Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.4410%/8h= −482.9% APRpaid last 24h −0.199%

Price spread now: Binance against Lighter−0.394%7-day average −0.113% · you buy dearer than you sell

Net, funding: paid 7d − costs−$137as in the Funding arb table

Net, price: spread back to 7d avg − costs−$165as in the Price arb table

costs, in and out, $10k−$1371.368% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

Price spread, last 4 days (all we have)+0.375%+$38 · spread now −0.394%, 7d avg −0.113%

Together, before fees+0.370%+ Points / potential airdropLighter: Season 3 · farm board+$37 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$132 a day on $10k at the current rate, and Binance is 0.281% cheaper against Lighter than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of −0.113%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.005% in total (about -0.3% 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	0.2391	−0.2752	get 0.0344% / 1h	7m 19s	$83K	$132K	3x
Short	Binance PROVEUSDT	0.2381	−0.7162	pay 0.3581% / 4h	7m 19s	$3.4M	$36.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.394%Rate

Funding earned: −$926.13
Price spread: −0.394% → −0.113%: −$28.08
Slippage, 4 orders: −$126.81
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$1,091.02
Costs to cover: 1.368%
Break-even: never at this rate

Slippage from Lighter: live order book, 52 min ago; Binance: live order book, 4 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, 52 min ago	36.41 bp	47.0 bp −$47	219.4 bp −$2,194	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	2.10 bp	20.6 bp −$21	79.2 bp −$792	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 PROVEUSDT	−0.9767%	4h	0.2391	+0.008%	$2.1M	$10.2M	25x	as long as short
BingX PROVE-USDT	−0.9298%	4h	0.2390	−0.033%	—	$2.5M	—	as long as short
Variational Omni PROVE	−0.8192%	4h	0.2387	−0.153%	$28K	$46K	—	as long as short
Binance PROVEUSDTshort	−0.7162%	4h	0.2381	−0.394%	$3.4M	$36.2M	75x
MEXC PROVE_USDT	−0.7162%	4h	0.2381	−0.410%	$294K	$403K	20x	as long as short
Hyperliquid PROVE	−0.7062%	1h	0.2386	−0.201%	$354K	$919K	3x	as long as short
OKX PROVE-USDT-SWAP	−0.6868%	4h	0.2382	−0.368%	$609K	$8.1M	20x	as long as short
Gate PROVE_USDT	−0.6742%	4h	0.2390	−0.033%	$215K	$1.0M	75x	as long as short
Aster PROVEUSDT	−0.6635%	4h	0.2390	−0.033%	$46K	$269K	5x	as long as short
GRVT PROVE_USDT_Perp	−0.6526%	4h	0.2390	−0.033%	$222K	$2.5M	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PROVEUSDT	−0.6460%	4h	0.2383	−0.326%	$666K	$4.7M	50x	as long as short
KuCoin PROVEUSDTM	−0.6230%	4h	0.2387	−0.138%	$2.9M	$1.1M	50x	as long as short
ApeX Omni PROVEUSDT	−0.2995%	1h	0.2387	−0.155%	$52K	$333K	50x	as long as short
Lighter PROVElong	−0.2752%	1h	0.2391	long leg	$83K	$132K	3x