Funding arb · Price arb /

PRL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0740%/8h= +81.0% APRpaid last 24h +0.103%

Price spread now: Coinbase International against SunX−0.539%7-day average — · you buy dearer than you sell

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

Long on SunX 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 0.539% cheaper against SunX than usual: you would sell low and buy high (spread −0.539% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$54 on $10k: about 2.4 days of funding at the current rate (+$22 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PRL-USDT	0.1175	0.0100	pay 0.0050% / 4h	4m 02s	$2K	$1.1M	20x
Short	Coinbase International PRL-PERP-INTX	0.1169	0.0840	get 0.0105% / 1h	4m 02s	$17K	$12K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.539%Rate

Funding earned: $155.4
Price spread: −0.539% → 0.000%: −$53.87
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $83.53
Costs to cover: 0.180%
Break-even: 3.2 days

Slippage unknown: SunX: live order book, 9 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 SunX live order book, 9 min ago	509.90 bp	doesn't fit	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
Bitget PRLUSDT	+0.0100%	4h	0.1177	+0.170%	$850K	$415K	20x	as long as short
SunX PRL-USDTlong	+0.0100%	4h	0.1175	long leg	$2K	$1.1M	20x
Gate PRL_USDT	+0.0104%	4h	0.1178	+0.264%	$99K	$65K	20x	as long as short
KuCoin PRLUSDTM	+0.0552%	4h	0.1177	+0.179%	$1.5M	$251K	20x	as long as short
Bybit PRLUSDT	+0.0590%	4h	0.1177	+0.170%	$733K	$579K	25x	as long as short
BingX PRL-USDT	+0.0650%	4h	0.1178	+0.255%	—	$1.6M	—	as long as short
BloFin PRL-USDT	+0.0655%	4h	0.1179	+0.340%	$139K	$14K	25x	as long as short
Extended PRL-USD	+0.0664%	1h	0.1178	+0.226%	$6K	$149K	5x	as long as short
Binance PRLUSDT	+0.0665%	4h	0.1178	+0.255%	$2.1M	$2.4M	20x	as long as short
MEXC PRL_USDT	+0.0666%	4h	0.1177	+0.170%	$461K	$175K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PRLUSDT	+0.0754%	4h	0.1175	−0.004%	$5K	$1K	5x	as long as short
Coinbase International PRL-PERP-INTXshort	+0.0840%	1h	0.1169	−0.539%	$17K	$12K	50x
Deribit PRL_USDC-PERPETUAL	+0.2305%	1h	0.1177	+0.178%	—	—	10x	as long as short