Funding arb · Price arb /

PRL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0244%/8h= −26.7% APRpaid last 24h +0.034%

Price spread now: KuCoin against Coinbase International+0.165%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 KuCoin

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

The price spread pays, funding is against you. KuCoin is 0.165% dearer against Coinbase International than usual: you sell high and buy low (spread +0.165% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PRL-PERP-INTX	0.1169	0.0840	pay 0.0105% / 1h	46m 59s	$17K	$12K	50x
Short	KuCoin PRLUSDTM	0.1171	0.0596	get 0.0298% / 4h	46m 59s	$1.5M	$247K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.165%Rate

Funding earned: −$51.24
Price spread: +0.165% → 0.000%: $16.51
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$56.73
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; KuCoin: live order book, 4 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 KuCoin live order book, 4 min ago	11.10 bp	217.9 bp −$218	doesn't fit	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	0.1173	+0.345%	$99K	$65K	20x	as long as short
Bitget PRLUSDT	+0.0100%	4h	0.1169	+0.028%	$834K	$410K	20x	as long as short
SunX PRL-USDT	+0.0100%	4h	0.1170	+0.114%	$2K	$1.1M	20x	as long as short
KuCoin PRLUSDTMshort	+0.0596%	4h	0.1171	+0.165%	$1.5M	$247K	20x
Extended PRL-USD	+0.0600%	1h	0.1172	+0.289%	$686	$150K	5x	as long as short
MEXC PRL_USDT	+0.0600%	4h	0.1172	+0.285%	$461K	$171K	20x	as long as short
Binance PRLUSDT	+0.0601%	4h	0.1172	+0.319%	$2.1M	$2.4M	20x	as long as short
Aster PRLUSDT	+0.0688%	4h	0.1171	+0.199%	$6K	$1K	5x	as long as short
BingX PRL-USDT	+0.0804%	4h	0.1171	+0.199%	—	$1.6M	—	as long as short
Bybit PRLUSDT	+0.0809%	4h	0.1172	+0.285%	$736K	$570K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International PRL-PERP-INTXlong	+0.0840%	1h	0.1169	long leg	$17K	$12K	50x
BloFin PRL-USDT	+0.0852%	4h	0.1173	+0.371%	$136K	$14K	25x	as long as short
Deribit PRL_USDC-PERPETUAL	+0.1853%	1h	0.1172	+0.325%	—	—	10x	as long as short