PRL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0251%/8h= +27.5% APRnext payment +$1.26 per $10,000 · paid last 24h −0.063%

Price spread now: Bybit against KuCoin−0.085%7-day average +0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,028as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,054as in the Price arb table

costs, in and out, $10k−$1,03710.370% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.085%+$8 on $10k

Price spread, last 4 days (all we have)+0.273%+$27 · spread now −0.085%, 7d avg +0.080%

Together, before fees+0.357%+$36 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.166% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.085% now, against its 7-day average of +0.080%). If the spread goes back, that is −$17 on $10k: about 2.2 days of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.085% in total) that is about 14 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.085% in total (about 4.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.26 per $10,000. 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	KuCoin PRLUSDTM	0.1171	0.0594	pay 0.0297% / 4h	49m 38s	$1.5M	$247K	20x
Short	Bybit PRLUSDT	0.1170	0.0845	get 0.0423% / 4h	49m 38s	$761K	$554K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now −0.085%Rate

Funding earned: $52.77
Price spread: −0.085% → +0.080%: −$16.59
Slippage, 4 orders: −$1,013.96
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$1,000.78
Costs to cover: 10.370%
Break-even: 139.8 days

Slippage from KuCoin: live order book, 6 min ago; Bybit: live order book, 5 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 KuCoin live order book, 6 min ago	8.53 bp	246.4 bp −$246	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	4.26 bp	119.2 bp −$119	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
Gate PRL_USDT	+0.0100%	4h	0.1174	+0.231%	$99K	$65K	20x	as long as short
Bitget PRLUSDT	+0.0100%	4h	0.1170	−0.085%	$835K	$402K	20x	as long as short
SunX PRL-USDT	+0.0100%	4h	0.1169	−0.171%	$1K	$1.1M	20x	as long as short
MEXC PRL_USDT	+0.0590%	4h	0.1171	0.000%	$463K	$171K	20x	as long as short
Extended PRL-USD	+0.0592%	1h	0.1171	−0.027%	$686	$152K	5x	as long as short
Binance PRLUSDT	+0.0594%	4h	0.1171	0.000%	$2.1M	$2.3M	20x	as long as short
KuCoin PRLUSDTMlong	+0.0594%	4h	0.1171	long leg	$1.5M	$247K	20x
Aster PRLUSDT	+0.0686%	4h	0.1171	−0.027%	$6K	$614	5x	as long as short
BloFin PRL-USDT	+0.0807%	4h	0.1172	+0.085%	$136K	$14K	25x	as long as short
Coinbase International PRL-PERP-INTX	+0.0840%	1h	0.1171	+0.013%	$17K	$12K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PRLUSDTshort	+0.0845%	4h	0.1170	−0.085%	$761K	$554K	25x
BingX PRL-USDT	+0.0870%	4h	0.1171	0.000%	—	$1.6M	—	as long as short
Deribit PRL_USDC-PERPETUAL	+0.1401%	1h	0.1171	−0.031%	—	—	10x	as long as short