Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.4566%/8h= +500.0% APRpaid last 24h +0.437%

Price spread now: Lighter against Bitget+0.070%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1341.337% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.361%+$36 on $10k

Price spread, last 4 days (all we have)+0.102%+$10 · spread now +0.070%, 7d avg +0.052%

Together, before fees+0.464%+ Points / potential airdropLighter: Season 3 · farm board+$46 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.052%, so right now this pair is about funding alone: +$137 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.361% in total (about 18.8% 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	Bitget PROVEUSDT	0.2416	−0.5406	get 0.2703% / 4h	2h 32m	$742K	$5.1M	50x
Short	Lighter PROVE	0.2418	−0.0840	pay 0.0105% / 1h	32m 18s	$85K	$137K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now +0.070%Rate

Funding earned: $958.86
Price spread: +0.070% → +0.052%: $1.84
Slippage, 4 orders: −$121.71
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $827
Costs to cover: 1.337%
Break-even: 1.0 days

Slippage from Bitget: live order book, 1 min ago; Lighter: live order book, 17 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 Bitget live order book, 1 min ago	8.32 bp	36.4 bp −$36	166.6 bp −$1,666	doesn't fit	doesn't fit
Sell Lighter live order book, 17 min ago	22.12 bp	27.9 bp −$28	198.1 bp −$1,981	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	−0.6797%	4h	0.2423	+0.290%	$2.2M	$11.2M	25x	as long as short
Variational Omni PROVE	−0.6091%	4h	0.2431	+0.626%	$30K	$47K	—	as long as short
OKX PROVE-USDT-SWAP	−0.5716%	4h	0.2413	−0.124%	$599K	$8.6M	20x	as long as short
Bitget PROVEUSDTlong	−0.5406%	4h	0.2416	long leg	$742K	$5.1M	50x
Aster PROVEUSDT	−0.5362%	4h	0.2410	−0.248%	$48K	$274K	5x	as long as short
Binance PROVEUSDT	−0.5311%	4h	0.2413	−0.124%	$3.5M	$37.6M	75x	as long as short
MEXC PROVE_USDT	−0.5310%	4h	0.2410	−0.248%	$277K	$414K	20x	as long as short
KuCoin PROVEUSDTM	−0.5282%	4h	0.2416	0.000%	$2.9M	$1.1M	50x	as long as short
Gate PROVE_USDT	−0.3748%	4h	0.2416	0.000%	$214K	$1.1M	75x	as long as short
BingX PROVE-USDT	−0.3684%	4h	0.2416	0.000%	—	$2.5M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PROVE	−0.3376%	1h	0.2417	+0.041%	$353K	$950K	3x	as long as short
GRVT PROVE_USDT_Perp	−0.2838%	4h	0.2432	+0.662%	$225K	$2.6M	10x	as long as short
ApeX Omni PROVEUSDT	−0.2629%	1h	0.2436	+0.837%	$51K	$334K	50x	as long as short
Lighter PROVEshort	−0.0840%	1h	0.2418	+0.070%	$85K	$137K	3x