Funding arb · Price arb /

PRL

all PRL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0244%/8h= +26.7% APRpaid last 24h +0.029%

Price spread now: Coinbase International against Bybit−0.708%54s7-day average — · you buy dearer than you sell

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

Long on Bybit 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

Funding pays, the price is against you. Coinbase International is 0.708% cheaper against Bybit than usual: you would sell low and buy high (spread −0.708% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$71 on $10k: about 9.7 days of funding at the current rate (+$7 a day). The two prices were read 54 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	Bybit PRLUSDT	0.1177	0.0596	pay 0.0298% / 4h	3m 27s	$733K	$579K	25x
Short	Coinbase International PRL-PERP-INTX	0.1169	0.0840	get 0.0105% / 1h	3m 27s	$17K	$12K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.708%Rate

Funding earned: $51.27
Price spread: −0.708% → 0.000%: −$70.77
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$40.51
Costs to cover: 0.210%
Break-even: 12.5 days

Slippage unknown: Bybit: live order book, 51 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 Bybit live order book, 51 min ago	4.26 bp	137.5 bp −$137	doesn't fit	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 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
Bitget PRLUSDT	+0.0100%	4h	0.1177	0.000%	$850K	$415K	20x	as long as short
SunX PRL-USDT	+0.0100%	4h	0.1175	−0.170%	$2K	$1.1M	20x	as long as short
Gate PRL_USDT	+0.0102%	4h	0.1178	+0.127%	$99K	$65K	20x	as long as short
KuCoin PRLUSDTM	+0.0542%	4h	0.1177	+0.017%	$1.5M	$251K	20x	as long as short
Bybit PRLUSDTlong	+0.0596%	4h	0.1177	long leg	$733K	$579K	25x
BingX PRL-USDT	+0.0650%	4h	0.1178	+0.085%	—	$1.6M	—	as long as short
BloFin PRL-USDT	+0.0655%	4h	0.1179	+0.170%	$139K	$14K	25x	as long as short
Extended PRL-USD	+0.0664%	1h	0.1178	+0.056%	$6K	$149K	5x	as long as short
MEXC PRL_USDT	+0.0664%	4h	0.1178	+0.085%	$461K	$175K	20x	as long as short
Binance PRLUSDT	+0.0668%	4h	0.1178	+0.085%	$2.1M	$2.4M	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PRLUSDT	+0.0753%	4h	0.1175	−0.195%	$5K	$1K	5x	as long as short
Coinbase International PRL-PERP-INTXshort	+0.0840%	1h	0.1169	−0.708%	$17K	$12K	50x
Deribit PRL_USDC-PERPETUAL	+0.2305%	1h	0.1177	+0.008%	—	—	10x	as long as short