Funding arb · Price arb /

PRL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0460%/8h= +50.4% APRpaid last 24h +0.001%

Price spread now: BingX against Extended+0.072%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$183as in the Funding arb table

Net, price: spread back to 7d avg − costs−$202as in the Price arb table

costs, in and out, $10k−$2082.083% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.254%+$25 on $10k

Price spread, last 4 days (all we have)−0.072%−$7 · spread now +0.072%, 7d avg +0.007%

Together, before fees+0.181%+ Points / potential airdropExtended: Active · farm board+$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and BingX is 0.065% dearer against Extended than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.007%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.254% in total (about 13.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PRL-USD	0.1176	0.0504	pay 0.0063% / 1h	42m 54s	$3K	$156K	5x
Short	BingX PRL-USDT	0.1177	0.0964	get 0.0482% / 4h	1h 42m	—	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Extended. 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 ExtendedbpFee BingXbpOrdersPrice spread, now +0.072%Rate

Funding earned: $96.6
Price spread: +0.072% → +0.007%: $6.52
Slippage, 4 orders: −$193.28
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$105.16
Costs to cover: 2.083%
Break-even: 14.6 days

Slippage from Extended: live order book, 18 min ago; BingX: live order book, 4 min ago.

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 Extended live order book, 18 min ago	5.11 bp	67.2 bp −$67	486.5 bp −$4,865	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	12.80 bp	33.3 bp −$33	108.5 bp −$1,085	1058.6 bp −$105.9K	doesn't fit

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	−0.132%	$99K	$64K	20x	as long as short
Bitget PRLUSDT	+0.0100%	4h	0.1172	−0.353%	$831K	$391K	20x	as long as short
SunX PRL-USDT	+0.0100%	4h	0.1174	−0.183%	$2K	$1.1M	20x	as long as short
KuCoin PRLUSDTM	+0.0466%	4h	0.1175	−0.115%	$1.5M	$243K	20x	as long as short
MEXC PRL_USDT	+0.0496%	4h	0.1175	−0.098%	$470K	$171K	20x	as long as short
Binance PRLUSDT	+0.0502%	4h	0.1176	+0.012%	$2.1M	$2.3M	20x	as long as short
Extended PRL-USDlong	+0.0504%	1h	0.1176	long leg	$3K	$156K	5x
Aster PRLUSDT	+0.0533%	4h	0.1174	−0.190%	$6K	$614	5x	as long as short
Coinbase International PRL-PERP-INTX	+0.0632%	1h	0.1184	+0.655%	$17K	$12K	50x	as long as short
BloFin PRL-USDT	+0.0914%	4h	0.1172	−0.353%	$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-USDTshort	+0.0964%	4h	0.1177	+0.072%	—	$1.6M	—
Bybit PRLUSDT	+0.0972%	4h	0.1176	−0.013%	$784K	$529K	25x	as long as short
Deribit PRL_USDC-PERPETUAL	+0.2745%	1h	0.1175	−0.067%	—	—	10x	as long as short