PRL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0778%/8h= −85.2% APRnext payment −$3.89 per $10,000 · paid last 24h −0.150%

Price spread now: Bitget against BingX−0.256%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$191as in the Funding arb table

Net, price: spread back to 7d avg − costs−$165as in the Price arb table

costs, in and out, $10k−$1431.431% of the position

Long on BingX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.476%−$48 on $10k

Price spread, last 4 days (all we have)+0.166%+$17 · spread now −0.256%, 7d avg −0.039%

Together, before fees−0.310%−$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$23 a day on $10k at the current rate, and Bitget is 0.217% cheaper against BingX than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.039%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.476% in total (about -24.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.89 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	BingX PRL-USDT	0.1174	0.0878	pay 0.0439% / 4h	56m 08s	—	$1.6M	—
Short	Bitget PRLUSDT	0.1171	0.0100	get 0.0050% / 4h	56m 08s	$836K	$402K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against BingX. 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 BingXbpFee BitgetbpOrdersPrice spread, now −0.256%Rate

Funding earned: −$163.38
Price spread: −0.256% → −0.039%: −$21.65
Slippage, 4 orders: −$121.13
Fee BingX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$328.17
Costs to cover: 1.431%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; Bitget: live order book, 65 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 BingX live order book, 5 min ago	12.83 bp	42.8 bp −$43	116.0 bp −$1,160	doesn't fit	doesn't fit
Sell Bitget live order book, 65 min ago	8.52 bp	31.6 bp −$32	194.1 bp −$1,941	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	0.1173	−0.085%	$99K	$65K	20x	as long as short
Bitget PRLUSDTshort	+0.0100%	4h	0.1171	−0.256%	$836K	$402K	20x
SunX PRL-USDT	+0.0100%	4h	0.1172	−0.170%	$1K	$1.1M	20x	as long as short
Binance PRLUSDT	+0.0592%	4h	0.1174	+0.016%	$2.1M	$2.3M	20x	as long as short
Extended PRL-USD	+0.0592%	1h	0.1174	−0.013%	$3K	$149K	5x	as long as short
MEXC PRL_USDT	+0.0602%	4h	0.1174	0.000%	$464K	$170K	20x	as long as short
KuCoin PRLUSDTM	+0.0614%	4h	0.1173	−0.102%	$1.5M	$247K	20x	as long as short
Aster PRLUSDT	+0.0683%	4h	0.1170	−0.336%	$6K	$614	5x	as long as short
Coinbase International PRL-PERP-INTX	+0.0840%	1h	0.1171	−0.243%	$17K	$12K	50x	as long as short
BingX PRL-USDTlong	+0.0878%	4h	0.1174	long leg	—	$1.6M	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PRLUSDT	+0.0923%	4h	0.1174	0.000%	$763K	$546K	25x	as long as short
BloFin PRL-USDT	+0.0958%	4h	0.1172	−0.170%	$136K	$14K	25x	as long as short
Deribit PRL_USDC-PERPETUAL	+0.2946%	1h	0.1174	+0.006%	—	—	10x	as long as short