Funding arb · Price arb /

PRL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0364%/8h= +39.9% APRpaid last 24h +0.143%

Price spread now: Extended against Bitget+0.021%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$163as in the Funding arb table

Net, price: spread back to 7d avg − costs−$185as in the Price arb table

costs, in and out, $10k−$1841.839% of the position

Long on Bitget Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.212%+$21 on $10k

Price spread, last 4 days (all we have)+0.051%+$5 · spread now +0.021%, 7d avg +0.032%

Together, before fees+0.263%+ Points / potential airdropExtended: Active · farm board+$26 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.032%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.212% in total (about 11.1% a year). A funding rate is set anew for every payment. 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	0.1178	0.0100	pay 0.0050% / 4h	3h 20m	$836K	$390K	20x
Short	Extended PRL-USD	0.1178	0.0464	get 0.0058% / 1h	20m 25s	$2K	$168K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.021%Rate

Funding earned: $76.44
Price spread: +0.021% → +0.032%: −$1.11
Slippage, 4 orders: −$166.93
Fee Bitget: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$108.6
Costs to cover: 1.839%
Break-even: 16.9 days

Slippage from Bitget: live order book, 50 min ago; Extended: 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 Bitget live order book, 50 min ago	12.69 bp	34.3 bp −$34	253.3 bp −$2,533	doesn't fit	doesn't fit
Sell Extended live order book, 50 min ago	5.08 bp	74.1 bp −$74	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	+0.093%	$99K	$62K	20x	as long as short
Bitget PRLUSDTlong	+0.0100%	4h	0.1178	long leg	$836K	$390K	20x
SunX PRL-USDT	+0.0100%	4h	0.1176	−0.170%	$1K	$1.1M	20x	as long as short
Coinbase International PRL-PERP-INTX	+0.0176%	1h	0.1166	−1.061%	$17K	$12K	50x	as long as short
KuCoin PRLUSDTM	+0.0362%	4h	0.1178	+0.042%	$1.5M	$263K	20x	as long as short
Binance PRLUSDT	+0.0458%	4h	0.1178	+0.042%	$2.1M	$2.4M	20x	as long as short
Extended PRL-USDshort	+0.0464%	1h	0.1178	+0.021%	$2K	$168K	5x
MEXC PRL_USDT	+0.0464%	4h	0.1178	0.000%	$470K	$173K	20x	as long as short
Aster PRLUSDT	+0.0543%	4h	0.1178	0.000%	$6K	$614	5x	as long as short
Bybit PRLUSDT	+0.1517%	4h	0.1178	0.000%	$796K	$531K	25x	as long as short

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	0.000%	$136K	$14K	25x	as long as short
BingX PRL-USDT	+0.1728%	4h	0.1179	+0.085%	—	$1.6M	—	as long as short
Deribit PRL_USDC-PERPETUAL	+0.2516%	1h	0.1178	+0.020%	—	—	10x	as long as short