Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0250%/8h= +27.4% APRpaid last 24h +0.074%

Price spread now: Phoenix against Aster+0.028%45s7-day average — · you sell dearer than you buy

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

Long on Aster Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Phoenix is 0.028% dearer against Aster than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster NFLXUSDT	73.723	0	get 0.0000% / 8h	2h 56m	$11K	$5K	20x
Short	Phoenix NFLX	73.744	0.0250	get 0.0031% / 1h	56m 37s	$12K	$77K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Aster. 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 AsterbpFee PhoenixbpOrdersPrice spread, now +0.028%Rate

Funding earned: $52.53
Price spread: +0.028% → 0.000%: $2.84
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $40.37
Costs to cover: 0.150%
Break-even: 1.6 days

Slippage unknown: Aster: no order-book sample; Phoenix: 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 Aster no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

Aster and Phoenix: 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.

NFLX on 21 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
Aster NFLXUSDTlong	0.0000%	8h	73.723	long leg	$11K	$5K	20x
OKX NFLX-USDT-SWAP	0.0000%	8h	73.790	+0.091%	$881K	$821K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	73.740	+0.023%	$1.1M	$1.4M	10x	as long as short
Bitget NFLXUSDT	0.0000%	8h	73.760	+0.050%	$4.3M	$574K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.803	+0.108%	$2K	$4.6M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.764	+0.055%	$10K	$52K	20x	as long as short
Phemex NFLXUSDT	0.0000%	8h	73.750	+0.037%	$1.4M	$328K	10x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.750	+0.037%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.702	−0.029%	$16K	$29K	10x	as long as short
tradeXYZ xyz:NFLX	+0.0050%	1h	73.698	−0.034%	$4.9M	$2.9M	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps NFLX-USD.P	+0.0050%	1h	73.720	−0.004%	$65K	$141K	10x	as long as short
Gate NFLX_USDT	+0.0058%	8h	73.820	+0.131%	$1.4M	$1.2M	25x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.730	+0.009%	$152K	$38K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.787	+0.087%	$226	—	10x	as long as short
Binance NFLXUSDT	+0.0127%	8h	73.783	+0.081%	$5.4M	$5.4M	20x	as long as short
Variational Omni NFLX	+0.0128%	8h	73.777	+0.073%	$97K	$131K	—	as long as short
GRVT NFLX_USDT_Perp	+0.0155%	8h	73.776	+0.072%	$441	$141K	10x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	78.150	+6.005%	$87K	$100K	12x	as long as short
BloFin NFLX-USDT	+0.0248%	8h	73.810	+0.118%	$47K	$83K	20x	as long as short
Phoenix NFLXshort	+0.0250%	1h	73.744	+0.028%	$12K	$77K	10x
Bybit NFLXUSDT	+0.0330%	8h	73.800	+0.104%	$1.3M	$885K	50x	as long as short