Funding arb · Price arb /

PRL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0594%/8h= −65.0% APRpaid last 24h −0.068%

Price spread now: Coinbase International against BingX+1.011%53s7-day average — · you sell dearer than you buy

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

Long on BingX 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

The price spread pays, funding is against you. Coinbase International is 1.011% dearer against BingX than usual: you sell high and buy low (spread +1.011% now, against zero (this spread has no 7-day history yet)): +$101 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 5.7 days. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PRL-USDT	0.1172	0.0866	pay 0.0433% / 4h	2h 31m	—	$1.6M	—
Short	Coinbase International PRL-PERP-INTX	0.1184	0.0272	get 0.0034% / 1h	31m 28s	$17K	$12K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +1.011%Rate

Funding earned: −$124.74
Price spread: +1.011% → 0.000%: $101.11
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$43.63
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: BingX: live order book, 6 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 BingX live order book, 6 min ago	12.78 bp	33.8 bp −$34	131.3 bp −$1,313	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 12 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	0.1175	+0.230%	$99K	$63K	20x	as long as short
Bitget PRLUSDT	+0.0100%	4h	0.1173	+0.085%	$838K	$403K	20x	as long as short
SunX PRL-USDT	+0.0100%	4h	0.1173	+0.085%	$1K	$1.1M	20x	as long as short
Coinbase International PRL-PERP-INTXshort	+0.0272%	1h	0.1184	+1.011%	$17K	$12K	50x
KuCoin PRLUSDTM	+0.0438%	4h	0.1173	+0.077%	$1.5M	$261K	20x	as long as short
MEXC PRL_USDT	+0.0476%	4h	0.1173	+0.085%	$466K	$172K	20x	as long as short
Binance PRLUSDT	+0.0477%	4h	0.1174	+0.171%	$2.1M	$2.4M	20x	as long as short
Extended PRL-USD	+0.0480%	1h	0.1174	+0.145%	$2K	$157K	5x	as long as short
Aster PRLUSDT	+0.0534%	4h	0.1172	+0.039%	$6K	$614	5x	as long as short
BingX PRL-USDTlong	+0.0866%	4h	0.1172	long leg	—	$1.6M	—

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PRLUSDT	+0.1015%	4h	0.1174	+0.171%	$783K	$546K	25x	as long as short
Deribit PRL_USDC-PERPETUAL	+0.2227%	1h	0.1174	+0.142%	—	—	10x	as long as short