PRL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0823%/8h= +90.1% APRnext payment +$4.12 per $10,000 · paid last 24h +0.065%

Price spread now: Bybit against Bitget+0.256%7-day average +0.086% · you sell dearer than you buy

Net, funding: paid 7d − costs−$266as in the Funding arb table

Net, price: spread back to 7d avg − costs−$285as in the Price arb table

costs, in and out, $10k−$3023.024% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.362%+$36 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now +0.256%, 7d avg +0.086%

Together, before fees+0.374%+$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and Bybit is 0.170% dearer against Bitget than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.086%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.362% in total (about 18.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.12 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	Bitget PRLUSDT	0.1171	0.0100	pay 0.0050% / 4h	56m 22s	$836K	$402K	20x
Short	Bybit PRLUSDT	0.1174	0.0923	get 0.0462% / 4h	56m 22s	$763K	$546K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now +0.256%Rate

Funding earned: $172.84
Price spread: +0.256% → +0.086%: $16.97
Slippage, 4 orders: −$279.41
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$112.6
Costs to cover: 3.024%
Break-even: 11.6 days

Slippage from Bitget: live order book, 64 min ago; Bybit: live order book, 63 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 Bitget live order book, 64 min ago	8.52 bp	31.9 bp −$32	275.8 bp −$2,758	doesn't fit	doesn't fit
Sell Bybit live order book, 63 min ago	4.26 bp	91.3 bp −$91	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	0.1171	+0.026%	$99K	$65K	20x	as long as short
Bitget PRLUSDTlong	+0.0100%	4h	0.1171	long leg	$836K	$402K	20x
SunX PRL-USDT	+0.0100%	4h	0.1172	+0.085%	$1K	$1.1M	20x	as long as short
Binance PRLUSDT	+0.0592%	4h	0.1173	+0.140%	$2.1M	$2.3M	20x	as long as short
Extended PRL-USD	+0.0592%	1h	0.1174	+0.243%	$3K	$149K	5x	as long as short
MEXC PRL_USDT	+0.0602%	4h	0.1171	0.000%	$463K	$170K	20x	as long as short
KuCoin PRLUSDTM	+0.0614%	4h	0.1171	−0.034%	$1.5M	$247K	20x	as long as short
Aster PRLUSDT	+0.0683%	4h	0.1169	−0.151%	$6K	$614	5x	as long as short
Coinbase International PRL-PERP-INTX	+0.0840%	1h	0.1171	+0.013%	$17K	$12K	50x	as long as short
BingX PRL-USDT	+0.0878%	4h	0.1174	+0.256%	—	$1.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PRLUSDTshort	+0.0923%	4h	0.1174	+0.256%	$763K	$546K	25x
BloFin PRL-USDT	+0.0958%	4h	0.1172	+0.085%	$136K	$14K	25x	as long as short
Deribit PRL_USDC-PERPETUAL	+0.2946%	1h	0.1174	+0.262%	—	—	10x	as long as short