PRL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1059%/8h= +116.0% APRnext payment +$5.30 per $10,000 · paid last 24h −0.095%

Price spread now: Bybit against Binance−0.043%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$292as in the Funding arb table

Net, price: spread back to 7d avg − costs−$312as in the Price arb table

costs, in and out, $10k−$3063.057% of the position

Long on Binance Short on Bybit

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)+0.077%+$8 · spread now −0.043%, 7d avg +0.024%

Together, before fees+0.215%+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.067% cheaper against Binance than usual: you would sell low and buy high (spread −0.043% now, against its 7-day average of +0.024%). If the spread goes back, that is −$7 on $10k: about 5 hours of funding at the current rate (+$32 a day). At the pace of the last 7 days (+0.138% in total) that is about 3.4 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; at this rate the next one is about +$5.30 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	0.0458	pay 0.0229% / 4h	3h 20m	$2.1M	$2.4M	20x
Short	Bybit PRLUSDT	0.1178	0.1517	get 0.0758% / 4h	3h 20m	$796K	$531K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.043%Rate

Funding earned: $222.41
Price spread: −0.043% → +0.024%: −$6.71
Slippage, 4 orders: −$284.71
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$90.01
Costs to cover: 3.057%
Break-even: 9.8 days

Slippage from Binance: live order book, 15 min ago; Bybit: live order book, 50 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, 15 min ago	4.23 bp	31.8 bp −$32	326.4 bp −$3,264	doesn't fit	doesn't fit
Sell Bybit live order book, 50 min ago	4.22 bp	112.3 bp −$112	doesn't fit	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
Gate PRL_USDT	+0.0100%	4h	0.1179	+0.042%	$99K	$62K	20x	as long as short
Bitget PRLUSDT	+0.0100%	4h	0.1178	−0.043%	$836K	$390K	20x	as long as short
SunX PRL-USDT	+0.0100%	4h	0.1176	−0.212%	$1K	$1.1M	20x	as long as short
Coinbase International PRL-PERP-INTX	+0.0176%	1h	0.1166	−1.103%	$17K	$12K	50x	as long as short
KuCoin PRLUSDTM	+0.0362%	4h	0.1178	0.000%	$1.5M	$263K	20x	as long as short
Extended PRL-USD	+0.0456%	1h	0.1178	−0.026%	$2K	$168K	5x	as long as short
Binance PRLUSDTlong	+0.0458%	4h	0.1179	long leg	$2.1M	$2.4M	20x
MEXC PRL_USDT	+0.0464%	4h	0.1178	−0.043%	$470K	$173K	20x	as long as short
Aster PRLUSDT	+0.0543%	4h	0.1178	−0.044%	$6K	$614	5x	as long as short
Bybit PRLUSDTshort	+0.1517%	4h	0.1178	−0.043%	$796K	$531K	25x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin PRL-USDT	+0.1669%	4h	0.1178	−0.043%	$136K	$14K	25x	as long as short
BingX PRL-USDT	+0.1728%	4h	0.1177	−0.128%	—	$1.6M	—	as long as short
Deribit PRL_USDC-PERPETUAL	+0.2490%	1h	0.1178	−0.016%	—	—	10x	as long as short