Funding arb · Price arb /

PRL

all PRL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0236%/8h= +25.8% APRpaid last 24h +0.073%

Price spread now: Coinbase International against Gate−0.067%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Coinbase International

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

Funding pays, the price is against you. Coinbase International is 0.067% cheaper against Gate than usual: you would sell low and buy high (spread −0.067% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 23 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PRL_USDT	0.1180	0.0100	pay 0.0050% / 4h	1h 03m	$100K	$62K	20x
Short	Coinbase International PRL-PERP-INTX	0.1179	0.0336	get 0.0042% / 1h	3m 46s	$17K	$12K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now −0.067%Rate

Funding earned: $49.56
Price spread: −0.067% → 0.000%: −$6.69
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $17.87
Costs to cover: 0.250%
Break-even: 4.5 days

Slippage unknown: Gate: no order-book sample; Coinbase International: 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 Gate no order-book sample	—	—	—	—	—
Sell Coinbase International no order-book sample	—	—	—	—	—

Gate and 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
Bybit PRLUSDT	+0.0100%	4h	0.1179	−0.085%	$734K	$592K	25x	as long as short
Gate PRL_USDTlong	+0.0100%	4h	0.1180	long leg	$100K	$62K	20x
Bitget PRLUSDT	+0.0100%	4h	0.1178	−0.169%	$848K	$415K	20x	as long as short
SunX PRL-USDT	+0.0100%	4h	0.1179	−0.085%	$1K	$1.2M	20x	as long as short
BloFin PRL-USDT	+0.0130%	4h	0.1181	+0.085%	$137K	$14K	25x	as long as short
KuCoin PRLUSDTM	+0.0168%	4h	0.1179	−0.119%	$1.5M	$269K	20x	as long as short
Coinbase International PRL-PERP-INTXshort	+0.0336%	1h	0.1179	−0.067%	$17K	$12K	50x
Aster PRLUSDT	+0.0452%	4h	0.1179	−0.114%	$5K	$1K	5x	as long as short
Binance PRLUSDT	+0.0458%	4h	0.1179	−0.062%	$2.1M	$2.4M	20x	as long as short
Extended PRL-USD	+0.0464%	1h	0.1179	−0.076%	$1K	$141K	5x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC PRL_USDT	+0.0464%	4h	0.1179	−0.085%	$498K	$176K	20x	as long as short
BingX PRL-USDT	+0.0464%	4h	0.1178	−0.169%	—	$1.6M	—	as long as short
Deribit PRL_USDC-PERPETUAL	+0.1781%	1h	0.1179	−0.053%	—	—	10x	as long as short