Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.2136%/8h= +233.9% APRpaid last 24h +0.165%

Price spread now: BingX against ApeX Omni+0.175%68s7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$940.938% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.877%+$88 on $10k

Price spread, last 4 days (all we have)−0.217%−$22 · spread now +0.175%, 7d avg −0.026%

Together, before fees+0.660%+$66 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$64 a day on $10k at the current rate, and BingX is 0.202% dearer against ApeX Omni than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of −0.026%. The two prices were read 68 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.877% in total (about 45.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PROVEUSDT	0.2284	−0.2270	get 0.0284% / 1h	12m 26s	$21K	$338K	50x
Short	BingX PROVE-USDT	0.2288	−0.0134	pay 0.0067% / 4h	3h 12m	—	$2.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against ApeX Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ApeX OmnibpFee BingXbpOrdersPrice spread, now +0.175%Rate

Funding earned: $448.58
Price spread: +0.175% → −0.026%: $20.16
Slippage, 4 orders: −$73.85
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $374.89
Costs to cover: 0.938%
Break-even: 1.1 days

Slippage from ApeX Omni: live order book, 40 min ago; BingX: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy ApeX Omni live order book, 40 min ago	10.92 bp	20.6 bp −$21	126.0 bp −$1,260	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	6.57 bp	29.7 bp −$30	84.5 bp −$845	702.9 bp −$70.3K	1214.3 bp −$607.1K

PROVE on 14 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni PROVEUSDTlong	−0.2270%	1h	0.2284	long leg	$21K	$338K	50x
Aster PROVEUSDT	−0.2116%	4h	0.2283	−0.050%	$37K	$265K	5x	as long as short
OKX PROVE-USDT-SWAP	−0.1969%	4h	0.2285	+0.044%	$638K	$7.2M	20x	as long as short
Binance PROVEUSDT	−0.1904%	4h	0.2286	+0.088%	$3.5M	$32.5M	75x	as long as short
MEXC PROVE_USDT	−0.1904%	4h	0.2285	+0.044%	$291K	$419K	20x	as long as short
Bitget PROVEUSDT	−0.1866%	4h	0.2285	+0.044%	$655K	$4.1M	50x	as long as short
KuCoin PROVEUSDTM	−0.1516%	4h	0.2286	+0.096%	$2.8M	$746K	50x	as long as short
GRVT PROVE_USDT_Perp	−0.0980%	4h	0.2283	−0.041%	$213K	$3.0M	10x	as long as short
Gate PROVE_USDT	−0.0882%	4h	0.2286	+0.088%	$203K	$645K	75x	as long as short
Hyperliquid PROVE	−0.0752%	1h	0.2286	+0.070%	$327K	$759K	3x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PROVEUSDT	−0.0305%	4h	0.2292	+0.350%	$2.1M	$9.8M	25x	as long as short
BingX PROVE-USDTshort	−0.0134%	4h	0.2288	+0.175%	—	$2.5M	—
Variational Omni PROVE	−0.0086%	4h	0.2286	+0.092%	$28K	$46K	—	as long as short
Lighter PROVE	+0.0096%	1h	0.2290	+0.276%	$80K	$131K	3x	as long as short