Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.5476%/8h= −599.6% APRpaid last 24h −0.384%

Price spread now: KuCoin against Lighter−0.021%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$254as in the Funding arb table

Net, price: spread back to 7d avg − costs−$195as in the Price arb table

costs, in and out, $10k−$1981.981% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.560%−$56 on $10k

Price spread, last 4 days (all we have)−0.214%−$21 · spread now −0.021%, 7d avg −0.051%

Together, before fees−0.774%+ Points / potential airdropLighter: Season 3 · farm board−$77 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.030% dearer against Lighter than usual: you sell high and buy low (spread −0.021% now, against its 7-day average of −0.051%): +$3 on $10k if it goes back. Holding the pair costs −$164 a day in funding at the current rate, which eats that in about under an hour. At the pace of the last 7 days (−0.560% in total) that is about 9 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.560% in total (about -29.2% 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	0.2375	−0.0112	get 0.0014% / 1h	6m 32s	$83K	$132K	3x
Short	KuCoin PROVEUSDTM	0.2374	−0.5588	pay 0.2794% / 4h	3h 06m	$2.9M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$1,149.96
Price spread: −0.021% → −0.051%: $3.01
Slippage, 4 orders: −$186.13
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$1,345.08
Costs to cover: 1.981%
Break-even: never at this rate

Slippage from Lighter: live order book, 48 min ago; KuCoin: live order book, 6 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	33.88 bp	34.0 bp −$34	197.8 bp −$1,978	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	11.60 bp	49.3 bp −$49	408.1 bp −$4,081	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
Variational Omni PROVE	−0.6880%	4h	0.2370	−0.214%	$29K	$47K	—	as long as short
Binance PROVEUSDT	−0.6157%	4h	0.2366	−0.379%	$3.4M	$36.9M	75x	as long as short
MEXC PROVE_USDT	−0.6156%	4h	0.2368	−0.282%	$299K	$410K	20x	as long as short
OKX PROVE-USDT-SWAP	−0.6006%	4h	0.2364	−0.451%	$613K	$8.3M	20x	as long as short
Aster PROVEUSDT	−0.5948%	4h	0.2372	−0.114%	$48K	$271K	5x	as long as short
Bitget PROVEUSDT	−0.5736%	4h	0.2364	−0.451%	$757K	$4.9M	50x	as long as short
KuCoin PROVEUSDTMshort	−0.5588%	4h	0.2374	−0.021%	$2.9M	$1.1M	50x
ApeX Omni PROVEUSDT	−0.4821%	1h	0.2362	−0.524%	$50K	$335K	50x	as long as short
Bybit PROVEUSDT	−0.4639%	4h	0.2369	−0.240%	$2.2M	$10.8M	25x	as long as short
Hyperliquid PROVE	−0.3420%	1h	0.2370	−0.185%	$351K	$929K	3x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX PROVE-USDT	−0.3346%	4h	0.2368	−0.282%	—	$2.5M	—	as long as short
Gate PROVE_USDT	−0.3164%	4h	0.2371	−0.156%	$206K	$1.0M	75x	as long as short
GRVT PROVE_USDT_Perp	−0.2870%	4h	0.2365	−0.407%	$220K	$2.6M	10x	as long as short
Lighter PROVElong	−0.0112%	1h	0.2375	long leg	$83K	$132K	3x