Funding arb · Price arb /

PRL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0210%/8h= +23.0% APRpaid last 24h −0.034%

Price spread now: Coinbase International against KuCoin−0.471%7-day average — · you buy dearer than you sell

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

Long on KuCoin 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 0.471% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.471% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$47 on $10k: about 7.5 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PRLUSDTM	0.1174	0.0630	pay 0.0315% / 4h	45m 07s	$1.5M	$249K	20x
Short	Coinbase International PRL-PERP-INTX	0.1169	0.0840	get 0.0105% / 1h	45m 07s	$17K	$12K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.471%Rate

Funding earned: $44.1
Price spread: −0.471% → 0.000%: −$47.1
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$25
Costs to cover: 0.220%
Break-even: 11.0 days

Slippage unknown: KuCoin: live order book, 6 min ago; 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 KuCoin live order book, 6 min ago	11.10 bp	539.0 bp −$539	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

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
Gate PRL_USDT	+0.0100%	4h	0.1177	+0.221%	$99K	$65K	20x	as long as short
Bitget PRLUSDT	+0.0100%	4h	0.1176	+0.153%	$846K	$413K	20x	as long as short
SunX PRL-USDT	+0.0100%	4h	0.1171	−0.273%	$2K	$1.1M	20x	as long as short
MEXC PRL_USDT	+0.0606%	4h	0.1175	+0.068%	$463K	$172K	20x	as long as short
Binance PRLUSDT	+0.0620%	4h	0.1176	+0.153%	$2.1M	$2.4M	20x	as long as short
Extended PRL-USD	+0.0624%	1h	0.1176	+0.124%	$686	$150K	5x	as long as short
KuCoin PRLUSDTMlong	+0.0630%	4h	0.1174	long leg	$1.5M	$249K	20x
Aster PRLUSDT	+0.0704%	4h	0.1171	−0.273%	$6K	$1K	5x	as long as short
BingX PRL-USDT	+0.0804%	4h	0.1174	−0.017%	—	$1.6M	—	as long as short
Bybit PRLUSDT	+0.0807%	4h	0.1175	+0.068%	$738K	$571K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International PRL-PERP-INTXshort	+0.0840%	1h	0.1169	−0.471%	$17K	$12K	50x
BloFin PRL-USDT	+0.0842%	4h	0.1173	−0.102%	$136K	$14K	25x	as long as short
Deribit PRL_USDC-PERPETUAL	+0.1931%	1h	0.1176	+0.187%	—	—	10x	as long as short