Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.7029%/8h= −769.7% APRpaid last 24h −0.353%

Price spread now: Bybit against Lighter+0.054%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$205as in the Funding arb table

Net, price: spread back to 7d avg − costs−$156as in the Price arb table

costs, in and out, $10k−$1561.559% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.494%−$49 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now +0.054%, 7d avg +0.052%

Together, before fees−0.455%+ Points / potential airdropLighter: Season 3 · farm board−$45 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.052%, so right now this pair is about funding alone: −$211 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 -0.494% in total (about -25.8% 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	0.2397	−0.2752	get 0.0344% / 1h	8m 19s	$83K	$132K	3x
Short	Bybit PROVEUSDT	0.2398	−0.9781	pay 0.4890% / 4h	8m 19s	$2.1M	$10.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.054%Rate

Funding earned: −$1,476.04
Price spread: +0.054% → +0.052%: $0.22
Slippage, 4 orders: −$144.95
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$1,631.77
Costs to cover: 1.559%
Break-even: never at this rate

Slippage from Lighter: live order book, 51 min ago; Bybit: live order book, 5 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, 51 min ago	36.41 bp	47.0 bp −$47	219.4 bp −$2,194	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	4.18 bp	32.4 bp −$32	128.4 bp −$1,284	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 PROVEUSDTshort	−0.9781%	4h	0.2398	+0.054%	$2.1M	$10.2M	25x
BingX PROVE-USDT	−0.9346%	4h	0.2391	−0.238%	—	$2.5M	—	as long as short
Variational Omni PROVE	−0.8192%	4h	0.2387	−0.398%	$28K	$46K	—	as long as short
MEXC PROVE_USDT	−0.7164%	4h	0.2390	−0.280%	$295K	$403K	20x	as long as short
Binance PROVEUSDT	−0.7162%	4h	0.2389	−0.316%	$3.5M	$36.2M	75x	as long as short
Hyperliquid PROVE	−0.7070%	1h	0.2391	−0.259%	$355K	$918K	3x	as long as short
OKX PROVE-USDT-SWAP	−0.6861%	4h	0.2390	−0.280%	$610K	$8.2M	20x	as long as short
Gate PROVE_USDT	−0.6750%	4h	0.2390	−0.280%	$215K	$1.0M	75x	as long as short
Aster PROVEUSDT	−0.6643%	4h	0.2390	−0.263%	$46K	$269K	5x	as long as short
GRVT PROVE_USDT_Perp	−0.6520%	4h	0.2381	−0.670%	$221K	$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	−0.6454%	4h	0.2389	−0.321%	$668K	$4.7M	50x	as long as short
KuCoin PROVEUSDTM	−0.6224%	4h	0.2395	−0.071%	$2.9M	$1.1M	50x	as long as short
ApeX Omni PROVEUSDT	−0.2776%	1h	0.2381	−0.656%	$52K	$333K	50x	as long as short
Lighter PROVElong	−0.2752%	1h	0.2397	long leg	$83K	$132K	3x