Funding arb · Price arb /

PRL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0380%/8h= −41.6% APRpaid last 24h −0.120%

Price spread now: Gate against Extended+0.180%7-day average — · you sell dearer than you buy

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

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

The price spread pays, funding is against you. Gate is 0.180% dearer against Extended than usual: you sell high and buy low (spread +0.180% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 38 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.023% in total (about 1.2% 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	0.1173	0.0480	pay 0.0060% / 1h	33m 04s	$2K	$157K	5x
Short	Gate PRL_USDT	0.1175	0.0100	get 0.0050% / 4h	2h 33m	$99K	$63K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.180%Rate

Funding earned: −$79.8
Price spread: +0.180% → 0.000%: $18.03
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$81.77
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 33 min ago; Gate: no order-book sample. 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 Extended live order book, 33 min ago	5.08 bp	45.3 bp −$45	449.9 bp −$4,499	doesn't fit	doesn't fit
Sell Gate no order-book sample	—	—	—	—	—

Gate: 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_USDTshort	+0.0100%	4h	0.1175	+0.180%	$99K	$63K	20x
Bitget PRLUSDT	+0.0100%	4h	0.1173	+0.027%	$838K	$404K	20x	as long as short
SunX PRL-USDT	+0.0100%	4h	0.1172	−0.059%	$1K	$1.1M	20x	as long as short
Coinbase International PRL-PERP-INTX	+0.0272%	1h	0.1184	+0.952%	$17K	$12K	50x	as long as short
KuCoin PRLUSDTM	+0.0426%	4h	0.1173	+0.018%	$1.5M	$262K	20x	as long as short
MEXC PRL_USDT	+0.0472%	4h	0.1172	−0.059%	$466K	$172K	20x	as long as short
Binance PRLUSDT	+0.0477%	4h	0.1173	0.000%	$2.1M	$2.4M	20x	as long as short
Extended PRL-USDlong	+0.0480%	1h	0.1173	long leg	$2K	$157K	5x
Aster PRLUSDT	+0.0534%	4h	0.1172	−0.029%	$6K	$614	5x	as long as short
BingX PRL-USDT	+0.0770%	4h	0.1172	−0.059%	—	$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	+0.0953%	4h	0.1174	+0.112%	$782K	$548K	25x	as long as short
Deribit PRL_USDC-PERPETUAL	+0.2640%	1h	0.1173	+0.037%	—	—	10x	as long as short