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)−0.073%
7d average−0.371%if it closes, per $10,000$7funding while held, a day−$5.42
Long on Variational OmniShort on Extended
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni USELESS0.27620.0629pay 0.0314% / 4h1h 05m$1.2M$1.5M—
ShortExtended USELESS-USD0.27600.0448get 0.0056% / 1h5m 41s$259K$915K5x

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
−$7.26
Funding while held
−$5.42
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee Extended: 2.5 bp × 2 orders
−$5
Net
−$17.68
Spread needed to break even
0.050%
Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Extended: live order book, 49 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
−0.0181%
Per $10,000 a day
−$5.42
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 Variational Omni RFQ quote, 5 min ago3.67 bpdoesn't fit36.7 bp −$367doesn't fitdoesn't fit
Sell Extended live order book, 49 min ago67.30 bp86.0 bp −$86doesn't fitdoesn'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%edgeX0.2739+7.071%HTX0.2753+7.606%Pacifica0.2755+7.673%OKX0.2756+7.719%Binance0.2757+7.769%Bitget0.2758+7.809%Polymarket Perps0.2758+7.809%Gate0.2759+7.825%Bybit0.2759+7.833%
Extended0.2760+7.859%
KuCoin0.2760+7.860%BingX0.2760+7.876%Hyperliquid0.2761+7.895%Phemex0.2761+7.907%MEXC0.2761+7.911%BloFin0.2761+7.930%
Variational Omni0.2762+7.938%
Lighter0.2762+7.958%Aster0.2764+8.016%Aevo0.2764+8.018%SunX0.2764+8.020%Orderly0.2764+8.028%

USELESS on 24 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective USELESS/USDC PERP−7.354%−0.5000%1h$3K$25K5.5xas long as short
ApeX Omni USELESSUSDT−1.361%+0.0100%1h$41K$680K25xas long as short
edgeX USELESSUSDC−0.803%+0.0424%4h$21K$183K10xas long as short
HTX USELESS-USDT−0.307%+0.0100%4h$21K$298K20xas long as short
Pacifica USELESS−0.245%+0.0100%1h$27K$103K3xas long as short
OKX USELESS-USDT-SWAP−0.202%+0.0100%4h$9.3M$50.5M10xas long as short
Binance USELESSUSDT−0.157%+0.0449%4h$23.2M$82.3M50xas long as short
Bitget USELESSUSDT−0.119%+0.0234%4h$5.3M$6.1M20xas long as short
Polymarket Perps USELESS-USD−0.119%+0.0100%1h$54K$174K3xas long as short
Gate USELESS_USDT−0.105%+0.0100%4h$6.4M$5.5M50xas long as short
Show all 24 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Bybit USELESSUSDT−0.097%+0.0519%4h$26.7M$33.0M13xas long as short
Extended USELESS-USDshort−0.073%+0.0448%1h$259K$915K5x
KuCoin USELESSUSDTM−0.072%+0.0100%4h$5.0M$6.4M12xas long as short
BingX USELESS-USDT−0.058%+0.0472%4h—$3.8M—as long as short
Hyperliquid USELESS−0.039%+0.0354%1h$11.9M$13.1M3xas long as short
Phemex USELESSUSDT−0.029%+0.0100%4h$500K$1.4M20xas long as short
MEXC USELESS_USDT−0.025%+0.0444%4h$16.5M$4.2M50xas long as short
BloFin USELESS-USDT−0.007%+0.0733%4h$1.1M$1.6M12xas long as short
Variational Omni USELESSlong0.000%+0.0629%4h$1.2M$1.5M—
Lighter USELESS+0.019%+0.0096%1h$1.3M$846K3xas long as short
Aster USELESSUSDT+0.073%+0.0899%4h$588K$1.2M10xas long as short
Aevo USELESS-PERP+0.075%+0.0192%1h$10K—3xas long as short
SunX USELESS-USDT+0.076%+0.0100%4h—$1.3M10xas long as short
Orderly PERP_USELESS_USDC+0.084%+0.1106%4h$18K$1.4M10xas long as short