Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.2054%/8h= −224.9% APRpaid last 24h −0.091%

Price spread now: KuCoin against Hyperliquid−0.097%7-day average +0.027% · you buy dearer than you sell

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

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.376%−$38 on $10k

Price spread, last 4 days (all we have)−0.139%−$14 · spread now −0.097%, 7d avg +0.027%

Together, before fees−0.515%+ Points / potential airdropHyperliquid: Season 2 · farm board−$51 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$62 a day on $10k at the current rate, and KuCoin is 0.124% cheaper against Hyperliquid than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.027%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.376% in total (about -19.6% 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	0.2376	−0.3766	get 0.0471% / 1h	17m 46s	$353K	$928K	3x
Short	KuCoin PROVEUSDTM	0.2374	−0.5820	pay 0.2910% / 4h	3h 17m	$2.9M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.097%Rate

Funding earned: −$431.31
Price spread: −0.097% → +0.027%: −$12.38
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$464.69
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 42 min ago; KuCoin: live order book, 4 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, 42 min ago	4.20 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	8.06 bp	51.9 bp −$52	400.2 bp −$4,002	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	−0.644%	$29K	$47K	—	as long as short
MEXC PROVE_USDT	−0.6562%	4h	0.2374	−0.080%	$295K	$409K	20x	as long as short
Binance PROVEUSDT	−0.6524%	4h	0.2374	−0.086%	$3.4M	$36.8M	75x	as long as short
OKX PROVE-USDT-SWAP	−0.6328%	4h	0.2373	−0.122%	$617K	$8.3M	20x	as long as short
Aster PROVEUSDT	−0.6252%	4h	0.2372	−0.148%	$48K	$271K	5x	as long as short
Bitget PROVEUSDT	−0.5980%	4h	0.2374	−0.080%	$760K	$4.9M	50x	as long as short
KuCoin PROVEUSDTMshort	−0.5820%	4h	0.2374	−0.097%	$2.9M	$1.1M	50x
ApeX Omni PROVEUSDT	−0.5243%	1h	0.2356	−0.838%	$50K	$334K	50x	as long as short
Bybit PROVEUSDT	−0.5188%	4h	0.2379	+0.130%	$2.2M	$10.7M	25x	as long as short
Hyperliquid PROVElong	−0.3766%	1h	0.2376	long leg	$353K	$928K	3x

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	+0.004%	$207K	$1.0M	75x	as long as short
BingX PROVE-USDT	−0.3638%	4h	0.2374	−0.080%	—	$2.5M	—	as long as short
GRVT PROVE_USDT_Perp	−0.3180%	4h	0.2358	−0.753%	$226K	$2.6M	10x	as long as short
Lighter PROVE	−0.0192%	1h	0.2381	+0.202%	$84K	$132K	3x	as long as short