Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1069%/8h= −117.0% APRpaid last 24h −0.152%

Price spread now: Gate against Hyperliquid+0.171%7-day average +0.067% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.138%−$14 on $10k

Price spread, last 4 days (all we have)−0.290%−$29 · spread now +0.171%, 7d avg +0.067%

Together, before fees−0.428%+ Points / potential airdropHyperliquid: Season 2 · farm board−$43 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.103% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.171% now, against its 7-day average of +0.067%): +$10 on $10k if it goes back. Holding the pair costs −$32 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.138% in total) that is about 5.2 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.138% in total (about -7.2% 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	Hyperliquid PROVE	0.2346	−0.2157	get 0.0270% / 1h	51m 43s	$345K	$936K	3x
Short	Gate PROVE_USDT	0.2350	−0.3226	pay 0.1613% / 4h	2h 51m	$204K	$1.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 HyperliquidbpFee GatebpOrdersPrice spread, now +0.171%Rate

Funding earned: −$224.41
Price spread: +0.171% → +0.067%: $10.33
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$238.08
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 68 min ago; Gate: live order book, just now. Net counts fees only.

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 Hyperliquid live order book, 68 min ago	4.20 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, just now	6.40 bp	28.6 bp −$29	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
Variational Omni PROVE	−0.6387%	4h	0.2345	−0.058%	$28K	$47K	—	as long as short
MEXC PROVE_USDT	−0.5792%	4h	0.2347	+0.043%	$296K	$407K	20x	as long as short
Binance PROVEUSDT	−0.5747%	4h	0.2347	+0.056%	$3.4M	$37.0M	75x	as long as short
OKX PROVE-USDT-SWAP	−0.5727%	4h	0.2345	−0.043%	$605K	$8.2M	20x	as long as short
Aster PROVEUSDT	−0.5688%	4h	0.2350	+0.171%	$47K	$270K	5x	as long as short
Bitget PROVEUSDT	−0.5492%	4h	0.2345	−0.043%	$748K	$4.9M	50x	as long as short
KuCoin PROVEUSDTM	−0.5360%	4h	0.2350	+0.153%	$2.8M	$1.1M	50x	as long as short
Bybit PROVEUSDT	−0.4794%	4h	0.2352	+0.256%	$2.2M	$10.9M	25x	as long as short
BingX PROVE-USDT	−0.3276%	4h	0.2346	0.000%	—	$2.5M	—	as long as short
Gate PROVE_USDTshort	−0.3226%	4h	0.2350	+0.171%	$204K	$1.0M	75x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni PROVEUSDT	−0.3205%	1h	0.2349	+0.128%	$50K	$334K	50x	as long as short
GRVT PROVE_USDT_Perp	−0.2784%	4h	0.2336	−0.425%	$223K	$2.6M	10x	as long as short
Hyperliquid PROVElong	−0.2157%	1h	0.2346	long leg	$345K	$936K	3x
Lighter PROVE	+0.0080%	1h	0.2351	+0.226%	$83K	$132K	3x	as long as short