data as of
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Price arb /

USELESS

all USELESS markets
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$116
spread now−0.381%7d average−0.085%fees + slippage, in and out−$87spread needed0.868%
Long on HyperliquidShort on Lighter
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHyperliquid USELESS0.29360.1017pay 0.0127% / 1h32m 39s$13.9M$14.2M3x
ShortLighter USELESS0.29250.0096get 0.0012% / 1h32m 39s$1.4M$936K3x

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
−$38.15
Funding while held
−$27.63
Slippage, 4 orders
−$77.79
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Fee Lighter: 0 bp × 2 orders
$0
Net
−$152.57
Spread needed to break even
0.868%
Slippage from Hyperliquid: live order book, 12 min ago; Lighter: live order book, 5 min ago.

Cost of waiting

funding view
Funding /8h
−0.0921%
Per $10,000 a day
−$27.63
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 Hyperliquid live order book, 12 min ago1.20 bp24.8 bp −$25doesn't fitdoesn't fitdoesn't fit
Sell Lighter live order book, 5 min ago2.35 bp14.1 bp −$1474.2 bp −$742doesn't fitdoesn't fit

USELESS price on every exchange

against the cheapest. Click to use as the short leg.
Injective0.2772cheapest
Lighter0.2925+5.531%
Gate0.2925+5.553%KuCoin0.2927+5.614%OKX0.2928+5.625%Pacifica0.2928+5.646%Bybit0.2928+5.650%Bitget0.2928+5.661%MEXC0.2930+5.701%BingX0.2930+5.704%Binance0.2930+5.718%Extended0.2931+5.754%Aster0.2932+5.773%
Hyperliquid0.2936+5.935%
Aevo0.2942+6.148%Phemex0.2943+6.181%HTX0.2943+6.188%Orderly0.2943+6.195%BloFin0.2943+6.195%SunX0.2944+6.238%Polymarket Perps0.2945+6.260%edgeX0.2946+6.292%Variational Omni0.2967+7.066%ApeX Omni0.2988+7.808%

USELESS on 24 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective USELESS/USDC PERP−5.603%−0.5000%1h$3K$18K5.5xas long as short
Lighter USELESSshort−0.381%+0.0096%1h$1.4M$936K3x
Gate USELESS_USDT−0.361%+0.0100%4h$6.8M$6.0M50xas long as short
KuCoin USELESSUSDTM−0.303%+0.0100%4h$5.4M$7.1M12xas long as short
OKX USELESS-USDT-SWAP−0.293%+0.0100%4h$10.1M$56.8M10xas long as short
Pacifica USELESS−0.273%+0.0100%1h$29K$103K3xas long as short
Bybit USELESSUSDT−0.269%+0.0799%4h$28.9M$36.1M13xas long as short
Bitget USELESSUSDT−0.259%+0.0220%4h$5.5M$6.8M20xas long as short
MEXC USELESS_USDT−0.221%+0.0526%4h$18.6M$4.6M50xas long as short
BingX USELESS-USDT−0.218%+0.1408%4h—$4.1M—as long as short
Show all 24 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Binance USELESSUSDT−0.205%+0.0527%4h$25.1M$88.4M50xas long as short
Extended USELESS-USD−0.171%+0.0528%1h$277K$915K5xas long as short
Aster USELESSUSDT−0.153%+0.1204%4h$697K$1.4M10xas long as short
Hyperliquid USELESSlong0.000%+0.1017%1h$13.9M$14.2M3x
Aevo USELESS-PERP+0.201%+0.0216%1h$11K—3xas long as short
Phemex USELESSUSDT+0.232%+0.0659%4h$528K$1.3M20xas long as short
HTX USELESS-USDT+0.238%+0.0100%4h$22K$318K20xas long as short
Orderly PERP_USELESS_USDC+0.245%+0.0996%4h$23K$1.4M10xas long as short
BloFin USELESS-USDT+0.245%+0.1219%4h$1.2M$1.7M12xas long as short
SunX USELESS-USDT+0.286%+0.0100%4h—$1.3M10xas long as short
Polymarket Perps USELESS-USD+0.307%+0.1062%1h$35K$114K3xas long as short
edgeX USELESSUSDC+0.337%+0.0526%4h$22K$185K10xas long as short
Variational Omni USELESS+1.068%+0.0485%4h$1.3M$1.5M—as long as short
ApeX Omni USELESSUSDT+1.768%+0.0586%1h$39K$690K25xas long as short