Funding you earn now, next payment 09:00 UTC−0.0866%/8h= −94.8% APRpaid last 24h −0.300%
Price spread now: Lighter against Orderly−0.713%7-day average −0.018% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.948%−$95 on $10k
+Price spread, last 4 days (all we have)+1.573%+$157 · spread now −0.713%, 7d avg −0.018%
=Together, before fees+0.625%+ Points / potential airdropLighter: Season 3 · farm board+$62 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$26 a day on $10k at the current rate, and Lighter is 0.694% cheaper against Orderly than usual: you would sell low and buy high (−$69 if the spread goes back to its 7-day average of −0.018%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_USELESS_USDC | 0.3003 | 0.0962 | pay 0.0481% / 4h | 3h 38m | $22K | $1.9M | 10x |
| Short | Lighter USELESS | 0.2981 | 0.0096 | get 0.0012% / 1h | 38m 15s | $1.4M | $1.1M | 3x |
Orderly PERP_USELESS_USDC
Lighter USELESSFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Orderly. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$181.86
- Price spread: −0.713% → −0.018%
- −$69.44
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$257.31
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 3 min ago. Net counts fees only.
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 Orderly no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 3 min ago | 15.33 bp | 40.5 bp −$41 | 131.5 bp −$1,315 | doesn't fit | doesn't fit |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 USELESSshort | +0.0096% | 1h | 0.2981 | −0.713% | $1.4M | $1.1M | 3x | |
| Pacifica USELESS | +0.0100% | 1h | 0.2994 | −0.303% | $32K | $19K | 3x | as long as short |
| Gate USELESS_USDT | +0.0100% | 4h | 0.2969 | −1.139% | $7.5M | $8.9M | 50x | as long as short |
| KuCoin USELESSUSDTM | +0.0100% | 4h | 0.2994 | −0.276% | $5.5M | $10.9M | 12x | as long as short |
| Bitget USELESSUSDT | +0.0100% | 4h | 0.2981 | −0.726% | $5.7M | $11.3M | 20x | as long as short |
| Polymarket Perps USELESS-USD | +0.0100% | 1h | 0.3003 | +0.013% | $29K | $284K | 3x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.3000 | −0.087% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2978 | −0.836% | $20K | $515K | 20x | as long as short |
| Phemex USELESSUSDT | +0.0100% | 4h | 0.2997 | −0.190% | $688K | $1.3M | 20x | as long as short |
| OKX USELESS-USDT-SWAP | +0.0111% | 4h | 0.2979 | −0.793% | $10.9M | $77.8M | 10x | as long as short |
Pacifica USELESS
Gate USELESS_USDT
KuCoin USELESSUSDTM
Bitget USELESSUSDT
Polymarket Perps USELESS-USD
SunX USELESS-USDT
HTX USELESS-USDT
Phemex USELESSUSDT
OKX USELESS-USDT-SWAPShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aevo USELESS-PERP | +0.0200% | 1h | 0.3001 | −0.053% | $11K | — | 3x | as long as short |
| Aster USELESSUSDT | +0.0339% | 4h | 0.2986 | −0.556% | $626K | $2.3M | 10x | as long as short |
| edgeX USELESSUSDC | +0.0459% | 4h | 0.3007 | +0.138% | $22K | $199K | 10x | as long as short |
| MEXC USELESS_USDT | +0.0472% | 4h | 0.2978 | −0.833% | $14.0M | $6.6M | 50x | as long as short |
| Binance USELESSUSDT | +0.0479% | 4h | 0.2981 | −0.733% | $25.6M | $132.0M | 50x | as long as short |
| Extended USELESS-USD | +0.0480% | 1h | 0.3000 | −0.094% | $285K | $1.7M | 5x | as long as short |
| BingX USELESS-USDT | +0.0616% | 4h | 0.2981 | −0.713% | — | $5.5M | — | as long as short |
| Variational Omni USELESS | +0.0820% | 4h | 0.3004 | +0.045% | $1.3M | $1.9M | — | as long as short |
| Bybit USELESSUSDT | +0.0898% | 4h | 0.2976 | −0.879% | $29.5M | $53.0M | 13x | as long as short |
| Orderly PERP_USELESS_USDClong | +0.0962% | 4h | 0.3003 | long leg | $22K | $1.9M | 10x | |
| Hyperliquid USELESS | +0.1069% | 1h | 0.2983 | −0.646% | $13.4M | $24.2M | 3x | as long as short |
| ApeX Omni USELESSUSDT | +0.1365% | 1h | 0.3001 | −0.060% | $56K | $699K | 25x | as long as short |
| BloFin USELESS-USDT | +0.1392% | 4h | 0.3001 | −0.047% | $1.3M | $2.3M | 12x | as long as short |
| Injective USELESS/USDC PERP | +0.5000% | 1h | 0.3178 | +5.835% | $5K | $11K | 5.5x | as long as short |
Aevo USELESS-PERP
Aster USELESSUSDT
edgeX USELESSUSDC
MEXC USELESS_USDT
Binance USELESSUSDT
Extended USELESS-USD
BingX USELESS-USDT
Variational Omni USELESS
Bybit USELESSUSDT
Hyperliquid USELESS
ApeX Omni USELESSUSDT
BloFin USELESS-USDT
Injective USELESS/USDC PERP