Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.3446%/8h= +377.3% APRpaid last 24h +0.247%

Price spread now: Lighter against BingX+0.282%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$1171.169% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.035%+$3 on $10k

Price spread, last 4 days (all we have)−0.085%−$9 · spread now +0.282%, 7d avg +0.039%

Together, before fees−0.051%+ Points / potential airdropLighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$103 a day on $10k at the current rate, and Lighter is 0.243% dearer against BingX than usual: you sell high and buy low: +$24 more if the spread goes back to its 7-day average of +0.039%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.035% in total (about 1.8% 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	BingX PROVE-USDT	0.2374	−0.3638	get 0.1819% / 4h	3h 17m	—	$2.5M	—
Short	Lighter PROVE	0.2381	−0.0192	pay 0.0024% / 1h	17m 44s	$84K	$132K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BingX. 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 BingXbpFee LighterbpOrdersPrice spread, now +0.282%Rate

Funding earned: $723.66
Price spread: +0.282% → +0.039%: $24.3
Slippage, 4 orders: −$106.89
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $631.07
Costs to cover: 1.169%
Break-even: 0.9 days

Slippage from BingX: live order book, 2 min ago; Lighter: live order book, 37 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 BingX live order book, 2 min ago	8.47 bp	24.2 bp −$24	83.7 bp −$837	922.2 bp −$92.2K	doesn't fit
Sell Lighter live order book, 37 min ago	33.88 bp	33.9 bp −$34	194.6 bp −$1,946	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
Variational Omni PROVE	−0.7258%	4h	0.2361	−0.564%	$29K	$47K	—	as long as short
MEXC PROVE_USDT	−0.6562%	4h	0.2374	0.000%	$295K	$409K	20x	as long as short
Binance PROVEUSDT	−0.6524%	4h	0.2374	−0.006%	$3.4M	$36.8M	75x	as long as short
OKX PROVE-USDT-SWAP	−0.6328%	4h	0.2373	−0.042%	$617K	$8.3M	20x	as long as short
Aster PROVEUSDT	−0.6252%	4h	0.2372	−0.068%	$48K	$271K	5x	as long as short
Bitget PROVEUSDT	−0.5980%	4h	0.2374	0.000%	$760K	$4.9M	50x	as long as short
KuCoin PROVEUSDTM	−0.5820%	4h	0.2374	−0.017%	$2.9M	$1.1M	50x	as long as short
ApeX Omni PROVEUSDT	−0.5243%	1h	0.2356	−0.758%	$50K	$334K	50x	as long as short
Bybit PROVEUSDT	−0.5188%	4h	0.2379	+0.211%	$2.2M	$10.7M	25x	as long as short
Hyperliquid PROVE	−0.3766%	1h	0.2376	+0.080%	$353K	$928K	3x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PROVE_USDT	−0.3682%	4h	0.2376	+0.084%	$207K	$1.0M	75x	as long as short
BingX PROVE-USDTlong	−0.3638%	4h	0.2374	long leg	—	$2.5M	—
GRVT PROVE_USDT_Perp	−0.3180%	4h	0.2358	−0.674%	$226K	$2.6M	10x	as long as short
Lighter PROVEshort	−0.0192%	1h	0.2381	+0.282%	$84K	$132K	3x