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)−0.189%
7d average−0.143%if it closes, per $10,000$19funding while held, a day−$11.12
Long on Variational OmniShort on Lighter
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni USELESS0.28490.0467pay 0.0233% / 4h3h 25m$1.2M$1.5M—
ShortLighter USELESS0.28440.0096get 0.0012% / 1h25m 22s$1.3M$952K3x

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
−$18.93
Funding while held
−$11.12
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee Lighter: 0 bp × 2 orders
$0
Net
−$30.05
Spread needed to break even
0.000%
Slippage unknown: Variational Omni: RFQ quote, just now; Lighter: live order book, 2 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
−0.0371%
Per $10,000 a day
−$11.12
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 Variational Omni RFQ quote, just now7.02 bpdoesn't fit45.6 bp −$456doesn't fitdoesn't fit
Sell Lighter live order book, 2 min ago2.63 bp23.2 bp −$2373.9 bp −$739doesn't fitdoesn't fit

USELESS price on every exchange

against the cheapest. Click to use as the short leg.
Injective0.2689cheapest
Aevo0.2838+5.556%OKX0.2839+5.567%Gate0.2839+5.567%Binance0.2839+5.582%BingX0.2839+5.589%Bybit0.2840+5.604%MEXC0.2841+5.653%Bitget0.2841+5.653%Polymarket Perps0.2842+5.682%Orderly0.2842+5.682%KuCoin0.2842+5.686%Extended0.2842+5.687%Aster0.2843+5.716%
Lighter0.2844+5.768%
Hyperliquid0.2845+5.798%Pacifica0.2845+5.820%Phemex0.2847+5.872%SunX0.2848+5.932%HTX0.2849+5.935%
Variational Omni0.2849+5.968%
ApeX Omni0.2858+6.285%edgeX0.2859+6.308%BloFin0.2866+6.579%

USELESS on 24 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective USELESS/USDC PERP−5.632%−0.5000%1h$3K$18K5.5xas long as short
Aevo USELESS-PERP−0.390%+0.0200%1h$10K—3xas long as short
OKX USELESS-USDT-SWAP−0.379%+0.0100%4h$9.7M$55.7M10xas long as short
Gate USELESS_USDT−0.379%+0.0100%4h$6.6M$6.1M50xas long as short
Binance USELESSUSDT−0.365%+0.0493%4h$24.1M$89.2M50xas long as short
BingX USELESS-USDT−0.358%+0.0662%4h—$4.2M—as long as short
Bybit USELESSUSDT−0.344%+0.0756%4h$27.9M$36.4M13xas long as short
MEXC USELESS_USDT−0.298%+0.0496%4h$18.0M$4.7M50xas long as short
Bitget USELESSUSDT−0.298%+0.0202%4h$5.4M$6.7M20xas long as short
Polymarket Perps USELESS-USD−0.270%+0.0807%1h$33K$112K3xas long as short
Show all 24 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Orderly PERP_USELESS_USDC−0.270%+0.0968%4h$22K$1.4M10xas long as short
KuCoin USELESSUSDTM−0.266%+0.0100%4h$5.2M$7.2M12xas long as short
Extended USELESS-USD−0.265%+0.0496%1h$265K$917K5xas long as short
Aster USELESSUSDT−0.238%+0.1102%4h$675K$1.4M10xas long as short
Lighter USELESSshort−0.189%+0.0096%1h$1.3M$952K3x
Hyperliquid USELESS−0.161%+0.0972%1h$13.5M$14.4M3xas long as short
Pacifica USELESS−0.140%+0.0100%1h$28K$104K3xas long as short
Phemex USELESSUSDT−0.091%+0.0188%4h$509K$1.3M20xas long as short
SunX USELESS-USDT−0.035%+0.0100%4h—$1.3M10xas long as short
HTX USELESS-USDT−0.031%+0.0100%4h$21K$320K20xas long as short
Variational Omni USELESSlong0.000%+0.0467%4h$1.2M$1.5M—
ApeX Omni USELESSUSDT+0.299%+0.0100%1h$37K$689K25xas long as short
edgeX USELESSUSDC+0.320%+0.0498%4h$22K$184K10xas long as short
BloFin USELESS-USDT+0.576%+0.1052%4h$1.2M$1.7M12xas long as short