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−$178
spread now−0.102%7d average−0.075%fees + slippage, in and out−$175spread needed1.753%
Long on PhemexShort on Lighter
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex USELESSUSDT0.28410.0100pay 0.0050% / 4h3h 13m$509K$1.3M20x
ShortLighter USELESS0.28380.0096get 0.0012% / 1h13m 38s$1.3M$1.0M3x

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
−$10.21
Funding while held
−$0.12
Slippage, 4 orders
−$163.34
Fee Phemex: 6 bp × 2 orders
−$12
Fee Lighter: 0 bp × 2 orders
$0
Net
−$185.66
Spread needed to break even
1.753%
Slippage from Phemex: live order book, 1 min ago; Lighter: live order book, 4 min ago.

Cost of waiting

funding view
Funding /8h
−0.0004%
Per $10,000 a day
−$0.12
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, 1 min ago23.03 bp68.0 bp −$68doesn't fitdoesn't fitdoesn't fit
Sell Lighter live order book, 4 min ago1.76 bp19.7 bp −$2075.2 bp −$752doesn't fitdoesn't fit

USELESS price on every exchange

against the cheapest. Click to use as the short leg.
Injective0.2670cheapest
HTX0.2828+5.944%OKX0.2834+6.158%Gate0.2834+6.158%Variational Omni0.2835+6.173%KuCoin0.2836+6.229%Binance0.2836+6.240%BingX0.2837+6.252%Bitget0.2837+6.274%
Lighter0.2838+6.300%
MEXC0.2838+6.300%Bybit0.2838+6.312%Extended0.2838+6.319%Pacifica0.2840+6.374%
Phemex0.2841+6.409%
Polymarket Perps0.2842+6.435%Aster0.2842+6.435%Hyperliquid0.2843+6.484%SunX0.2843+6.499%Aevo0.2844+6.525%edgeX0.2844+6.528%ApeX Omni0.2844+6.529%Orderly0.2844+6.529%BloFin0.2848+6.667%

USELESS on 24 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective USELESS/USDC PERP−6.023%−0.5000%1h$3K$18K5.5xas long as short
HTX USELESS-USDT−0.436%+0.0100%4h$21K$323K20xas long as short
OKX USELESS-USDT-SWAP−0.236%+0.0100%4h$9.6M$55.8M10xas long as short
Gate USELESS_USDT−0.236%+0.0100%4h$6.6M$6.2M50xas long as short
Variational Omni USELESS−0.222%+0.0472%4h$1.2M$1.5M—as long as short
KuCoin USELESSUSDTM−0.169%+0.0100%4h$5.1M$7.3M12xas long as short
Binance USELESSUSDT−0.158%+0.0460%4h$24.0M$89.8M50xas long as short
BingX USELESS-USDT−0.148%+0.0504%4h—$4.2M—as long as short
Bitget USELESSUSDT−0.127%+0.0152%4h$5.3M$6.8M20xas long as short
Lighter USELESSshort−0.102%+0.0096%1h$1.3M$1.0M3x
Show all 24 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
MEXC USELESS_USDT−0.102%+0.0458%4h$18.0M$4.7M50xas long as short
Bybit USELESSUSDT−0.092%+0.0401%4h$27.9M$36.6M13xas long as short
Extended USELESS-USD−0.085%+0.0456%1h$265K$912K5xas long as short
Pacifica USELESS−0.032%+0.0100%1h$28K$93K3xas long as short
Phemex USELESSUSDTlong0.000%+0.0100%4h$509K$1.3M20x
Polymarket Perps USELESS-USD+0.025%+0.0769%1h$32K$106K3xas long as short
Aster USELESSUSDT+0.025%+0.1047%4h$656K$1.5M10xas long as short
Hyperliquid USELESS+0.070%+0.1009%1h$13.4M$14.4M3xas long as short
SunX USELESS-USDT+0.084%+0.0100%4h—$1.3M10xas long as short
Aevo USELESS-PERP+0.109%+0.0200%1h$10K—3xas long as short
edgeX USELESSUSDC+0.112%+0.0451%4h$22K$185K10xas long as short
ApeX Omni USELESSUSDT+0.113%+0.0100%1h$34K$691K25xas long as short
Orderly PERP_USELESS_USDC+0.113%+0.0960%4h$22K$1.4M10xas long as short
BloFin USELESS-USDT+0.243%+0.0798%4h$1.2M$1.7M12xas long as short