x | as long as short |
| Bybit USELESSUSDT | +0.0843% | 4h | 0.2807 | +0.012% | $27.3M | $46.3M | 13x | as long as short |
| Variational Omni USELESS | +0.0873% | 4h | 0.2812 | +0.198% | $1.2M | $1.7M | — | as long as short |
| Aster USELESSUSDT | +0.1071% | 4h | 0.2805 | −0.041% | $625K | $2.3M | 10x | as long as short |
| Hyperliquid USELESS | +0.1241% | 1h | 0.2809 | +0.119% | $14.0M | $20.7M | 3x | as long as short |
| Orderly PERP_USELESS_USDC | +0.1311% | 4h | 0.2806 | +0.008% | $22K | $1.3M | 10x | as long as short |
| Injective USELESS/USDC PERP | +0.5000% | 1h | 0.2989 | +6.498% | $5K | $9K | 5.5x | as long as short |
edgeX USELESSUSDC
MEXC USELESS_USDT
Binance USELESSUSDT
Bitget USELESSUSDT
BingX USELESS-USDT
ApeX Omni USELESSUSDT
Bybit USELESSUSDT
Variational Omni USELESS
Aster USELESSUSDT
Hyperliquid USELESS
Orderly PERP_USELESS_USDC
Injective USELESS/USDC PERP