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−$67
spread now+0.022%7d average−0.009%fees + slippage, in and out−$70spread needed0.699%
Long on LighterShort on Bybit
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter USELESS0.27710.0096pay 0.0012% / 1h4m 19s$1.3M$846K3x
ShortBybit USELESSUSDT0.27710.0564get 0.0282% / 4h1h 04m$26.8M$33.0M13x

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
$2.17
Funding while held
$14.04
Slippage, 4 orders
−$58.86
Fee Lighter: 0 bp × 2 orders
$0
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$53.65
Spread needed to break even
0.699%
Slippage from Lighter: live order book, 3 min ago; Bybit: live order book, 1 min ago.

Cost of waiting

funding view
Funding /8h
+0.0468%
Per $10,000 a day
+$14.04
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 Lighter live order book, 3 min ago5.44 bp17.0 bp −$1756.1 bp −$561doesn't fitdoesn't fit
Sell Bybit live order book, 1 min ago1.44 bp18.0 bp −$1844.2 bp −$442doesn't fitdoesn't fit

USELESS price on every exchange

against the cheapest. Click to use as the short leg.
Injective0.2588cheapest
edgeX0.2739+5.859%ApeX Omni0.2753+6.384%Variational Omni0.2762+6.716%HTX0.2767+6.929%OKX0.2769+6.994%Gate0.2770+7.029%KuCoin0.2770+7.056%Extended0.2770+7.059%
Lighter0.2771+7.068%
BingX0.2771+7.087%
Bybit0.2771+7.091%
Polymarket Perps0.2771+7.091%Orderly0.2772+7.110%SunX0.2772+7.118%Pacifica0.2772+7.137%Aevo0.2773+7.145%MEXC0.2773+7.153%Binance0.2773+7.156%Bitget0.2773+7.157%BloFin0.2776+7.269%Phemex0.2777+7.292%Hyperliquid0.2777+7.300%Aster0.2777+7.318%

USELESS on 24 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective USELESS/USDC PERP−6.601%−0.5000%1h$3K$25K5.5xas long as short
edgeX USELESSUSDC−1.129%+0.0424%4h$21K$183K10xas long as short
ApeX Omni USELESSUSDT−0.639%+0.0100%1h$41K$679K25xas long as short
Variational Omni USELESS−0.329%+0.0629%4h$1.2M$1.5M—as long as short
HTX USELESS-USDT−0.130%+0.0100%4h$21K$298K20xas long as short
OKX USELESS-USDT-SWAP−0.069%+0.0100%4h$9.3M$50.8M10xas long as short
Gate USELESS_USDT−0.036%+0.0100%4h$6.4M$5.6M50xas long as short
KuCoin USELESSUSDTM−0.011%+0.0100%4h$5.0M$6.4M12xas long as short
Extended USELESS-USD−0.008%+0.0448%1h$261K$915K5xas long as short
Lighter USELESSlong0.000%+0.0096%1h$1.3M$846K3x
Show all 24 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
BingX USELESS-USDT+0.018%+0.0472%4h—$3.8M—as long as short
Bybit USELESSUSDTshort+0.022%+0.0564%4h$26.8M$33.0M13x
Polymarket Perps USELESS-USD+0.022%+0.0100%1h$54K$174K3xas long as short
Orderly PERP_USELESS_USDC+0.040%+0.1106%4h$18K$1.4M10xas long as short
SunX USELESS-USDT+0.047%+0.0100%4h—$1.3M10xas long as short
Pacifica USELESS+0.065%+0.0100%1h$27K$103K3xas long as short
Aevo USELESS-PERP+0.072%+0.0192%1h$10K—3xas long as short
MEXC USELESS_USDT+0.079%+0.0448%4h$16.7M$4.2M50xas long as short
Binance USELESSUSDT+0.082%+0.0449%4h$23.3M$82.4M50xas long as short
Bitget USELESSUSDT+0.083%+0.0236%4h$5.3M$6.1M20xas long as short
BloFin USELESS-USDT+0.188%+0.0759%4h$1.1M$1.6M12xas long as short
Phemex USELESSUSDT+0.209%+0.0100%4h$503K$1.4M20xas long as short
Hyperliquid USELESS+0.217%+0.0372%1h$12.0M$13.1M3xas long as short
Aster USELESSUSDT+0.233%+0.0902%4h$592K$1.2M10xas long as short