Funding arb · Price arb /

PRL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.2113%/8h= +231.4% APRnext payment +$2.64 per $10,000 · paid last 24h —

Price spread now: Deribit against Coinbase International−0.717%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days—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. Deribit is 0.717% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.717% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$72 on $10k: about 27 hours of funding at the current rate (+$63 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PRL-PERP-INTX	0.1184	0.0632	pay 0.0079% / 1h	42m 35s	$17K	$12K	50x
Short	Deribit PRL_USDC-PERPETUAL	0.1175	0.2745	get 0.0343% / 1h	42m 35s	—	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.717%Rate

Funding earned: $443.78
Price spread: −0.717% → 0.000%: −$71.72
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $355.07
Costs to cover: 0.170%
Break-even: 1.4 days

Slippage unknown: Coinbase International: no order-book sample; Deribit: 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Deribit no order-book sample	—	—	—	—	—

Coinbase International and Deribit: 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	0.1175	−0.714%	$99K	$64K	20x	as long as short
Bitget PRLUSDT	+0.0100%	4h	0.1172	−1.001%	$831K	$391K	20x	as long as short
SunX PRL-USDT	+0.0100%	4h	0.1174	−0.832%	$2K	$1.1M	20x	as long as short
KuCoin PRLUSDTM	+0.0466%	4h	0.1175	−0.764%	$1.5M	$243K	20x	as long as short
MEXC PRL_USDT	+0.0502%	4h	0.1175	−0.748%	$470K	$171K	20x	as long as short
Extended PRL-USD	+0.0504%	1h	0.1175	−0.775%	$3K	$156K	5x	as long as short
Binance PRLUSDT	+0.0514%	4h	0.1175	−0.748%	$2.1M	$2.3M	20x	as long as short
Aster PRLUSDT	+0.0541%	4h	0.1174	−0.835%	$6K	$614	5x	as long as short
Coinbase International PRL-PERP-INTXlong	+0.0632%	1h	0.1184	long leg	$17K	$12K	50x
BloFin PRL-USDT	+0.0914%	4h	0.1172	−1.001%	$135K	$14K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX PRL-USDT	+0.0964%	4h	0.1174	−0.832%	—	$1.6M	—	as long as short
Bybit PRLUSDT	+0.0998%	4h	0.1176	−0.663%	$784K	$529K	25x	as long as short
Deribit PRL_USDC-PERPETUALshort	+0.2745%	1h	0.1175	−0.717%	—	—	10x