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PROVE funding rate live

The open-interest-weighted PROVE funding rate is -0.0006% per 8 hours (≈-1% APR) across 6 perpetual markets, so shorts pay longs. The highest rate is 0.0100% on Bybit (PROVEUSDT) and the lowest -0.0695% on Hyperliquid (PROVE), a spread of 0.0795% per 8h (≈87% APR). Funding is positive on 4 and negative on 2 of them, so the exchanges disagree on which side is crowded. These markets hold $7.79M of open interest. Rates are converted to an 8-hour equivalent so exchanges with different funding intervals compare directly.

Tracking for ~2h Updates every 5 s PROVE overview

Funding, 8hOI-weighted
-0.0006%
≈-1% APRshorts pay longs
HighestBybit
0.0100%
≈11% APRPROVEUSDT
LowestHyperliquid
-0.0695%
≈-76% APRPROVE
Spread between exchanges
0.0795%
≈87% APRArbitrage →

PROVE funding rate by exchange

8h equivalent · hover a rate for the exact APR
Market Funding 8h APR Who pays Open interest OI share 24h volume Price Trade
Binance PROVEUSDT 0.0080% 9% Longs pay $3.40M 43.6% $2.24M 0.2333 Trade
Kucoin PROVEUSDTM -0.0140% -15% Shorts pay $2.45M 31.4% $86K 0.2334 Trade
Bybit PROVEUSDT 0.0100% 11% Longs pay $829K 10.6% $551K 0.2333 Trade
Bitget PROVEUSDT 0.0068% 7% Longs pay $610K 7.8% $382K 0.2332 Trade
Mexc PROVE_USDT 0.0078% 9% Longs pay $320K 4.1% $126K 0.2333 Trade
Hyperliquid PROVE -0.0695% -76% Shorts pay $183K 2.3% $158K 0.2331 Trade

Sorted by open interest. Exchanges settle funding every 1, 4 or 8 hours; every rate here is converted to 8 hours. Trade links go to the exchange and may be referral links. Compare every coin on the funding rates page.

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About the PROVE funding rate

What is the PROVE funding rate?

PROVE perpetual futures never expire, so exchanges keep their price near spot with funding: a periodic payment between longs and shorts. When the perp trades above spot, the rate is positive and longs pay shorts; below spot it turns negative and shorts pay longs. The payment is a percentage of position size, charged every 1, 4 or 8 hours depending on the exchange.

How to read it

Binance and Bybit's default rate when the perp is in line with spot is 0.0100% per 8h (about 11% APR). Well above that means leveraged longs are paying up to hold PROVE; negative means shorts are crowded. The APR column shows what holding a position costs or earns over a year at today's rate. A wide spread between exchanges is what funding arbitrage traders look for.

Why do exchanges show different rates?

Each exchange computes funding from its own order book and premium, so the PROVE rate differs by venue, and intervals differ too. Volume Monitor converts every rate to an 8-hour equivalent and weights the headline figure by open interest. Rates update every few seconds from the exchanges' public feeds.