Funding arb · Price arb /

PRL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0208%/8h= +22.8% APRpaid last 24h +0.073%

Price spread now: MEXC against Coinbase International−0.748%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 MEXC

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. MEXC is 0.748% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.748% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$75 on $10k: about 12 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PRL-PERP-INTX	0.1184	0.0272	pay 0.0034% / 1h	27m 34s	$17K	$12K	50x
Short	MEXC PRL_USDT	0.1175	0.0480	get 0.0240% / 4h	2h 27m	$471K	$173K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 MEXCbpOrdersPrice spread, now −0.748%Rate

Funding earned: $43.68
Price spread: −0.748% → 0.000%: −$74.76
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$45.08
Costs to cover: 0.140%
Break-even: 14.2 days

Slippage unknown: Coinbase International: no order-book sample; MEXC: live order book, 32 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 MEXC live order book, 32 min ago	4.26 bp	15.2 bp −$15	60.3 bp −$603	301.9 bp −$30.2K	873.4 bp −$436.7K

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 12 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	−0.790%	$99K	$63K	20x	as long as short
Bitget PRLUSDT	+0.0100%	4h	0.1172	−1.001%	$837K	$402K	20x	as long as short
SunX PRL-USDT	+0.0100%	4h	0.1171	−1.085%	$2K	$1.1M	20x	as long as short
Coinbase International PRL-PERP-INTXlong	+0.0272%	1h	0.1184	long leg	$17K	$12K	50x
KuCoin PRLUSDTM	+0.0454%	4h	0.1173	−0.900%	$1.5M	$257K	20x	as long as short
Extended PRL-USD	+0.0480%	1h	0.1176	−0.671%	$686	$155K	5x	as long as short
MEXC PRL_USDTshort	+0.0480%	4h	0.1175	−0.748%	$471K	$173K	20x
Binance PRLUSDT	+0.0482%	4h	0.1176	−0.646%	$2.1M	$2.4M	20x	as long as short
Aster PRLUSDT	+0.0536%	4h	0.1174	−0.863%	$6K	$614	5x	as long as short
BingX PRL-USDT	+0.1008%	4h	0.1176	−0.663%	—	$1.6M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PRLUSDT	+0.1100%	4h	0.1176	−0.663%	$781K	$545K	25x	as long as short
Deribit PRL_USDC-PERPETUAL	+0.2561%	1h	0.1174	−0.869%	—	—	10x	as long as short