Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.4002%/8h= −438.2% APRpaid last 24h −0.470%

Price spread now: Gate against Lighter−0.308%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$193as in the Funding arb table

Net, price: spread back to 7d avg − costs−$188as in the Price arb table

costs, in and out, $10k−$1581.582% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.346%−$35 on $10k

Price spread, last 4 days (all we have)−0.261%−$26 · spread now −0.308%, 7d avg −0.014%

Together, before fees−0.606%+ Points / potential airdropLighter: Season 3 · farm board−$61 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$120 a day on $10k at the current rate, and Gate is 0.294% cheaper against Lighter than usual: you would sell low and buy high (−$29 if the spread goes back to its 7-day average of −0.014%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.346% in total (about -18.0% 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	0.2339	−0.0392	get 0.0049% / 1h	43m 13s	$82K	$138K	3x
Short	Gate PROVE_USDT	0.2332	−0.4394	pay 0.2197% / 4h	1h 43m	$204K	$1.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.308%Rate

Funding earned: −$840.42
Price spread: −0.308% → −0.014%: −$29.38
Slippage, 4 orders: −$143.16
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$1,027.96
Costs to cover: 1.582%
Break-even: never at this rate

Slippage from Lighter: live order book, 1 min ago; Gate: 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, 1 min ago	36.31 bp	43.5 bp −$44	216.6 bp −$2,166	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	8.55 bp	35.1 bp −$35	doesn't fit	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	−0.6709%	4h	0.2340	+0.034%	$2.1M	$11.4M	25x	as long as short
ApeX Omni PROVEUSDT	−0.5756%	1h	0.2336	−0.156%	$49K	$334K	50x	as long as short
OKX PROVE-USDT-SWAP	−0.5513%	4h	0.2332	−0.308%	$616K	$8.4M	20x	as long as short
Variational Omni PROVE	−0.5431%	4h	0.2342	+0.102%	$28K	$47K	—	as long as short
Aster PROVEUSDT	−0.5233%	4h	0.2344	+0.219%	$46K	$273K	5x	as long as short
Bitget PROVEUSDT	−0.5084%	4h	0.2332	−0.308%	$712K	$5.1M	50x	as long as short
MEXC PROVE_USDT	−0.5034%	4h	0.2331	−0.351%	$282K	$417K	20x	as long as short
Binance PROVEUSDT	−0.5012%	4h	0.2332	−0.308%	$3.4M	$37.7M	75x	as long as short
KuCoin PROVEUSDTM	−0.4814%	4h	0.2334	−0.209%	$2.8M	$1.1M	50x	as long as short
Gate PROVE_USDTshort	−0.4394%	4h	0.2332	−0.308%	$204K	$1.1M	75x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT PROVE_USDT_Perp	−0.4356%	4h	0.2338	−0.032%	$216K	$2.7M	10x	as long as short
Hyperliquid PROVE	−0.3681%	1h	0.2334	−0.227%	$346K	$942K	3x	as long as short
BingX PROVE-USDT	−0.3558%	4h	0.2335	−0.180%	—	$2.5M	—	as long as short
Lighter PROVElong	−0.0392%	1h	0.2339	long leg	$82K	$138K	3x