Funding arb · Price arb /

PRL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1671%/8h= −183.0% APRpaid last 24h —

Price spread now: Binance against Deribit+0.316%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Binance

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

The price spread pays, funding is against you. Binance is 0.316% dearer against Deribit than usual: you sell high and buy low (spread +0.316% now, against zero (this spread has no 7-day history yet)): +$32 on $10k if it goes back. Holding the pair costs −$50 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit PRL_USDC-PERPETUAL	0.1183	0.2080	pay 0.0260% / 1h	8m 26s	—	—	10x
Short	Binance PRLUSDT	0.1187	0.0408	get 0.0204% / 4h	8m 26s	$2.1M	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now +0.316%Rate

Funding earned: −$351.01
Price spread: +0.316% → 0.000%: $31.57
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$336.44
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Deribit: no order-book sample; Binance: live order book, 11 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 Deribit no order-book sample	—	—	—	—	—
Sell Binance live order book, 11 min ago	4.22 bp	33.2 bp −$33	159.9 bp −$1,599	doesn't fit	doesn't fit

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	0.1185	+0.123%	$100K	$62K	20x	as long as short
Bitget PRLUSDT	+0.0100%	4h	0.1185	+0.156%	$848K	$377K	20x	as long as short
SunX PRL-USDT	+0.0100%	4h	0.1182	−0.097%	$2K	$1.1M	20x	as long as short
Coinbase International PRL-PERP-INTX	+0.0176%	1h	0.1166	−1.492%	$17K	$12K	50x	as long as short
BloFin PRL-USDT	+0.0248%	4h	0.1183	−0.013%	$136K	$14K	25x	as long as short
Bybit PRLUSDT	+0.0252%	4h	0.1188	+0.410%	$806K	$527K	25x	as long as short
KuCoin PRLUSDTM	+0.0280%	4h	0.1182	−0.097%	$1.5M	$267K	20x	as long as short
BingX PRL-USDT	+0.0392%	4h	0.1186	+0.241%	—	$1.6M	—	as long as short
Extended PRL-USD	+0.0400%	1h	0.1184	+0.103%	$4K	$158K	5x	as long as short
MEXC PRL_USDT	+0.0402%	4h	0.1187	+0.325%	$475K	$175K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PRLUSDTshort	+0.0408%	4h	0.1187	+0.316%	$2.1M	$2.4M	20x
Aster PRLUSDT	+0.0487%	4h	0.1183	−0.041%	$6K	$614	5x	as long as short
Deribit PRL_USDC-PERPETUALlong	+0.2080%	1h	0.1183	long leg	—	—	10x