Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.3532%/8h= −386.8% APRpaid last 24h −0.194%

Price spread now: Binance against Hyperliquid−0.030%7-day average −0.038% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.110%−$11 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now −0.030%, 7d avg −0.038%

Together, before fees−0.123%+ Points / potential airdropHyperliquid: Season 2 · farm board−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.038%, so right now this pair is about funding alone: −$106 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 -0.110% in total (about -5.7% 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	Hyperliquid PROVE	0.2346	−0.2155	get 0.0269% / 1h	51m 13s	$345K	$936K	3x
Short	Binance PROVEUSDT	0.2345	−0.5687	pay 0.2843% / 4h	2h 51m	$3.4M	$37.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now −0.030%Rate

Funding earned: −$741.77
Price spread: −0.030% → −0.038%: $0.78
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$759.99
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 69 min ago; Binance: live order book, 6 min ago. Net counts fees only.

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 Hyperliquid live order book, 69 min ago	4.20 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	2.14 bp	22.9 bp −$23	93.3 bp −$933	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	−0.6288%	4h	0.2349	+0.146%	$28K	$47K	—	as long as short
MEXC PROVE_USDT	−0.5746%	4h	0.2343	−0.115%	$296K	$407K	20x	as long as short
OKX PROVE-USDT-SWAP	−0.5699%	4h	0.2344	−0.072%	$604K	$8.2M	20x	as long as short
Binance PROVEUSDTshort	−0.5687%	4h	0.2345	−0.030%	$3.4M	$37.0M	75x
Aster PROVEUSDT	−0.5654%	4h	0.2350	+0.183%	$47K	$270K	5x	as long as short
Bitget PROVEUSDT	−0.5472%	4h	0.2345	−0.030%	$748K	$4.9M	50x	as long as short
KuCoin PROVEUSDTM	−0.5348%	4h	0.2350	+0.166%	$2.8M	$1.1M	50x	as long as short
Bybit PROVEUSDT	−0.4823%	4h	0.2349	+0.141%	$2.2M	$10.9M	25x	as long as short
ApeX Omni PROVEUSDT	−0.4030%	1h	0.2348	+0.102%	$50K	$333K	50x	as long as short
BingX PROVE-USDT	−0.3276%	4h	0.2345	−0.030%	—	$2.5M	—	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	−0.3222%	4h	0.2345	−0.030%	$203K	$1.0M	75x	as long as short
GRVT PROVE_USDT_Perp	−0.2666%	4h	0.2349	+0.141%	$224K	$2.6M	10x	as long as short
Hyperliquid PROVElong	−0.2155%	1h	0.2346	long leg	$345K	$936K	3x
Lighter PROVE	+0.0080%	1h	0.2351	+0.217%	$83K	$132K	3x	as long as short