data as of
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Price arb /

USELESS

all USELESS markets
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Spread before costs (cost unknown: a leg has no order-book sample)−0.916%
7d average+0.382%if it closes, per $10,000$92funding while held, a day+$16.95
Long on PacificaShort on Variational Omni
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPacifica USELESS0.27510.0100pay 0.0013% / 1h7m 36s$27K$103K3x
ShortVariational Omni USELESS0.27260.0665get 0.0332% / 4h1h 07m$1.1M$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
−$91.63
Funding while held
$16.95
Slippage, 4 orders
no order book: not counted
Fee Pacifica: 4 bp × 2 orders
−$8
Fee Variational Omni: 0 bp × 2 orders
$0
Net
−$82.68
Spread needed to break even
0.080%
Slippage unknown: Pacifica: live order book, 46 min ago; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0565%
Per $10,000 a day
+$16.95
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 Pacifica live order book, 46 min ago22.68 bp57.5 bp −$58doesn't fitdoesn't fitdoesn't fit
Sell Variational Omni RFQ quote, 3 min ago3.67 bpdoesn't fit40.4 bp −$404doesn't fitdoesn't fit

USELESS price on every exchange

against the cheapest. Click to use as the short leg.
Injective0.2559cheapest
ApeX Omni0.2724+6.469%
Variational Omni0.2726+6.536%
HTX0.2735+6.895%Aevo0.2735+6.906%SunX0.2738+7.000%Orderly0.2738+7.028%BloFin0.2739+7.067%edgeX0.2739+7.071%Phemex0.2742+7.168%KuCoin0.2749+7.438%Gate0.2749+7.461%Lighter0.2750+7.477%
Pacifica0.2751+7.521%
MEXC0.2752+7.551%Extended0.2753+7.597%Aster0.2753+7.622%Hyperliquid0.2754+7.626%Polymarket Perps0.2754+7.661%OKX0.2756+7.700%Bybit0.2757+7.751%Bitget0.2757+7.774%BingX0.2758+7.794%Binance0.2758+7.814%

USELESS on 24 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective USELESS/USDC PERP−6.995%−0.5000%1h$3K$25K5.5xas long as short
ApeX Omni USELESSUSDT−0.979%+0.0100%1h$41K$680K25xas long as short
Variational Omni USELESSshort−0.916%+0.0665%4h$1.1M$1.5M—
HTX USELESS-USDT−0.582%+0.0100%4h$20K$297K20xas long as short
Aevo USELESS-PERP−0.571%+0.0192%1h$10K—3xas long as short
SunX USELESS-USDT−0.484%+0.0100%4h—$1.3M10xas long as short
Orderly PERP_USELESS_USDC−0.459%+0.1110%4h$18K$1.4M10xas long as short
BloFin USELESS-USDT−0.422%+0.0741%4h$1.1M$1.6M12xas long as short
edgeX USELESSUSDC−0.418%+0.0424%4h$21K$183K10xas long as short
Phemex USELESSUSDT−0.328%+0.0100%4h$497K$1.4M20xas long as short
Show all 24 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
KuCoin USELESSUSDTM−0.077%+0.0100%4h$5.0M$6.4M12xas long as short
Gate USELESS_USDT−0.055%+0.0100%4h$6.3M$5.5M50xas long as short
Lighter USELESS−0.041%+0.0096%1h$1.3M$845K3xas long as short
Pacifica USELESSlong0.000%+0.0100%1h$27K$103K3x
MEXC USELESS_USDT+0.028%+0.0442%4h$16.5M$4.2M50xas long as short
Extended USELESS-USD+0.071%+0.0440%1h$258K$915K5xas long as short
Aster USELESSUSDT+0.094%+0.0882%4h$586K$1.2M10xas long as short
Hyperliquid USELESS+0.097%+0.0337%1h$11.8M$13.0M3xas long as short
Polymarket Perps USELESS-USD+0.130%+0.0100%1h$53K$174K3xas long as short
OKX USELESS-USDT-SWAP+0.166%+0.0100%4h$9.3M$50.5M10xas long as short
Bybit USELESSUSDT+0.214%+0.0493%4h$26.6M$32.9M13xas long as short
Bitget USELESSUSDT+0.236%+0.0234%4h$5.3M$6.1M20xas long as short
BingX USELESS-USDT+0.254%+0.0472%4h—$3.8M—as long as short
Binance USELESSUSDT+0.272%+0.0445%4h$23.2M$82.3M50xas long as short