Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.3609%/8h= +395.1% APRpaid last 24h +0.238%

Price spread now: Lighter against Binance+0.397%7-day average +0.109% · you sell dearer than you buy

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$1371.370% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 4 days (all we have)−0.375%−$37 · spread now +0.397%, 7d avg +0.109%

Together, before fees−0.330%+ Points / potential airdropLighter: Season 3 · farm board−$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$108 a day on $10k at the current rate, and Lighter is 0.288% dearer against Binance than usual: you sell high and buy low: +$29 more if the spread goes back to its 7-day average of +0.109%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.044% in total (about 2.3% 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	Binance PROVEUSDT	0.2384	−0.6553	get 0.3276% / 4h	57m 05s	$3.4M	$36.2M	75x
Short	Lighter PROVE	0.2394	−0.2944	pay 0.0368% / 1h	57m 05s	$83K	$128K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now +0.397%Rate

Funding earned: $757.8
Price spread: +0.397% → +0.109%: $28.81
Slippage, 4 orders: −$127.04
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $649.56
Costs to cover: 1.370%
Break-even: 1.0 days

Slippage from Binance: live order book, 15 min ago; Lighter: live order book, 3 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	4.20 bp	20.3 bp −$20	80.6 bp −$806	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	36.41 bp	46.1 bp −$46	209.5 bp −$2,095	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	−0.9819%	4h	0.2395	+0.451%	$2.0M	$10.1M	25x	as long as short
BingX PROVE-USDT	−0.9178%	4h	0.2393	+0.367%	—	$2.5M	—	as long as short
Hyperliquid PROVE	−0.7481%	1h	0.2387	+0.116%	$353K	$920K	3x	as long as short
Variational Omni PROVE	−0.7412%	4h	0.2407	+0.941%	$27K	$45K	—	as long as short
Gate PROVE_USDT	−0.6902%	4h	0.2398	+0.577%	$219K	$1.0M	75x	as long as short
Binance PROVEUSDTlong	−0.6553%	4h	0.2384	long leg	$3.4M	$36.2M	75x
MEXC PROVE_USDT	−0.6518%	4h	0.2388	+0.158%	$296K	$400K	20x	as long as short
GRVT PROVE_USDT_Perp	−0.6400%	4h	0.2398	+0.577%	$230K	$2.5M	10x	as long as short
OKX PROVE-USDT-SWAP	−0.6342%	4h	0.2387	+0.116%	$606K	$8.1M	20x	as long as short
Aster PROVEUSDT	−0.6092%	4h	0.2391	+0.290%	$45K	$268K	5x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PROVEUSDT	−0.5806%	4h	0.2395	+0.451%	$666K	$4.7M	50x	as long as short
KuCoin PROVEUSDTM	−0.5602%	4h	0.2407	+0.955%	$2.9M	$1.0M	50x	as long as short
Lighter PROVEshort	−0.2944%	1h	0.2394	+0.397%	$83K	$128K	3x
ApeX Omni PROVEUSDT	−0.1293%	1h	0.2399	+0.600%	$52K	$333K	50x	as long as short