Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.5460%/8h= +597.9% APRpaid last 24h +0.384%

Price spread now: Lighter against KuCoin+0.059%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$142as in the Funding arb table

Net, price: spread back to 7d avg − costs−$197as in the Price arb table

costs, in and out, $10k−$1981.981% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.560%+$56 on $10k

Price spread, last 4 days (all we have)+0.176%+$18 · spread now +0.059%, 7d avg +0.051%

Together, before fees+0.737%+ Points / potential airdropLighter: Season 3 · farm board+$74 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.051%, so right now this pair is about funding alone: +$164 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 0.560% in total (about 29.2% 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	KuCoin PROVEUSDTM	0.2374	−0.5588	get 0.2794% / 4h	3h 06m	$2.9M	$1.1M	50x
Short	Lighter PROVE	0.2376	−0.0128	pay 0.0016% / 1h	6m 54s	$84K	$132K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.059%Rate

Funding earned: $1,146.6
Price spread: +0.059% → +0.051%: $0.78
Slippage, 4 orders: −$186.13
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $949.24
Costs to cover: 1.981%
Break-even: 1.2 days

Slippage from KuCoin: live order book, 5 min ago; Lighter: live order book, 48 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 KuCoin live order book, 5 min ago	11.60 bp	80.9 bp −$81	448.7 bp −$4,487	doesn't fit	doesn't fit
Sell Lighter live order book, 48 min ago	33.88 bp	33.9 bp −$34	194.6 bp −$1,946	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	−0.6880%	4h	0.2370	−0.193%	$29K	$47K	—	as long as short
MEXC PROVE_USDT	−0.6210%	4h	0.2368	−0.261%	$299K	$410K	20x	as long as short
Binance PROVEUSDT	−0.6157%	4h	0.2367	−0.303%	$3.4M	$36.9M	75x	as long as short
OKX PROVE-USDT-SWAP	−0.6027%	4h	0.2367	−0.303%	$614K	$8.3M	20x	as long as short
Aster PROVEUSDT	−0.5987%	4h	0.2372	−0.093%	$48K	$271K	5x	as long as short
Bitget PROVEUSDT	−0.5758%	4h	0.2365	−0.387%	$757K	$4.9M	50x	as long as short
KuCoin PROVEUSDTMlong	−0.5588%	4h	0.2374	long leg	$2.9M	$1.1M	50x
ApeX Omni PROVEUSDT	−0.4821%	1h	0.2362	−0.503%	$50K	$335K	50x	as long as short
Bybit PROVEUSDT	−0.4694%	4h	0.2373	−0.051%	$2.2M	$10.8M	25x	as long as short
Hyperliquid PROVE	−0.3432%	1h	0.2371	−0.152%	$351K	$929K	3x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX PROVE-USDT	−0.3346%	4h	0.2371	−0.135%	—	$2.5M	—	as long as short
Gate PROVE_USDT	−0.3170%	4h	0.2371	−0.135%	$206K	$1.0M	75x	as long as short
GRVT PROVE_USDT_Perp	−0.2870%	4h	0.2365	−0.387%	$220K	$2.6M	10x	as long as short
Lighter PROVEshort	−0.0128%	1h	0.2376	+0.059%	$84K	$132K	3x