Funding arb · Price arb /

PROVE

all PROVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0099%/8h= −10.8% APRpaid last 24h +0.029%

Price spread now: GRVT against Hyperliquid−0.309%7-day average +0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$145as in the Funding arb table

Net, price: spread back to 7d avg − costs−$198as in the Price arb table

costs, in and out, $10k−$1591.595% of the position

Long on Hyperliquid Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.142%+$14 on $10k

Price spread, last 4 days (all we have)+0.415%+$41 · spread now −0.309%, 7d avg +0.075%

Together, before fees+0.557%+ Points / potential airdropHyperliquid: Season 2 · GRVT: Active · farm board+$56 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and GRVT is 0.384% cheaper against Hyperliquid than usual: you would sell low and buy high (−$38 if the spread goes back to its 7-day average of +0.075%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.142%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid PROVE	0.2358	−0.4035	get 0.0504% / 1h	10m 54s	$348K	$954K	3x
Short	GRVT PROVE_USDT_Perp	0.2351	−0.4134	pay 0.2067% / 4h	2h 10m	$218K	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Hyperliquid. 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 HyperliquidbpFee GRVTbpOrdersPrice spread, now −0.309%Rate

Funding earned: −$20.79
Price spread: −0.309% → +0.075%: −$38.39
Slippage, 4 orders: −$141.46
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$218.64
Costs to cover: 1.595%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 39 min ago; GRVT: live order book, 3 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 Hyperliquid live order book, 39 min ago	2.56 bp	32.1 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 3 min ago	4.25 bp	53.3 bp −$53	113.9 bp −$1,139	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	−0.7515%	4h	0.2364	+0.242%	$2.1M	$11.3M	25x	as long as short
Variational Omni PROVE	−0.6153%	4h	0.2363	+0.203%	$29K	$47K	—	as long as short
OKX PROVE-USDT-SWAP	−0.5714%	4h	0.2354	−0.182%	$618K	$8.5M	20x	as long as short
Aster PROVEUSDT	−0.5461%	4h	0.2355	−0.132%	$46K	$274K	5x	as long as short
Bitget PROVEUSDT	−0.5366%	4h	0.2353	−0.225%	$721K	$5.1M	50x	as long as short
Binance PROVEUSDT	−0.5334%	4h	0.2354	−0.185%	$3.4M	$37.9M	75x	as long as short
MEXC PROVE_USDT	−0.5334%	4h	0.2353	−0.225%	$283K	$419K	20x	as long as short
KuCoin PROVEUSDTM	−0.5162%	4h	0.2358	0.000%	$2.9M	$1.2M	50x	as long as short
Gate PROVE_USDT	−0.4448%	4h	0.2357	−0.055%	$205K	$1.1M	75x	as long as short
GRVT PROVE_USDT_Perpshort	−0.4134%	4h	0.2351	−0.309%	$218K	$2.6M	10x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PROVElong	−0.4035%	1h	0.2358	long leg	$348K	$954K	3x
BingX PROVE-USDT	−0.3742%	4h	0.2355	−0.140%	—	$2.5M	—	as long as short
ApeX Omni PROVEUSDT	−0.3687%	1h	0.2349	−0.410%	$50K	$333K	50x	as long as short
Lighter PROVE	−0.1280%	1h	0.2363	+0.208%	$83K	$140K	3x	as long as short