Funding arb · Price arb /

PRL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0740%/8h= −81.0% APRpaid last 24h −0.103%

Price spread now: SunX against Coinbase International+0.456%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 SunX

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. SunX is 0.456% dearer against Coinbase International than usual: you sell high and buy low (spread +0.456% now, against zero (this spread has no 7-day history yet)): +$46 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 2.1 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	1m 39s	$17K	$12K	50x
Short	SunX PRL-USDT	0.1174	0.0100	get 0.0050% / 4h	1m 39s	$2K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.456%Rate

Funding earned: −$155.4
Price spread: +0.456% → 0.000%: $45.61
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$127.79
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; SunX: live order book, 1 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 SunX live order book, 1 min ago	505.74 bp	doesn't fit	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	0.1180	+0.952%	$99K	$65K	20x	as long as short
Bitget PRLUSDT	+0.0100%	4h	0.1177	+0.713%	$850K	$414K	20x	as long as short
SunX PRL-USDTshort	+0.0100%	4h	0.1174	+0.456%	$2K	$1.1M	20x
KuCoin PRLUSDTM	+0.0534%	4h	0.1177	+0.696%	$1.5M	$252K	20x	as long as short
Bybit PRLUSDT	+0.0582%	4h	0.1178	+0.798%	$734K	$580K	25x	as long as short
BingX PRL-USDT	+0.0638%	4h	0.1179	+0.884%	—	$1.6M	—	as long as short
BloFin PRL-USDT	+0.0652%	4h	0.1175	+0.542%	$138K	$14K	25x	as long as short
MEXC PRL_USDT	+0.0668%	4h	0.1180	+0.969%	$462K	$175K	20x	as long as short
Extended PRL-USD	+0.0672%	1h	0.1179	+0.855%	$6K	$149K	5x	as long as short
Binance PRLUSDT	+0.0674%	4h	0.1179	+0.884%	$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	+0.0761%	4h	0.1175	+0.558%	$5K	$1K	5x	as long as short
Coinbase International PRL-PERP-INTXlong	+0.0840%	1h	0.1169	long leg	$17K	$12K	50x
Deribit PRL_USDC-PERPETUAL	+0.2064%	1h	0.1178	+0.794%	—	—	10x	as long as short