Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.2552%/8h= +279.4% APRpaid last 24h +0.513%

Price spread now: Lighter against MEXC+0.619%7-day average +0.127% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$1071.073% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.318%+$32 on $10k

Price spread, last 4 days (all we have)−0.306%−$31 · spread now +0.619%, 7d avg +0.127%

Together, before fees+0.012%+ Points / potential airdropLighter: Season 3 · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$77 a day on $10k at the current rate, and Lighter is 0.493% dearer against MEXC than usual: you sell high and buy low: +$49 more if the spread goes back to its 7-day average of +0.127%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.318% in total (about 16.6% 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	0.2277	−0.2456	get 0.1228% / 4h	3h 56m	$295K	$416K	20x
Short	Lighter PROVE	0.2291	0.0096	get 0.0012% / 1h	56m 14s	$80K	$131K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.619%Rate

Funding earned: $535.92
Price spread: +0.619% → +0.127%: $49.26
Slippage, 4 orders: −$103.26
Fee MEXC: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: $477.92
Costs to cover: 1.073%
Break-even: 0.8 days

Slippage from MEXC: live order book, 44 min ago; Lighter: live order book, 43 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, 44 min ago	4.28 bp	9.9 bp −$10	45.6 bp −$456	208.7 bp −$20.9K	507.8 bp −$253.9K
Sell Lighter live order book, 43 min ago	30.16 bp	39.3 bp −$39	232.7 bp −$2,327	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	+0.483%	$221K	$2.9M	10x	as long as short
Gate PROVE_USDT	−0.2946%	4h	0.2279	+0.088%	$195K	$637K	75x	as long as short
Aster PROVEUSDT	−0.2521%	4h	0.2283	+0.264%	$45K	$278K	5x	as long as short
Binance PROVEUSDT	−0.2456%	4h	0.2282	+0.221%	$3.4M	$38.0M	75x	as long as short
MEXC PROVE_USDTlong	−0.2456%	4h	0.2277	long leg	$295K	$416K	20x
OKX PROVE-USDT-SWAP	−0.2456%	4h	0.2280	+0.132%	$628K	$8.3M	20x	as long as short
Bitget PROVEUSDT	−0.2452%	4h	0.2284	+0.307%	$657K	$5.2M	50x	as long as short
KuCoin PROVEUSDTM	−0.2138%	4h	0.2281	+0.158%	$2.8M	$1.1M	50x	as long as short
ApeX Omni PROVEUSDT	−0.2082%	1h	0.2300	+1.007%	$49K	$335K	50x	as long as short
Variational Omni PROVE	−0.1148%	4h	0.2318	+1.805%	$28K	$47K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PROVE	−0.1131%	1h	0.2278	+0.057%	$335K	$958K	3x	as long as short
Lighter PROVEshort	+0.0096%	1h	0.2291	+0.619%	$80K	$131K	3x
Bybit PROVEUSDT	+0.0100%	4h	0.2290	+0.571%	$2.1M	$11.5M	25x	as long as short
BingX PROVE-USDT	+0.0100%	4h	0.2282	+0.220%	—	$2.5M	—	as long as short