Funding arb · Price arb /

PRL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.2220%/8h= +243.1% APRpaid last 24h —

Price spread now: Deribit against Gate−0.055%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 Deribit

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

Funding pays, the price is against you. Deribit is 0.055% cheaper against Gate than usual: you would sell low and buy high (spread −0.055% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 2 hours of funding at the current rate (+$67 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PRL_USDT	0.1183	0.0100	pay 0.0050% / 4h	14m 47s	$100K	$61K	20x
Short	Deribit PRL_USDC-PERPETUAL	0.1182	0.2320	get 0.0290% / 1h	14m 47s	—	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.055%Rate

Funding earned: $466.23
Price spread: −0.055% → 0.000%: −$5.5
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $438.74
Costs to cover: 0.220%
Break-even: 0.4 days

Slippage unknown: Gate: live order book, 27 min ago; Deribit: 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 live order book, 27 min ago	19.00 bp	316.7 bp −$317	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

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
BloFin PRL-USDT	+0.0045%	4h	0.1182	−0.051%	$137K	$14K	25x	as long as short
Bybit PRLUSDT	+0.0100%	4h	0.1182	−0.051%	$737K	$592K	25x	as long as short
Gate PRL_USDTlong	+0.0100%	4h	0.1183	long leg	$100K	$61K	20x
KuCoin PRLUSDTM	+0.0100%	4h	0.1181	−0.178%	$1.5M	$270K	20x	as long as short
Bitget PRLUSDT	+0.0100%	4h	0.1182	−0.051%	$850K	$398K	20x	as long as short
SunX PRL-USDT	+0.0100%	4h	0.1180	−0.220%	$1K	$1.1M	20x	as long as short
Aster PRLUSDT	+0.0367%	4h	0.1180	−0.196%	$5K	$1K	5x	as long as short
BingX PRL-USDT	+0.0368%	4h	0.1181	−0.135%	—	$1.6M	—	as long as short
Coinbase International PRL-PERP-INTX	+0.0368%	1h	0.1179	−0.287%	$17K	$12K	50x	as long as short
MEXC PRL_USDT	+0.0374%	4h	0.1181	−0.135%	$502K	$167K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PRLUSDT	+0.0375%	4h	0.1182	−0.058%	$2.1M	$2.4M	20x	as long as short
Extended PRL-USD	+0.0376%	1h	0.1181	−0.130%	$773	$215K	5x	as long as short
Deribit PRL_USDC-PERPETUALshort	+0.2320%	1h	0.1182	−0.055%	—	—	10x