Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.2573%/8h= −281.7% APRpaid last 24h −0.452%

Price spread now: OKX against Lighter−0.412%7-day average −0.099% · you buy dearer than you sell

Net, funding: paid 7d − costs−$183as in the Funding arb table

Net, price: spread back to 7d avg − costs−$178as in the Price arb table

costs, in and out, $10k−$1471.465% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.370%−$37 on $10k

Price spread, last 4 days (all we have)+0.417%+$42 · spread now −0.412%, 7d avg −0.099%

Together, before fees+0.048%+ Points / potential airdropLighter: Season 3 · farm board+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$77 a day on $10k at the current rate, and OKX is 0.313% cheaper against Lighter than usual: you would sell low and buy high (−$31 if the spread goes back to its 7-day average of −0.099%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.370% in total (about -19.3% 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	0.2279	0.0096	pay 0.0012% / 1h	56m 34s	$79K	$131K	3x
Short	OKX PROVE-USDT-SWAP	0.2270	−0.2477	pay 0.1239% / 4h	3h 56m	$625K	$8.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.412%Rate

Funding earned: −$540.33
Price spread: −0.412% → −0.099%: −$31.32
Slippage, 4 orders: −$136.51
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$718.16
Costs to cover: 1.465%
Break-even: never at this rate

Slippage from Lighter: live order book, 43 min ago; OKX: live order book, 1 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, 43 min ago	30.16 bp	45.5 bp −$46	228.1 bp −$2,281	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	2.20 bp	29.5 bp −$30	98.6 bp −$986	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
GRVT PROVE_USDT_Perp	−0.3282%	4h	0.2288	+0.377%	$221K	$2.9M	10x	as long as short
Gate PROVE_USDT	−0.2946%	4h	0.2276	−0.149%	$195K	$637K	75x	as long as short
Aster PROVEUSDT	−0.2521%	4h	0.2272	−0.331%	$45K	$276K	5x	as long as short
OKX PROVE-USDT-SWAPshort	−0.2477%	4h	0.2270	−0.412%	$625K	$8.2M	20x
Binance PROVEUSDT	−0.2456%	4h	0.2272	−0.322%	$3.4M	$38.0M	75x	as long as short
MEXC PROVE_USDT	−0.2456%	4h	0.2272	−0.325%	$294K	$416K	20x	as long as short
Bitget PROVEUSDT	−0.2452%	4h	0.2274	−0.237%	$652K	$5.2M	50x	as long as short
KuCoin PROVEUSDTM	−0.2138%	4h	0.2276	−0.158%	$2.8M	$1.1M	50x	as long as short
ApeX Omni PROVEUSDT	−0.2082%	1h	0.2300	+0.900%	$49K	$335K	50x	as long as short
Hyperliquid PROVE	−0.1207%	1h	0.2272	−0.333%	$334K	$957K	3x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PROVE	−0.1148%	4h	0.2318	+1.698%	$28K	$47K	—	as long as short
Bybit PROVEUSDT	−0.0203%	4h	0.2279	−0.018%	$2.1M	$11.5M	25x	as long as short
Lighter PROVElong	+0.0096%	1h	0.2279	long leg	$79K	$131K	3x
BingX PROVE-USDT	+0.0100%	4h	0.2276	−0.149%	—	$2.5M	—	as long as short