PRL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0304%/8h= −33.3% APRnext payment −$1.52 per $10,000 · paid last 24h +0.094%

Price spread now: Binance against Bybit−0.291%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$331as in the Funding arb table

Net, price: spread back to 7d avg − costs−$344as in the Price arb table

costs, in and out, $10k−$3173.171% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.139%−$14 on $10k

Price spread, last 4 days (all we have)+0.179%+$18 · spread now −0.291%, 7d avg −0.025%

Together, before fees+0.041%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Binance is 0.266% cheaper against Bybit than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of −0.025%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.139% in total (about -7.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.52 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	Bybit PRLUSDT	0.1175	0.0906	pay 0.0453% / 4h	53m 21s	$763K	$554K	25x
Short	Binance PRLUSDT	0.1172	0.0602	get 0.0301% / 4h	53m 21s	$2.1M	$2.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bybit. 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 BybitbpFee BinancebpOrdersPrice spread, now −0.291%Rate

Funding earned: −$63.92
Price spread: −0.291% → −0.025%: −$26.58
Slippage, 4 orders: −$296.05
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$407.55
Costs to cover: 3.171%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Binance: live order book, 11 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 Bybit live order book, 1 min ago	4.26 bp	137.5 bp −$137	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	8.54 bp	29.0 bp −$29	171.8 bp −$1,718	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	0.1174	−0.102%	$99K	$65K	20x	as long as short
Bitget PRLUSDT	+0.0100%	4h	0.1172	−0.255%	$837K	$402K	20x	as long as short
SunX PRL-USDT	+0.0100%	4h	0.1169	−0.511%	$1K	$1.1M	20x	as long as short
Extended PRL-USD	+0.0600%	1h	0.1171	−0.313%	$3K	$149K	5x	as long as short
MEXC PRL_USDT	+0.0602%	4h	0.1171	−0.340%	$463K	$170K	20x	as long as short
Binance PRLUSDTshort	+0.0602%	4h	0.1172	−0.291%	$2.1M	$2.3M	20x
KuCoin PRLUSDTM	+0.0604%	4h	0.1172	−0.289%	$1.5M	$247K	20x	as long as short
Aster PRLUSDT	+0.0698%	4h	0.1172	−0.243%	$6K	$614	5x	as long as short
Coinbase International PRL-PERP-INTX	+0.0840%	1h	0.1171	−0.328%	$17K	$12K	50x	as long as short
BingX PRL-USDT	+0.0878%	4h	0.1173	−0.170%	—	$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 PRLUSDTlong	+0.0906%	4h	0.1175	long leg	$763K	$554K	25x
BloFin PRL-USDT	+0.0941%	4h	0.1174	−0.085%	$136K	$14K	25x	as long as short
Deribit PRL_USDC-PERPETUAL	+0.2277%	1h	0.1174	−0.058%	—	—	10x	as long as short