Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1343%/8h= −147.0% APRpaid last 24h −0.650%

Price spread now: Aster against Lighter−0.153%7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$192as in the Funding arb table

Net, price: spread back to 7d avg − costs−$158as in the Price arb table

costs, in and out, $10k−$1461.463% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.457%−$46 on $10k

Price spread, last 4 days (all we have)+0.237%+$24 · spread now −0.153%, 7d avg −0.036%

Together, before fees−0.220%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board−$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$40 a day on $10k at the current rate, and Aster is 0.117% cheaper against Lighter than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.036%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.457% in total (about -23.8% 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	Lighter PROVE	0.2269	0.0096	pay 0.0012% / 1h	59m 02s	$35K	$120K	3x
Short	Aster PROVEUSDT	0.2265	−0.1247	pay 0.0623% / 4h	59m 02s	$38K	$207K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now −0.153%Rate

Funding earned: −$281.99
Price spread: −0.153% → −0.036%: −$11.72
Slippage, 4 orders: −$138.31
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$440.02
Costs to cover: 1.463%
Break-even: never at this rate

Slippage from Lighter: live order book, 25 min ago; Aster: live order book, 43 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 Lighter live order book, 25 min ago	15.39 bp	43.8 bp −$44	205.4 bp −$2,054	doesn't fit	doesn't fit
Sell Aster live order book, 43 min ago	6.65 bp	24.9 bp −$25	296.4 bp −$2,964	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
Aster PROVEUSDTshort	−0.1247%	4h	0.2265	−0.153%	$38K	$207K	5x
ApeX Omni PROVEUSDT	−0.0942%	1h	0.2264	−0.191%	$15K	$309K	50x	as long as short
Bitget PROVEUSDT	−0.0814%	4h	0.2263	−0.247%	$620K	$3.6M	50x	as long as short
Gate PROVE_USDT	−0.0804%	4h	0.2270	+0.062%	$156K	$681K	75x	as long as short
Binance PROVEUSDT	−0.0781%	4h	0.2263	−0.242%	$3.4M	$29.4M	75x	as long as short
MEXC PROVE_USDT	−0.0780%	4h	0.2265	−0.159%	$316K	$371K	20x	as long as short
OKX PROVE-USDT-SWAP	−0.0656%	4h	0.2264	−0.203%	$634K	$6.4M	20x	as long as short
KuCoin PROVEUSDTM	−0.0404%	4h	0.2267	−0.079%	$2.7M	$676K	50x	as long as short
GRVT PROVE_USDT_Perp	−0.0330%	4h	0.2267	−0.072%	$209K	$3.3M	10x	as long as short
Hyperliquid PROVE	−0.0021%	1h	0.2266	−0.107%	$318K	$695K	3x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PROVElong	+0.0096%	1h	0.2269	long leg	$35K	$120K	3x
Bybit PROVEUSDT	+0.0100%	4h	0.2268	−0.026%	$2.1M	$8.6M	25x	as long as short
BingX PROVE-USDT	+0.0100%	4h	0.2267	−0.071%	—	$2.4M	—	as long as short
Variational Omni PROVE	+0.0100%	4h	0.2268	−0.022%	$26K	$47K	—	as long as short