Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0378%/8h= −41.4% APRpaid last 24h −0.562%

Price spread now: GRVT against Lighter−0.224%108s7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$208as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1761.762% of the position

Long on Lighter Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.323%−$32 on $10k

Price spread, last 4 days (all we have)+0.542%+$54 · spread now −0.224%, 7d avg −0.002%

Together, before fees+0.219%+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm board+$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and GRVT is 0.222% cheaper against Lighter than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.002%). Swap the legs. The two prices were read 108 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PROVE	0.2278	0.0096	pay 0.0012% / 1h	45m 42s	$35K	$120K	3x
Short	GRVT PROVE_USDT_Perp	0.2273	−0.0282	pay 0.0141% / 4h	45m 42s	$211K	$3.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.224%Rate

Funding earned: −$79.38
Price spread: −0.224% → −0.002%: −$22.22
Slippage, 4 orders: −$167.23
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$277.84
Costs to cover: 1.762%
Break-even: never at this rate

Slippage from Lighter: live order book, 39 min ago; GRVT: live order book, 3 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, 39 min ago	15.39 bp	43.8 bp −$44	205.4 bp −$2,054	doesn't fit	doesn't fit
Sell GRVT live order book, 3 min ago	4.39 bp	45.0 bp −$45	125.1 bp −$1,251	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 PROVEUSDT	−0.1121%	4h	0.2278	−0.017%	$38K	$207K	5x	as long as short
Bitget PROVEUSDT	−0.0748%	4h	0.2276	−0.092%	$623K	$3.5M	50x	as long as short
Gate PROVE_USDT	−0.0710%	4h	0.2283	+0.215%	$157K	$684K	75x	as long as short
MEXC PROVE_USDT	−0.0672%	4h	0.2276	−0.092%	$318K	$375K	20x	as long as short
Binance PROVEUSDT	−0.0656%	4h	0.2275	−0.114%	$3.4M	$29.3M	75x	as long as short
OKX PROVE-USDT-SWAP	−0.0572%	4h	0.2277	−0.048%	$639K	$6.4M	20x	as long as short
ApeX Omni PROVEUSDT	−0.0571%	1h	0.2273	−0.241%	$15K	$309K	50x	as long as short
KuCoin PROVEUSDTM	−0.0290%	4h	0.2280	+0.083%	$2.7M	$677K	50x	as long as short
GRVT PROVE_USDT_Perpshort	−0.0282%	4h	0.2273	−0.224%	$211K	$3.4M	10x
Lighter PROVElong	+0.0096%	1h	0.2278	long leg	$35K	$120K	3x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PROVE	+0.0100%	1h	0.2278	−0.004%	$321K	$694K	3x	as long as short
Bybit PROVEUSDT	+0.0100%	4h	0.2280	+0.083%	$2.1M	$8.5M	25x	as long as short
BingX PROVE-USDT	+0.0100%	4h	0.2278	−0.004%	—	$2.4M	—	as long as short
Variational Omni PROVE	+0.0100%	4h	0.2282	+0.174%	$27K	$47K	—	as long as short