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.

Spread before costs (cost unknown: a leg has no order-book sample)−0.257%
7d average+0.139%if it closes, per $10,000$26funding while held, a day+$15.98
Long on LighterShort on Variational Omni
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter USELESS0.27690.0096pay 0.0012% / 1h1m 07s$1.3M$846K3x
ShortVariational Omni USELESS0.27620.0629get 0.0314% / 4h1h 01m$1.2M$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
−$25.68
Funding while held
$15.98
Slippage, 4 orders
no order book: not counted
Fee Lighter: 0 bp × 2 orders
$0
Fee Variational Omni: 0 bp × 2 orders
$0
Net
−$9.71
Spread needed to break even
0.000%
Slippage unknown: Lighter: live order book, 1 min ago; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0533%
Per $10,000 a day
+$15.98
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, 1 min ago4.51 bp16.2 bp −$1658.3 bp −$583doesn't fitdoesn't fit
Sell Variational Omni RFQ quote, 4 min ago7.24 bpdoesn't fit29.0 bp −$290doesn't fitdoesn't fit

USELESS price on every exchange

against the cheapest. Click to use as the short leg.
Injective0.2602cheapest
Variational Omni0.2762+6.141%
HTX0.2763+6.180%KuCoin0.2764+6.226%Extended0.2764+6.232%Polymarket Perps0.2764+6.242%SunX0.2766+6.307%Orderly0.2767+6.330%Aevo0.2767+6.338%Aster0.2767+6.364%Pacifica0.2768+6.389%OKX0.2768+6.392%
Lighter0.2769+6.415%
BloFin0.2770+6.449%Gate0.2770+6.465%BingX0.2770+6.469%Bybit0.2771+6.515%MEXC0.2772+6.561%ApeX Omni0.2773+6.580%Binance0.2774+6.603%Hyperliquid0.2774+6.611%edgeX0.2774+6.620%Phemex0.2775+6.642%Bitget0.2775+6.649%

USELESS on 24 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective USELESS/USDC PERP−6.028%−0.5000%1h$3K$25K5.5xas long as short
Variational Omni USELESSshort−0.257%+0.0629%4h$1.2M$1.5M—
HTX USELESS-USDT−0.220%+0.0100%4h$21K$299K20xas long as short
KuCoin USELESSUSDTM−0.177%+0.0100%4h$5.0M$6.5M12xas long as short
Extended USELESS-USD−0.172%+0.0448%1h$261K$915K5xas long as short
Polymarket Perps USELESS-USD−0.163%+0.0100%1h$54K$167K3xas long as short
SunX USELESS-USDT−0.101%+0.0100%4h—$1.3M10xas long as short
Orderly PERP_USELESS_USDC−0.079%+0.1099%4h$18K$1.4M10xas long as short
Aevo USELESS-PERP−0.072%+0.0192%1h$10K—3xas long as short
Aster USELESSUSDT−0.047%+0.0911%4h$590K$1.2M10xas long as short
Show all 24 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Pacifica USELESS−0.025%+0.0100%1h$27K$103K3xas long as short
OKX USELESS-USDT-SWAP−0.022%+0.0100%4h$9.3M$50.9M10xas long as short
Lighter USELESSlong0.000%+0.0096%1h$1.3M$846K3x
BloFin USELESS-USDT+0.033%+0.0804%4h$1.1M$1.6M12xas long as short
Gate USELESS_USDT+0.047%+0.0100%4h$6.4M$5.6M50xas long as short
BingX USELESS-USDT+0.051%+0.0536%4h—$3.9M—as long as short
Bybit USELESSUSDT+0.094%+0.0547%4h$26.8M$33.1M13xas long as short
MEXC USELESS_USDT+0.137%+0.0450%4h$16.7M$4.3M50xas long as short
ApeX Omni USELESSUSDT+0.155%+0.0100%1h$42K$678K25xas long as short
Binance USELESSUSDT+0.177%+0.0447%4h$23.4M$82.6M50xas long as short
Hyperliquid USELESS+0.184%+0.0400%1h$12.0M$13.1M3xas long as short
edgeX USELESSUSDC+0.193%+0.0443%4h$21K$183K10xas long as short
Phemex USELESSUSDT+0.213%+0.0100%4h$503K$1.4M20xas long as short
Bitget USELESSUSDT+0.220%+0.0226%4h$5.3M$6.1M20xas long as short