Funding you earn now, next payment 00:00 UTC−0.4397%/8h= −481.4% APRnext payment −$5.50 per $10,000 · paid last 24h −0.239%
Price spread now: Hyperliquid against Lighter−0.327%7-day average −0.074% · you buy dearer than you sell
Net, funding: paid 7d − costs−$150as in the Funding arb table
Net, price: spread back to 7d avg − costs−$162as in the Price arb table
costs, in and out, $10k−$1371.365% of the position
Funding, last 7 days−0.132%−$13 on $10k
+Price spread, last 4 days (all we have)+0.337%+$34 · spread now −0.327%, 7d avg −0.074%
=Together, before fees+0.205%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board+$20 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 Hyperliquid is 0.252% cheaper against Lighter than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.074%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.132% in total (about -6.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$5.50 per $10,000. 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 | 0.2387 | −0.2720 | get 0.0340% / 1h | 11m 30s | $83K | $132K | 3x |
| Short | Hyperliquid PROVE | 0.2379 | −0.7117 | pay 0.0890% / 1h | 11m 30s | $354K | $924K | 3x |
Lighter PROVE
Hyperliquid PROVEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$923.28
- Price spread: −0.327% → −0.074%
- −$25.23
- Slippage, 4 orders
- −$127.51
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$1,085.02
- Costs to cover
- 1.365%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 48 min ago; Hyperliquid: live order book, 59 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, 48 min ago | 36.41 bp | 47.0 bp −$47 | 219.4 bp −$2,194 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 59 min ago | 3.98 bp | 21.3 bp −$21 | 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 | −0.9817% | 4h | 0.2388 | +0.046% | $2.1M | $10.2M | 25x | as long as short |
| BingX PROVE-USDT | −0.9346% | 4h | 0.2384 | −0.121% | — | $2.5M | — | as long as short |
| Variational Omni PROVE | −0.8163% | 4h | 0.2385 | −0.073% | $28K | $46K | — | as long as short |
| Binance PROVEUSDT | −0.7142% | 4h | 0.2377 | −0.415% | $3.4M | $36.2M | 75x | as long as short |
| MEXC PROVE_USDT | −0.7140% | 4h | 0.2378 | −0.373% | $294K | $403K | 20x | as long as short |
| Hyperliquid PROVEshort | −0.7117% | 1h | 0.2379 | −0.327% | $354K | $924K | 3x | |
| OKX PROVE-USDT-SWAP | −0.6836% | 4h | 0.2378 | −0.373% | $607K | $8.1M | 20x | as long as short |
| Gate PROVE_USDT | −0.6798% | 4h | 0.2385 | −0.080% | $216K | $1.0M | 75x | as long as short |
| Aster PROVEUSDT | −0.6633% | 4h | 0.2390 | +0.130% | $46K | $269K | 5x | as long as short |
| GRVT PROVE_USDT_Perp | −0.6530% | 4h | 0.2384 | −0.129% | $222K | $2.5M | 10x | as long as short |
Bybit PROVEUSDT
BingX PROVE-USDT
Variational Omni PROVE
Binance PROVEUSDT
MEXC PROVE_USDT
OKX PROVE-USDT-SWAP
Gate PROVE_USDT
Aster PROVEUSDT
GRVT PROVE_USDT_PerpShow all 14 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget PROVEUSDT | −0.6436% | 4h | 0.2381 | −0.247% | $663K | $4.7M | 50x | as long as short |
| KuCoin PROVEUSDTM | −0.6218% | 4h | 0.2384 | −0.126% | $2.9M | $1.1M | 50x | as long as short |
| ApeX Omni PROVEUSDT | −0.2776% | 1h | 0.2381 | −0.248% | $52K | $333K | 50x | as long as short |
| Lighter PROVElong | −0.2720% | 1h | 0.2387 | long leg | $83K | $132K | 3x |
Bitget PROVEUSDT
KuCoin PROVEUSDTM
ApeX Omni PROVEUSDT