Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0014%/8h= −1.6% APRpaid last 24h +0.036%

Price spread now: Hyperliquid against Binance+0.246%7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$900.899% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 4 days (all we have)−0.223%−$22 · spread now +0.246%, 7d avg +0.038%

Together, before fees−0.273%+ Points / potential airdropHyperliquid: Season 2 · farm board−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.208% dearer against Binance than usual: you sell high and buy low (spread +0.246% now, against its 7-day average of +0.038%): +$21 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 48 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PROVEUSDT	0.2396	−0.5759	get 0.2880% / 4h	1h 41m	$3.5M	$35.9M	75x
Short	Hyperliquid PROVE	0.2402	−0.5774	pay 0.0722% / 1h	41m 49s	$365K	$894K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BinancebpFee HyperliquidbpOrdersPrice spread, now +0.246%Rate

Funding earned: −$3.01
Price spread: +0.246% → +0.038%: $20.75
Slippage, 4 orders: −$70.88
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$72.15
Costs to cover: 0.899%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; Hyperliquid: live order book, 38 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 Binance live order book, 15 min ago	2.09 bp	15.6 bp −$16	71.3 bp −$713	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 38 min ago	6.67 bp	11.6 bp −$12	doesn't fit	doesn't fit	doesn't fit

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
Bybit PROVEUSDT	−0.9091%	4h	0.2405	+0.371%	$2.0M	$9.9M	25x	as long as short
BingX PROVE-USDT	−0.8572%	4h	0.2401	+0.204%	—	$2.5M	—	as long as short
Gate PROVE_USDT	−0.6892%	4h	0.2395	−0.047%	$227K	$917K	75x	as long as short
Variational Omni PROVE	−0.6010%	4h	0.2399	+0.132%	$27K	$45K	—	as long as short
GRVT PROVE_USDT_Perp	−0.5884%	4h	0.2393	−0.129%	$230K	$2.5M	10x	as long as short
Hyperliquid PROVEshort	−0.5774%	1h	0.2402	+0.246%	$365K	$894K	3x
Binance PROVEUSDTlong	−0.5759%	4h	0.2396	long leg	$3.5M	$35.9M	75x
MEXC PROVE_USDT	−0.5738%	4h	0.2399	+0.120%	$306K	$399K	20x	as long as short
Aster PROVEUSDT	−0.5709%	4h	0.2399	+0.114%	$45K	$263K	5x	as long as short
OKX PROVE-USDT-SWAP	−0.5608%	4h	0.2398	+0.079%	$590K	$8.1M	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PROVEUSDT	−0.4868%	4h	0.2398	+0.079%	$670K	$4.7M	50x	as long as short
KuCoin PROVEUSDTM	−0.4836%	4h	0.2402	+0.250%	$2.8M	$1.0M	50x	as long as short
Lighter PROVE	−0.3872%	1h	0.2404	+0.325%	$84K	$124K	3x	as long as short
ApeX Omni PROVEUSDT	−0.0748%	1h	0.2392	−0.178%	$52K	$335K	50x	as long as short