USELESS arbitrage explained
Right now Useless Coin (USELESS) trades on 12 venues we scan: 11 perpetual markets, 3 spot markets and 1 DEX pool. The lowest ask is on Bybit perp at $0.2087 and the highest bid on HTX perp at $0.2091.
The widest USELESS perpetual spread is between Bybit and HTX: long USELESS on Bybit at $0.2087 and short on HTX at $0.2091 for +0.17% gross, or +0.01% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is -0.015% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best USELESS route is to buy spot on Gate and short the perpetual on HTX: +0.12% gross, -0.08% net, with +0.015% a day of funding on the short leg.
Spot–spot USELESS arbitrage (buy on Gate, withdraw, deposit and sell on KuCoin) shows -0.03% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small USELESS gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: USELESS funding rates · USELESS spread charts · Useless Coin price · arbitrage scanner for all coins.