Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.4149%/8h= +454.3% APRpaid last 24h +0.787%

Price spread now: Lighter against Bybit+0.081%7-day average −0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$137as in the Price arb table

costs, in and out, $10k−$1501.502% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.922%+$92 on $10k

Price spread, last 4 days (all we have)−0.199%−$20 · spread now +0.081%, 7d avg −0.051%

Together, before fees+0.723%+ Points / potential airdropLighter: Season 3 · farm board+$72 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$124 a day on $10k at the current rate, and Lighter is 0.132% dearer against Bybit than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.051%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.922% in total (about 48.1% 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	0.2344	−0.4053	get 0.2026% / 4h	52m 02s	$2.2M	$11.5M	25x
Short	Lighter PROVE	0.2346	0.0096	get 0.0012% / 1h	52m 02s	$82K	$140K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.081%Rate

Funding earned: $871.27
Price spread: +0.081% → −0.051%: $13.2
Slippage, 4 orders: −$139.21
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: $734.26
Costs to cover: 1.502%
Break-even: 1.1 days

Slippage from Bybit: live order book, 1 min ago; Lighter: live order book, 53 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, 1 min ago	2.13 bp	34.2 bp −$34	138.0 bp −$1,380	doesn't fit	doesn't fit
Sell Lighter live order book, 53 min ago	36.31 bp	40.0 bp −$40	209.9 bp −$2,099	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 PROVEUSDTlong	−0.4053%	4h	0.2344	long leg	$2.2M	$11.5M	25x
OKX PROVE-USDT-SWAP	−0.4009%	4h	0.2336	−0.341%	$615K	$8.5M	20x	as long as short
Aster PROVEUSDT	−0.3927%	4h	0.2340	−0.156%	$46K	$275K	5x	as long as short
Bitget PROVEUSDT	−0.3830%	4h	0.2342	−0.085%	$715K	$5.1M	50x	as long as short
MEXC PROVE_USDT	−0.3750%	4h	0.2338	−0.256%	$279K	$415K	20x	as long as short
Binance PROVEUSDT	−0.3701%	4h	0.2337	−0.302%	$3.5M	$37.9M	75x	as long as short
KuCoin PROVEUSDTM	−0.3520%	4h	0.2343	−0.051%	$2.8M	$1.2M	50x	as long as short
Variational Omni PROVE	−0.3200%	4h	0.2348	+0.175%	$28K	$47K	—	as long as short
GRVT PROVE_USDT_Perp	−0.3150%	4h	0.2340	−0.171%	$228K	$2.7M	10x	as long as short
Gate PROVE_USDT	−0.3134%	4h	0.2344	0.000%	$202K	$1.1M	75x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni PROVEUSDT	−0.2730%	1h	0.2335	−0.384%	$49K	$335K	50x	as long as short
BingX PROVE-USDT	−0.2662%	4h	0.2342	−0.085%	—	$2.5M	—	as long as short
Hyperliquid PROVE	−0.1036%	1h	0.2338	−0.264%	$339K	$948K	3x	as long as short
Lighter PROVEshort	+0.0096%	1h	0.2346	+0.081%	$82K	$140K	3x