PROS arbitrage explained
Right now Pharos (PROS) trades on 6 venues we scan: 5 perpetual markets, 4 spot markets and 0 DEX pools. The lowest ask is on OKX perp at $0.654 and the highest bid on Gate perp at $0.6542.
The widest PROS perpetual spread is between OKX and Gate: long PROS on OKX at $0.654 and short on Gate at $0.6542 for +0.03% gross, or -0.13% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is +0.060% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best PROS route is to buy spot on MEXC and short the perpetual on Gate: -0.02% gross, -0.22% net, with +0.030% a day of funding on the short leg.
Spot–spot PROS arbitrage (buy on MEXC, withdraw, deposit and sell on Bitget) shows -0.05% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small PROS gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: PROS funding rates · PROS spread charts · Pharos price · arbitrage scanner for all coins.