Funding arb · Price arb /

PRL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0306%/8h= −33.5% APRpaid last 24h −0.039%

Price spread now: KuCoin against Extended+0.171%7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$910as in the Funding arb table

Net, price: spread back to 7d avg − costs−$894as in the Price arb table

costs, in and out, $10k−$9149.141% of the position

Long on Extended Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 4 days (all we have)−0.231%−$23 · spread now +0.171%, 7d avg −0.028%

Together, before fees−0.193%+ Points / potential airdropExtended: Active · farm board−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.199% dearer against Extended than usual: you sell high and buy low (spread +0.171% now, against its 7-day average of −0.028%): +$20 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 2.2 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.038% in total (about 2.0% 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	0.1181	0.0408	pay 0.0051% / 1h	56m 12s	$775	$215K	5x
Short	KuCoin PRLUSDTM	0.1183	0.0102	get 0.0051% / 4h	3h 56m	$1.5M	$277K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Extended. 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 ExtendedbpFee KuCoinbpOrdersPrice spread, now +0.171%Rate

Funding earned: −$64.26
Price spread: +0.171% → −0.028%: $19.9
Slippage, 4 orders: −$897.13
Fee Extended: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$958.48
Costs to cover: 9.141%
Break-even: never at this rate

Slippage from Extended: live order book, 40 min ago; KuCoin: live order book, 10 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, 40 min ago	5.09 bp	63.6 bp −$64	478.9 bp −$4,789	doesn't fit	doesn't fit
Sell KuCoin live order book, 10 min ago	9.72 bp	243.6 bp −$244	doesn't fit	doesn't fit	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
BloFin PRL-USDT	+0.0066%	4h	0.1182	+0.112%	$137K	$14K	25x	as long as short
Gate PRL_USDT	+0.0100%	4h	0.1184	+0.273%	$100K	$51K	20x	as long as short
Bitget PRLUSDT	+0.0100%	4h	0.1182	+0.112%	$850K	$395K	20x	as long as short
SunX PRL-USDT	+0.0100%	4h	0.1183	+0.197%	$2K	$1.2M	20x	as long as short
KuCoin PRLUSDTMshort	+0.0102%	4h	0.1183	+0.171%	$1.5M	$277K	20x
Coinbase International PRL-PERP-INTX	+0.0328%	1h	0.1179	−0.124%	$17K	$12K	50x	as long as short
BingX PRL-USDT	+0.0386%	4h	0.1181	+0.027%	—	$1.6M	—	as long as short
Extended PRL-USDlong	+0.0408%	1h	0.1181	long leg	$775	$215K	5x
MEXC PRL_USDT	+0.0410%	4h	0.1182	+0.112%	$502K	$149K	20x	as long as short
Binance PRLUSDT	+0.0410%	4h	0.1181	+0.027%	$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	+0.0445%	4h	0.1182	+0.111%	$5K	$1K	5x	as long as short
Bybit PRLUSDT	+0.0448%	4h	0.1181	+0.027%	$735K	$592K	25x	as long as short
Deribit PRL_USDC-PERPETUAL	+0.1072%	1h	0.1182	+0.101%	—	—	10x	as long as short