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: Extended against Gate−0.221%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 Extended

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

Funding pays, the price is against you. Extended is 0.221% cheaper against Gate than usual: you would sell low and buy high (spread −0.221% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$22 on $10k: about 47 hours of funding at the current rate (+$11 a day).

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	Gate PRL_USDT	0.1175	0.0100	pay 0.0050% / 4h	2h 32m	$99K	$63K	20x
Short	Extended PRL-USD	0.1172	0.0480	get 0.0060% / 1h	32m 46s	$2K	$157K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.221%Rate

Funding earned: $79.8
Price spread: −0.221% → 0.000%: −$22.14
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $37.66
Costs to cover: 0.200%
Break-even: 3.7 days

Slippage unknown: Gate: no order-book sample; Extended: live order book, 33 min ago. 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 Extended live order book, 33 min ago	5.08 bp	52.5 bp −$52	doesn't fit	doesn't fit	doesn't fit

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_USDTlong	+0.0100%	4h	0.1175	long leg	$99K	$63K	20x
Bitget PRLUSDT	+0.0100%	4h	0.1173	−0.162%	$838K	$403K	20x	as long as short
SunX PRL-USDT	+0.0100%	4h	0.1172	−0.247%	$1K	$1.1M	20x	as long as short
Coinbase International PRL-PERP-INTX	+0.0272%	1h	0.1184	+0.762%	$17K	$12K	50x	as long as short
KuCoin PRLUSDTM	+0.0432%	4h	0.1172	−0.255%	$1.5M	$261K	20x	as long as short
MEXC PRL_USDT	+0.0476%	4h	0.1172	−0.247%	$466K	$172K	20x	as long as short
Binance PRLUSDT	+0.0477%	4h	0.1173	−0.143%	$2.1M	$2.4M	20x	as long as short
Extended PRL-USDshort	+0.0480%	1h	0.1172	−0.221%	$2K	$157K	5x
Aster PRLUSDT	+0.0534%	4h	0.1172	−0.244%	$6K	$614	5x	as long as short
BingX PRL-USDT	+0.0847%	4h	0.1172	−0.247%	—	$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	+0.0964%	4h	0.1175	+0.009%	$782K	$549K	25x	as long as short
Deribit PRL_USDC-PERPETUAL	+0.2640%	1h	0.1173	−0.152%	—	—	10x	as long as short