Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0373%/8h= −40.8% APRpaid last 24h +0.037%

Price spread now: Hyperliquid against MEXC+0.042%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$630.634% of the position

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.051%−$5 on $10k

Price spread, last 4 days (all we have)+0.195%+$20 · spread now +0.042%, 7d avg +0.042%

Together, before fees+0.144%+ Points / potential airdropHyperliquid: Season 2 · farm board+$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.042%, so right now this pair is about funding alone: −$11 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.051% in total (about -2.7% 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	MEXC PROVE_USDT	0.2393	−0.6508	get 0.3254% / 4h	59m 21s	$297K	$400K	20x
Short	Hyperliquid PROVE	0.2394	−0.6881	pay 0.0860% / 1h	59m 21s	$355K	$919K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against MEXC. 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 MEXCbpFee HyperliquidbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$78.33
Price spread: +0.042% → +0.042%: −$0.01
Slippage, 4 orders: −$50.4
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$141.74
Costs to cover: 0.634%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Hyperliquid: live order book, 11 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 MEXC live order book, 1 min ago	4.17 bp	11.0 bp −$11	32.7 bp −$327	191.3 bp −$19.1K	doesn't fit
Sell Hyperliquid live order book, 11 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	−0.9729%	4h	0.2405	+0.501%	$2.0M	$10.1M	25x	as long as short
BingX PROVE-USDT	−0.9178%	4h	0.2398	+0.209%	—	$2.5M	—	as long as short
Variational Omni PROVE	−0.7412%	4h	0.2407	+0.571%	$27K	$45K	—	as long as short
Gate PROVE_USDT	−0.6894%	4h	0.2400	+0.293%	$220K	$1.0M	75x	as long as short
Hyperliquid PROVEshort	−0.6881%	1h	0.2394	+0.042%	$355K	$919K	3x
Binance PROVEUSDT	−0.6520%	4h	0.2393	−0.018%	$3.4M	$36.2M	75x	as long as short
MEXC PROVE_USDTlong	−0.6508%	4h	0.2393	long leg	$297K	$400K	20x
GRVT PROVE_USDT_Perp	−0.6400%	4h	0.2398	+0.209%	$230K	$2.5M	10x	as long as short
OKX PROVE-USDT-SWAP	−0.6298%	4h	0.2393	0.000%	$610K	$8.2M	20x	as long as short
Aster PROVEUSDT	−0.6075%	4h	0.2400	+0.287%	$46K	$268K	5x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PROVEUSDT	−0.5768%	4h	0.2396	+0.125%	$665K	$4.7M	50x	as long as short
KuCoin PROVEUSDTM	−0.5566%	4h	0.2407	+0.585%	$2.9M	$1.0M	50x	as long as short
Lighter PROVE	−0.3032%	1h	0.2404	+0.455%	$84K	$128K	3x	as long as short
ApeX Omni PROVEUSDT	−0.1250%	1h	0.2398	+0.226%	$52K	$334K	50x	as long as short