Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0671%/8hpaid last 24h −0.033%

Price spread now: Aster against Hyperliquid−0.020%7-day average −0.110% · you buy dearer than you sell

to open and close $10k−$95fees + slippage, both legs, in and out

costs, in % of the position0.951%what the two incomes have to cover

Long on Hyperliquid Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.352%−$35 on $10k

Price spread, last 3 days (all we have)−0.121%−$12 · spread now −0.020%, 7d avg −0.110%

Together, before fees−0.473%+ Points / potential airdropHyperliquid: Season 2 · Aster: Stage 5 · farm board−$47 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Aster is 0.089% dearer against Hyperliquid than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.110%. Mind the row above: over the last 5 days funding on this pair cost −0.352%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid USELESS	0.2972	0.0367	pay 0.0046% / 1h	38m 35s	$14.4M	$16.9M	3x
Short	Aster USELESSUSDT	0.2971	0.1038	get 0.0519% / 4h	38m 35s	$687K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hyperliquid. 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 HyperliquidbpFee AsterbpOrdersPrice spread, now −0.020%Rate

Funding earned: $140.92
Price spread: −0.020% → −0.110%: $8.94
Slippage, 4 orders: −$78.08
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: $54.78
Costs to cover: 0.951%
Break-even: 4.3 days

Slippage from Hyperliquid: live order book, 14 min ago; Aster: 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 Hyperliquid live order book, 14 min ago	0.17 bp	14.1 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	4.53 bp	17.6 bp −$18	136.4 bp −$1,364	doesn't fit	doesn't fit

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	0.2968	−0.131%	$1.4M	$958K	3x	as long as short
Pacifica USELESS	+0.0100%	1h	0.2966	−0.214%	$33K	$72K	3x	as long as short
OKX USELESS-USDT-SWAP	+0.0100%	4h	0.2977	+0.165%	$10.3M	$62.1M	10x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2972	−0.013%	$7.2M	$6.9M	50x	as long as short
KuCoin USELESSUSDTM	+0.0100%	4h	0.2964	−0.273%	$5.5M	$8.4M	12x	as long as short
ApeX Omni USELESSUSDT	+0.0100%	1h	0.2935	−1.242%	$39K	$686K	25x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2965	−0.229%	$28K	$112K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2970	−0.071%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2958	−0.485%	$20K	$352K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2979	+0.225%	$568K	$1.4M	20x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit USELESSUSDT	+0.0117%	4h	0.2973	+0.034%	$29.1M	$38.3M	13x	as long as short
Bitget USELESSUSDT	+0.0194%	4h	0.2983	+0.373%	$5.6M	$7.5M	20x	as long as short
Aevo USELESS-PERP	+0.0200%	1h	0.2970	−0.079%	$11K	—	3x	as long as short
Variational Omni USELESS	+0.0239%	4h	0.2940	−1.082%	$1.2M	$1.5M	—	as long as short
Hyperliquid USELESSlong	+0.0367%	1h	0.2972	long leg	$14.4M	$16.9M	3x
BloFin USELESS-USDT	+0.0379%	4h	0.2961	−0.367%	$1.2M	$1.9M	12x	as long as short
BingX USELESS-USDT	+0.0442%	4h	0.2981	+0.320%	—	$4.5M	—	as long as short
edgeX USELESSUSDC	+0.0464%	4h	0.2941	−1.044%	$22K	$187K	10x	as long as short
MEXC USELESS_USDT	+0.0470%	4h	0.2973	+0.047%	$20.5M	$5.1M	50x	as long as short
Extended USELESS-USD	+0.0472%	1h	0.2973	+0.053%	$320K	$969K	5x	as long as short
Binance USELESSUSDT	+0.0486%	4h	0.2974	+0.069%	$25.4M	$98.2M	50x	as long as short
Orderly PERP_USELESS_USDC	+0.0921%	4h	0.2965	−0.225%	$23K	$1.4M	10x	as long as short
Aster USELESSUSDTshort	+0.1038%	4h	0.2971	−0.020%	$687K	$2.0M	10x
Injective USELESS/USDC PERP	+0.4654%	1h	0.3125	+5.141%	$5K	$14K	5.5x	as long as short