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−$255
spread now−0.277%7d average−0.154%fees + slippage, in and out−$242spread needed2.423%
Long on PhemexShort on Gate
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex USELESSUSDT0.27780.0100pay 0.0050% / 4h1h 50m$496K$1.4M20x
ShortGate USELESS_USDT0.27710.0100get 0.0050% / 4h1h 50m$6.4M$5.2M50x

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
−$27.71
Funding while held
$0
Slippage, 4 orders
−$215.26
Fee Phemex: 6 bp × 2 orders
−$12
Fee Gate: 7.5 bp × 2 orders
−$15
Net
−$269.98
Spread needed to break even
2.423%
Slippage from Phemex: live order book, 4 min ago; Gate: live order book, 4 min ago.

Cost of waiting

funding view
Funding /8h
0.0000%
Per $10,000 a day
+$0.00
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 Phemex live order book, 4 min ago29.63 bp67.3 bp −$67doesn't fitdoesn't fitdoesn't fit
Sell Gate live order book, 4 min ago2.71 bp57.3 bp −$57doesn't fitdoesn't fitdoesn't fit

USELESS price on every exchange

against the cheapest. Click to use as the short leg.
Injective0.2600cheapest
ApeX Omni0.2751+5.816%edgeX0.2759+6.118%Aevo0.2770+6.552%
Gate0.2771+6.570%
Aster0.2771+6.589%Variational Omni0.2772+6.627%Pacifica0.2773+6.670%KuCoin0.2774+6.693%Orderly0.2774+6.708%OKX0.2775+6.743%Polymarket Perps0.2776+6.777%SunX0.2776+6.777%Lighter0.2777+6.797%BloFin0.2777+6.820%Bybit0.2777+6.827%Binance0.2778+6.847%Bitget0.2778+6.851%Hyperliquid0.2778+6.860%
Phemex0.2778+6.866%
BingX0.2780+6.916%MEXC0.2780+6.927%Extended0.2780+6.928%HTX0.2781+6.954%

USELESS on 24 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective USELESS/USDC PERP−6.425%−0.5000%1h$3K$25K5.5xas long as short
ApeX Omni USELESSUSDT−0.983%+0.0012%1h$41K$679K25xas long as short
edgeX USELESSUSDC−0.700%+0.0461%4h$21K$184K10xas long as short
Aevo USELESS-PERP−0.294%+0.0200%1h$10K—3xas long as short
Gate USELESS_USDTshort−0.277%+0.0100%4h$6.4M$5.2M50x
Aster USELESSUSDT−0.259%+0.0868%4h$583K$1.1M10xas long as short
Variational Omni USELESS−0.223%+0.0690%4h$1.2M$1.4M—as long as short
Pacifica USELESS−0.184%+0.0100%1h$27K$103K3xas long as short
KuCoin USELESSUSDTM−0.162%+0.0100%4h$5.0M$6.0M12xas long as short
Orderly PERP_USELESS_USDC−0.148%+0.1122%4h$18K$1.4M10xas long as short
Show all 24 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
OKX USELESS-USDT-SWAP−0.115%+0.0100%4h$9.4M$49.7M10xas long as short
Polymarket Perps USELESS-USD−0.083%+0.0100%1h$54K$201K3xas long as short
SunX USELESS-USDT−0.083%+0.0100%4h—$1.2M10xas long as short
Lighter USELESS−0.065%+0.0096%1h$1.3M$835K3xas long as short
BloFin USELESS-USDT−0.043%+0.0792%4h$1.2M$1.5M12xas long as short
Bybit USELESSUSDT−0.036%+0.0550%4h$27.1M$31.6M13xas long as short
Binance USELESSUSDT−0.018%+0.0479%4h$23.5M$79.9M50xas long as short
Bitget USELESSUSDT−0.014%+0.0190%4h$5.3M$5.8M20xas long as short
Hyperliquid USELESS−0.005%+0.0324%1h$12.1M$12.8M3xas long as short
Phemex USELESSUSDTlong0.000%+0.0100%4h$496K$1.4M20x
BingX USELESS-USDT+0.047%+0.0572%4h—$3.8M—as long as short
MEXC USELESS_USDT+0.058%+0.0458%4h$16.7M$4.1M50xas long as short
Extended USELESS-USD+0.058%+0.0456%1h$261K$915K5xas long as short
HTX USELESS-USDT+0.083%+0.0100%4h$20K$286K20xas long as short