Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0174%/8h= +19.1% APRpaid last 24h +0.061%

Price spread now: Phoenix against Bitget−0.073%49s7-day average — · you buy dearer than you sell

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

Long on Bitget Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.444%+$44 on $10k

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. Phoenix is 0.073% cheaper against Bitget than usual: you would sell low and buy high (spread −0.073% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 34 hours of funding at the current rate (+$5 a day). The two prices were read 49 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	Bitget NFLXUSDT	73.600	0	get 0.0000% / 8h	6h 24m	$4.3M	$544K	50x
Short	Phoenix NFLX	73.546	0.0174	get 0.0022% / 1h	24m 31s	$12K	$77K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Bitget. 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 BitgetbpFee PhoenixbpOrdersPrice spread, now −0.073%Rate

Funding earned: $36.61
Price spread: −0.073% → 0.000%: −$7.34
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $10.27
Costs to cover: 0.190%
Break-even: 5.0 days

Slippage unknown: Bitget: live order book, 3 min ago; 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 Bitget live order book, 3 min ago	9.51 bp	16.9 bp −$17	22.7 bp −$227	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

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 20 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
QFEX NFLX-USD	0.0000%	1h	73.560	−0.054%	$1.1M	$1.5M	10x	as long as short
Aster NFLXUSDT	0.0000%	8h	73.528	−0.098%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.580	−0.027%	$879K	$866K	20x	as long as short
Gate NFLX_USDT	0.0000%	8h	73.660	+0.082%	$1.4M	$1.2M	25x	as long as short
Bitget NFLXUSDTlong	0.0000%	8h	73.600	long leg	$4.3M	$544K	50x
SunX NFLX-USDT	0.0000%	8h	73.619	+0.026%	$2K	$4.7M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.611	+0.015%	$10K	$52K	20x	as long as short
Phemex NFLXUSDT	0.0000%	8h	73.620	+0.027%	$1.4M	$323K	10x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.560	−0.054%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.537	−0.085%	$16K	$29K	10x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:NFLX	+0.0050%	1h	73.545	−0.075%	$5.0M	$2.9M	10x	as long as short
Ondo Perps NFLX-USD.P	+0.0050%	1h	73.530	−0.095%	$64K	$138K	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.570	−0.041%	$151K	$37K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.598	−0.002%	$225	—	10x	as long as short
GRVT NFLX_USDT_Perp	+0.0165%	8h	73.609	+0.013%	$666	$148K	10x	as long as short
Phoenix NFLXshort	+0.0174%	1h	73.546	−0.073%	$12K	$77K	10x
Bybit NFLXUSDT	+0.0204%	8h	73.610	+0.014%	$1.3M	$896K	50x	as long as short
Variational Omni NFLX	+0.0205%	8h	73.583	−0.023%	$94K	$130K	—	as long as short
Binance NFLXUSDT	+0.0212%	8h	73.634	+0.046%	$5.5M	$5.4M	20x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	74.260	+0.897%	$83K	$78K	12x	as long as short