Funding arb · Price arb /

USELESS

all USELESS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0263%/8h= +28.8% APRpaid last 24h +0.113%

Price spread now: Binance against Lighter+0.034%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$750.747% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.151%+$15 on $10k

Price spread, last 7 days−0.028%−$3 · spread now +0.034%, 7d avg +0.031%

Together, before fees+0.123%+ Points / potential airdropLighter: Season 3 · farm board+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.031%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.151% in total (about 7.9% a year). A funding rate is set anew for every payment. 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	Lighter USELESS	0.2624	0.0096	pay 0.0012% / 1h	49m 54s	$1.2M	$1.2M	3x
Short	Binance USELESSUSDT	0.2625	0.0359	get 0.0180% / 4h	3h 49m	$21.8M	$121.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter. 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 LighterbpFee BinancebpOrdersPrice spread, now +0.034%Rate

Funding earned: $55.24
Price spread: +0.034% → +0.031%: $0.32
Slippage, 4 orders: −$64.72
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$19.16
Costs to cover: 0.747%
Break-even: 9.4 days

Slippage from Lighter: live order book, 6 min ago; Binance: live order book, 8 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 Lighter live order book, 6 min ago	3.63 bp	11.7 bp −$12	61.5 bp −$615	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.38 bp	15.1 bp −$15	58.7 bp −$587	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 USELESSlong	+0.0096%	1h	0.2624	long leg	$1.2M	$1.2M	3x
Pacifica USELESS	+0.0100%	1h	0.2629	+0.170%	$28K	$47K	3x	as long as short
Bybit USELESSUSDT	+0.0100%	4h	0.2623	−0.053%	$24.8M	$48.4M	13x	as long as short
Gate USELESS_USDT	+0.0100%	4h	0.2623	−0.042%	$6.5M	$8.6M	50x	as long as short
Polymarket Perps USELESS-USD	+0.0100%	1h	0.2623	−0.057%	$27K	$229K	3x	as long as short
SunX USELESS-USDT	+0.0100%	4h	0.2623	−0.057%	—	$1.4M	10x	as long as short
HTX USELESS-USDT	+0.0100%	4h	0.2626	+0.088%	$18K	$522K	20x	as long as short
Phemex USELESSUSDT	+0.0100%	4h	0.2626	+0.076%	$600K	$1.1M	20x	as long as short
OKX USELESS-USDT-SWAP	+0.0164%	4h	0.2624	−0.008%	$8.9M	$63.7M	10x	as long as short
Aevo USELESS-PERP	+0.0168%	1h	0.2622	−0.093%	$9K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin USELESSUSDTM	+0.0208%	4h	0.2621	−0.103%	$4.8M	$10.7M	12x	as long as short
Bitget USELESSUSDT	+0.0224%	4h	0.2625	+0.046%	$5.0M	$10.3M	20x	as long as short
Binance USELESSUSDTshort	+0.0359%	4h	0.2625	+0.034%	$21.8M	$121.7M	50x
Extended USELESS-USD	+0.0360%	1h	0.2623	−0.046%	$112K	$1.1M	5x	as long as short
MEXC USELESS_USDT	+0.0364%	4h	0.2626	+0.057%	$10.6M	$6.0M	50x	as long as short
edgeX USELESSUSDC	+0.0369%	4h	0.2634	+0.363%	$20K	$196K	10x	as long as short
BingX USELESS-USDT	+0.0372%	4h	0.2628	+0.149%	—	$5.3M	—	as long as short
Aster USELESSUSDT	+0.0393%	4h	0.2622	−0.063%	$519K	$2.4M	10x	as long as short
BloFin USELESS-USDT	+0.0447%	4h	0.2630	+0.210%	$1.1M	$1.9M	12x	as long as short
Hyperliquid USELESS	+0.0537%	1h	0.2627	+0.103%	$11.5M	$22.6M	3x	as long as short
Variational Omni USELESS	+0.0559%	4h	0.2630	+0.224%	$1.0M	$1.8M	—	as long as short
ApeX Omni USELESSUSDT	+0.0666%	1h	0.2634	+0.377%	$36K	$695K	25x	as long as short
Orderly PERP_USELESS_USDC	+0.1301%	4h	0.2625	+0.046%	$19K	$1.2M	10x	as long as short
Injective USELESS/USDC PERP	+0.5000%	1h	0.2780	+5.941%	$5K	$11K	5.5x	as long as short