Funding arb · Price arb /

PRL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0232%/8h= −25.4% APRpaid last 24h −0.070%

Price spread now: Coinbase International against Binance−1.802%7-day average — · you buy dearer than you sell

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

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Coinbase International is 1.802% cheaper against Binance than usual: you would sell low and buy high (−$180 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PRLUSDT	0.1187	0.0408	pay 0.0204% / 4h	8m 28s	$2.1M	$2.4M	20x
Short	Coinbase International PRL-PERP-INTX	0.1166	0.0176	get 0.0022% / 1h	8m 28s	$17K	$12K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −1.802%Rate

Funding earned: −$48.77
Price spread: −1.802% → 0.000%: −$180.18
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$248.95
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 11 min ago; Coinbase International: no order-book sample. 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 Binance live order book, 11 min ago	4.22 bp	35.8 bp −$36	354.3 bp −$3,543	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.1185	−0.193%	$100K	$62K	20x	as long as short
Bitget PRLUSDT	+0.0100%	4h	0.1185	−0.159%	$848K	$377K	20x	as long as short
SunX PRL-USDT	+0.0100%	4h	0.1182	−0.412%	$2K	$1.1M	20x	as long as short
Coinbase International PRL-PERP-INTXshort	+0.0176%	1h	0.1166	−1.802%	$17K	$12K	50x
BloFin PRL-USDT	+0.0248%	4h	0.1183	−0.327%	$136K	$14K	25x	as long as short
Bybit PRLUSDT	+0.0252%	4h	0.1188	+0.094%	$806K	$527K	25x	as long as short
KuCoin PRLUSDTM	+0.0280%	4h	0.1182	−0.412%	$1.5M	$267K	20x	as long as short
BingX PRL-USDT	+0.0392%	4h	0.1186	−0.075%	—	$1.6M	—	as long as short
Extended PRL-USD	+0.0400%	1h	0.1184	−0.212%	$4K	$158K	5x	as long as short
MEXC PRL_USDT	+0.0402%	4h	0.1187	+0.010%	$475K	$175K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PRLUSDTlong	+0.0408%	4h	0.1187	long leg	$2.1M	$2.4M	20x
Aster PRLUSDT	+0.0487%	4h	0.1183	−0.356%	$6K	$614	5x	as long as short
Deribit PRL_USDC-PERPETUAL	+0.2080%	1h	0.1183	−0.315%	—	—	10x	as long as short