PRL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0572%/8h= −62.7% APRnext payment −$2.86 per $10,000 · paid last 24h −0.149%

Price spread now: Bitget against Binance−0.127%7-day average −0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$163as in the Funding arb table

Net, price: spread back to 7d avg − costs−$144as in the Price arb table

costs, in and out, $10k−$1381.377% of the position

Long on Binance Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.253%−$25 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now −0.127%, 7d avg −0.061%

Together, before fees−0.265%−$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Bitget is 0.066% cheaper against Binance than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.061%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.253% in total (about -13.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.86 per $10,000. 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	Binance PRLUSDT	0.1179	0.0672	pay 0.0336% / 4h	2h 31m	$2.1M	$2.4M	20x
Short	Bitget PRLUSDT	0.1178	0.0100	get 0.0050% / 4h	2h 31m	$846K	$419K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Binance. 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 BinancebpFee BitgetbpOrdersPrice spread, now −0.127%Rate

Funding earned: −$120.2
Price spread: −0.127% → −0.061%: −$6.58
Slippage, 4 orders: −$115.75
Fee Binance: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$264.52
Costs to cover: 1.377%
Break-even: never at this rate

Slippage from Binance: live order book, 3 min ago; Bitget: live order book, 14 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 Binance live order book, 3 min ago	4.22 bp	29.1 bp −$29	303.7 bp −$3,037	doesn't fit	doesn't fit
Sell Bitget live order book, 14 min ago	8.47 bp	25.9 bp −$26	221.8 bp −$2,218	doesn't fit	doesn't fit

PRL on 13 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
BloFin PRL-USDT	+0.0095%	4h	0.1184	+0.382%	$139K	$14K	25x	as long as short
Bybit PRLUSDT	+0.0100%	4h	0.1179	−0.042%	$726K	$583K	25x	as long as short
Gate PRL_USDT	+0.0100%	4h	0.1180	+0.068%	$100K	$65K	20x	as long as short
Bitget PRLUSDTshort	+0.0100%	4h	0.1178	−0.127%	$846K	$419K	20x
SunX PRL-USDT	+0.0100%	4h	0.1177	−0.212%	$2K	$1.1M	20x	as long as short
Coinbase International PRL-PERP-INTX	+0.0352%	1h	0.1179	−0.024%	$17K	$12K	50x	as long as short
KuCoin PRLUSDTM	+0.0548%	4h	0.1178	−0.144%	$1.5M	$264K	20x	as long as short
BingX PRL-USDT	+0.0666%	4h	0.1178	−0.127%	—	$1.6M	—	as long as short
Extended PRL-USD	+0.0672%	1h	0.1179	−0.024%	$3K	$167K	5x	as long as short
Binance PRLUSDTlong	+0.0672%	4h	0.1179	long leg	$2.1M	$2.4M	20x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC PRL_USDT	+0.0684%	4h	0.1179	−0.042%	$473K	$176K	20x	as long as short
Aster PRLUSDT	+0.0715%	4h	0.1178	−0.087%	$5K	$1K	5x	as long as short
Deribit PRL_USDC-PERPETUAL	+0.1483%	1h	0.1179	−0.046%	—	—	10x	as long as short