Funding arb · Price arb /

PRL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0132%/8h= −14.5% APRpaid last 24h −0.052%

Price spread now: Coinbase International against MEXC−0.960%7-day average — · you buy dearer than you sell

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

Long on MEXC 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

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Coinbase International is 0.960% cheaper against MEXC than usual: you would sell low and buy high (−$96 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PRL_USDT	0.1180	0.0716	pay 0.0358% / 4h	3h 08m	$462K	$175K	20x
Short	Coinbase International PRL-PERP-INTX	0.1169	0.0584	get 0.0073% / 1h	8m 20s	$17K	$12K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against MEXC. 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 MEXCbpFee Coinbase InternationalbpOrdersPrice spread, now −0.960%Rate

Funding earned: −$27.72
Price spread: −0.960% → 0.000%: −$96.02
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$137.74
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 36 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 MEXC live order book, 36 min ago	4.24 bp	25.1 bp −$25	86.0 bp −$860	345.0 bp −$34.5K	923.2 bp −$461.6K
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
Bybit PRLUSDT	+0.0100%	4h	0.1182	+0.169%	$730K	$584K	25x	as long as short
Bitget PRLUSDT	+0.0100%	4h	0.1179	−0.085%	$847K	$418K	20x	as long as short
SunX PRL-USDT	+0.0100%	4h	0.1179	−0.085%	$1K	$1.1M	20x	as long as short
BloFin PRL-USDT	+0.0144%	4h	0.1182	+0.169%	$139K	$14K	25x	as long as short
Gate PRL_USDT	+0.0268%	4h	0.1182	+0.169%	$100K	$65K	20x	as long as short
Coinbase International PRL-PERP-INTXshort	+0.0584%	1h	0.1169	−0.960%	$17K	$12K	50x
KuCoin PRLUSDTM	+0.0592%	4h	0.1181	+0.059%	$1.5M	$264K	20x	as long as short
BingX PRL-USDT	+0.0670%	4h	0.1181	+0.085%	—	$1.6M	—	as long as short
MEXC PRL_USDTlong	+0.0716%	4h	0.1180	long leg	$462K	$175K	20x
Binance PRLUSDT	+0.0717%	4h	0.1181	+0.085%	$2.1M	$2.4M	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended PRL-USD	+0.0720%	1h	0.1181	+0.057%	$693	$171K	5x	as long as short
Aster PRLUSDT	+0.0790%	4h	0.1180	+0.037%	$5K	$1K	5x	as long as short
Deribit PRL_USDC-PERPETUAL	+0.2024%	1h	0.1181	+0.100%	—	—	10x	as long as short