Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.2008%/8h= −219.9% APRpaid last 24h +0.412%

Price spread now: ApeX Omni against Bybit−0.359%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$123as in the Price arb table

costs, in and out, $10k−$940.942% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 4 days (all we have)+0.314%+$31 · spread now −0.359%, 7d avg −0.069%

Together, before fees+0.351%+$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$60 a day on $10k at the current rate, and ApeX Omni is 0.291% cheaper against Bybit than usual: you would sell low and buy high (−$29 if the spread goes back to its 7-day average of −0.069%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.038% in total (about 2.0% 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	Bybit PROVEUSDT	0.2260	0.0100	pay 0.0050% / 4h	2h 20m	$2.1M	$8.9M	25x
Short	ApeX Omni PROVEUSDT	0.2252	−0.1908	pay 0.0239% / 1h	20m 46s	$15K	$313K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now −0.359%Rate

Funding earned: −$421.78
Price spread: −0.359% → −0.069%: −$29.07
Slippage, 4 orders: −$73.21
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$545.06
Costs to cover: 0.942%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; ApeX Omni: live order book, 27 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 Bybit live order book, 2 min ago	2.21 bp	23.9 bp −$24	103.2 bp −$1,032	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 27 min ago	8.80 bp	20.7 bp −$21	146.0 bp −$1,460	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
ApeX Omni PROVEUSDTshort	−0.1908%	1h	0.2252	−0.359%	$15K	$313K	50x
Aster PROVEUSDT	−0.1868%	4h	0.2253	−0.307%	$38K	$221K	5x	as long as short
MEXC PROVE_USDT	−0.1466%	4h	0.2252	−0.354%	$275K	$392K	20x	as long as short
OKX PROVE-USDT-SWAP	−0.1461%	4h	0.2258	−0.088%	$627K	$6.5M	20x	as long as short
Binance PROVEUSDT	−0.1441%	4h	0.2254	−0.265%	$3.4M	$30.5M	75x	as long as short
Bitget PROVEUSDT	−0.1388%	4h	0.2254	−0.265%	$635K	$3.8M	50x	as long as short
Gate PROVE_USDT	−0.1306%	4h	0.2256	−0.177%	$160K	$675K	75x	as long as short
KuCoin PROVEUSDTM	−0.1008%	4h	0.2255	−0.243%	$2.7M	$693K	50x	as long as short
GRVT PROVE_USDT_Perp	−0.0948%	4h	0.2253	−0.313%	$208K	$3.1M	10x	as long as short
Hyperliquid PROVE	−0.0392%	1h	0.2255	−0.226%	$320K	$721K	3x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PROVE	+0.0096%	1h	0.2258	−0.071%	$36K	$179K	3x	as long as short
Bybit PROVEUSDTlong	+0.0100%	4h	0.2260	long leg	$2.1M	$8.9M	25x
BingX PROVE-USDT	+0.0100%	4h	0.2255	−0.221%	—	$2.5M	—	as long as short
Variational Omni PROVE	+0.0100%	4h	0.2259	−0.062%	$28K	$44K	—	as long as short