data as of
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Price arb /

USELESS

all USELESS markets
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Spread before costs (cost unknown: a leg has no order-book sample)+1.071%
7d average+0.220%if it closes, per $10,000$107funding while held, a day+$11.54
Long on GateShort on Variational Omni
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate USELESS_USDT0.29360.0100pay 0.0050% / 4h3h 33m$6.9M$6.0M50x
ShortVariational Omni USELESS0.29670.0485get 0.0242% / 4h3h 33m$1.3M$1.5M—

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$107.11
Funding while held
$11.54
Slippage, 4 orders
no order book: not counted
Fee Gate: 7.5 bp × 2 orders
−$15
Fee Variational Omni: 0 bp × 2 orders
$0
Net
$103.64
Spread needed to break even
0.150%
Slippage unknown: Gate: live order book, 1 min ago; Variational Omni: RFQ quote, 2 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0385%
Per $10,000 a day
+$11.54
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Gate live order book, 1 min ago2.56 bp34.5 bp −$35doesn't fitdoesn't fitdoesn't fit
Sell Variational Omni RFQ quote, 2 min ago5.09 bpdoesn't fit42.4 bp −$424doesn't fitdoesn't fit

USELESS price on every exchange

against the cheapest. Click to use as the short leg.
Injective0.2770cheapest
HTX0.2928+5.719%Polymarket Perps0.2929+5.759%Orderly0.2933+5.914%Lighter0.2935+5.972%
Gate0.2936+6.008%
Phemex0.2936+6.012%Aevo0.2937+6.028%KuCoin0.2938+6.095%Aster0.2939+6.106%SunX0.2939+6.120%Extended0.2939+6.127%Bitget0.2940+6.138%Pacifica0.2941+6.172%MEXC0.2941+6.196%BingX0.2943+6.264%Hyperliquid0.2944+6.304%Binance0.2944+6.315%BloFin0.2945+6.322%OKX0.2946+6.369%Bybit0.2947+6.391%
Variational Omni0.2967+7.143%
edgeX0.2975+7.420%ApeX Omni0.2988+7.886%

USELESS on 24 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective USELESS/USDC PERP−5.668%−0.5000%1h$3K$18K5.5xas long as short
HTX USELESS-USDT−0.272%+0.0100%4h$22K$318K20xas long as short
Polymarket Perps USELESS-USD−0.235%+0.1060%1h$35K$114K3xas long as short
Orderly PERP_USELESS_USDC−0.089%+0.0995%4h$22K$1.4M10xas long as short
Lighter USELESS−0.034%+0.0096%1h$1.4M$935K3xas long as short
Gate USELESS_USDTlong0.000%+0.0100%4h$6.9M$6.0M50x
Phemex USELESSUSDT+0.003%+0.0792%4h$526K$1.3M20xas long as short
Aevo USELESS-PERP+0.019%+0.0216%1h$11K—3xas long as short
KuCoin USELESSUSDTM+0.082%+0.0100%4h$5.5M$7.1M12xas long as short
Aster USELESSUSDT+0.093%+0.1200%4h$698K$1.4M10xas long as short
Show all 24 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
SunX USELESS-USDT+0.106%+0.0100%4h—$1.3M10xas long as short
Extended USELESS-USD+0.113%+0.0528%1h$277K$915K5xas long as short
Bitget USELESSUSDT+0.123%+0.0224%4h$5.5M$6.8M20xas long as short
Pacifica USELESS+0.155%+0.0100%1h$29K$103K3xas long as short
MEXC USELESS_USDT+0.177%+0.0536%4h$18.6M$4.6M50xas long as short
BingX USELESS-USDT+0.242%+0.1408%4h—$4.1M—as long as short
Hyperliquid USELESS+0.279%+0.1036%1h$13.9M$14.2M3xas long as short
Binance USELESSUSDT+0.290%+0.0528%4h$25.2M$88.3M50xas long as short
BloFin USELESS-USDT+0.296%+0.1303%4h$1.2M$1.7M12xas long as short
OKX USELESS-USDT-SWAP+0.341%+0.0100%4h$10.1M$57.1M10xas long as short
Bybit USELESSUSDT+0.361%+0.0778%4h$29.1M$36.1M13xas long as short
Variational Omni USELESSshort+1.071%+0.0485%4h$1.3M$1.5M—
edgeX USELESSUSDC+1.332%+0.0508%4h$23K$184K10xas long as short
ApeX Omni USELESSUSDT+1.771%+0.0586%1h$39K$690K25xas long as short