Funding arb · Price arb /

PRL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0038%/8h= +4.2% APRpaid last 24h +0.056%

Price spread now: BingX against Coinbase International+0.158%7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on BingX

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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and BingX is 0.158% dearer against Coinbase International than usual: you sell high and buy low: +$16 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PRL-PERP-INTX	0.1171	0.0840	pay 0.0105% / 1h	53m 13s	$17K	$12K	50x
Short	BingX PRL-USDT	0.1173	0.0878	get 0.0439% / 4h	53m 13s	—	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Coinbase International. 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 Coinbase InternationalbpFee BingXbpOrdersPrice spread, now +0.158%Rate

Funding earned: $7.98
Price spread: +0.158% → 0.000%: $15.8
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $3.78
Costs to cover: 0.200%
Break-even: 3.7 days

Slippage unknown: Coinbase International: no order-book sample; BingX: live order book, 8 min ago. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell BingX live order book, 8 min ago	12.83 bp	36.9 bp −$37	101.4 bp −$1,014	doesn't fit	doesn't fit

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
Gate PRL_USDT	+0.0100%	4h	0.1174	+0.226%	$99K	$65K	20x	as long as short
Bitget PRLUSDT	+0.0100%	4h	0.1172	+0.073%	$837K	$402K	20x	as long as short
SunX PRL-USDT	+0.0100%	4h	0.1169	−0.184%	$1K	$1.1M	20x	as long as short
Extended PRL-USD	+0.0600%	1h	0.1171	+0.014%	$3K	$149K	5x	as long as short
MEXC PRL_USDT	+0.0602%	4h	0.1171	−0.013%	$463K	$170K	20x	as long as short
Binance PRLUSDT	+0.0602%	4h	0.1172	+0.037%	$2.1M	$2.3M	20x	as long as short
KuCoin PRLUSDTM	+0.0604%	4h	0.1172	+0.038%	$1.5M	$247K	20x	as long as short
Aster PRLUSDT	+0.0698%	4h	0.1172	+0.085%	$6K	$614	5x	as long as short
Coinbase International PRL-PERP-INTXlong	+0.0840%	1h	0.1171	long leg	$17K	$12K	50x
BingX PRL-USDTshort	+0.0878%	4h	0.1173	+0.158%	—	$1.6M	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PRLUSDT	+0.0906%	4h	0.1175	+0.329%	$763K	$554K	25x	as long as short
BloFin PRL-USDT	+0.0941%	4h	0.1174	+0.243%	$136K	$14K	25x	as long as short
Deribit PRL_USDC-PERPETUAL	+0.2277%	1h	0.1174	+0.271%	—	—	10x	as long as short