Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.2803%/8h= −307.0% APRpaid last 24h −0.054%

Price spread now: Bitget against ApeX Omni−1.364%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$230as in the Price arb table

costs, in and out, $10k−$970.965% of the position

Long on ApeX Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.523%+$52 on $10k

Price spread, last 4 days (all we have)+1.093%+$109 · spread now −1.364%, 7d avg −0.033%

Together, before fees+1.616%+$162 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$84 a day on $10k at the current rate, and Bitget is 1.331% cheaper against ApeX Omni than usual: you would sell low and buy high (−$133 if the spread goes back to its 7-day average of −0.033%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.523%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.523% in total (about 27.3% 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	ApeX Omni PROVEUSDT	0.2436	−0.2629	get 0.0329% / 1h	31m 24s	$51K	$334K	50x
Short	Bitget PROVEUSDT	0.2403	−0.5432	pay 0.2716% / 4h	2h 31m	$739K	$5.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against ApeX Omni. 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 ApeX OmnibpFee BitgetbpOrdersPrice spread, now −1.364%Rate

Funding earned: −$588.72
Price spread: −1.364% → −0.033%: −$133.11
Slippage, 4 orders: −$74.51
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$818.34
Costs to cover: 0.965%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 36 min ago; Bitget: live order book, 2 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 ApeX Omni live order book, 36 min ago	8.45 bp	17.1 bp −$17	138.6 bp −$1,386	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	8.32 bp	25.5 bp −$26	134.6 bp −$1,346	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	−0.7099%	4h	0.2412	−0.995%	$2.1M	$11.2M	25x	as long as short
Variational Omni PROVE	−0.6091%	4h	0.2431	−0.210%	$30K	$47K	—	as long as short
OKX PROVE-USDT-SWAP	−0.5769%	4h	0.2396	−1.651%	$598K	$8.6M	20x	as long as short
Bitget PROVEUSDTshort	−0.5432%	4h	0.2403	−1.364%	$739K	$5.1M	50x
Aster PROVEUSDT	−0.5362%	4h	0.2409	−1.123%	$46K	$274K	5x	as long as short
Binance PROVEUSDT	−0.5342%	4h	0.2398	−1.561%	$3.5M	$37.6M	75x	as long as short
MEXC PROVE_USDT	−0.5310%	4h	0.2401	−1.446%	$276K	$415K	20x	as long as short
KuCoin PROVEUSDTM	−0.5306%	4h	0.2415	−0.880%	$2.9M	$1.1M	50x	as long as short
Gate PROVE_USDT	−0.3834%	4h	0.2409	−1.118%	$213K	$1.1M	75x	as long as short
BingX PROVE-USDT	−0.3684%	4h	0.2398	−1.569%	—	$2.5M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PROVE	−0.3538%	1h	0.2407	−1.204%	$352K	$950K	3x	as long as short
GRVT PROVE_USDT_Perp	−0.3118%	4h	0.2403	−1.360%	$223K	$2.6M	10x	as long as short
ApeX Omni PROVEUSDTlong	−0.2629%	1h	0.2436	long leg	$51K	$334K	50x
Lighter PROVE	−0.0936%	1h	0.2421	−0.625%	$85K	$137K	3x	as long as short