Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0311%/8h= −34.1% APRpaid last 24h −0.123%

Price spread now: QFEX against Bybit−0.135%7-day average −0.218% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$550.549% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.245%−$24 on $10k

Price spread, last 7 days+0.069%+$7 · spread now −0.135%, 7d avg −0.218%

Together, before fees−0.175%−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.083% dearer against Bybit than usual: you sell high and buy low (spread −0.135% now, against its 7-day average of −0.218%): +$8 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NFLXUSDT	74.060	0.0311	pay 0.0311% / 8h	6h 05m	$1.3M	$760K	50x
Short	QFEX NFLX-USD	73.960	0	get 0.0000% / 1h	5m 32s	$1.1M	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Bybit. 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 BybitbpFee QFEXbpOrdersPrice spread, now −0.135%Rate

Funding earned: −$65.38
Price spread: −0.135% → −0.218%: $8.26
Slippage, 4 orders: −$33.86
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$111.98
Costs to cover: 0.549%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; QFEX: live order book, 4 min ago.

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 Bybit live order book, 3 min ago	1.35 bp	10.8 bp −$11	124.7 bp −$1,247	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	2.70 bp	9.0 bp −$9	15.5 bp −$155	doesn't fit	doesn't fit

NFLX on 21 exchanges

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 NFLXUSDT	0.0000%	8h	74.008	−0.071%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	74.060	0.000%	$885K	$770K	20x	as long as short
QFEX NFLX-USDshort	0.0000%	1h	73.960	−0.135%	$1.1M	$1.4M	10x
Bitget NFLXUSDT	0.0000%	8h	74.000	−0.081%	$4.2M	$625K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	74.091	+0.042%	$1K	$4.1M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	74.061	+0.001%	$10K	$52K	20x	as long as short
Phemex NFLXUSDT	0.0000%	8h	74.110	+0.068%	$1.4M	$340K	10x	as long as short
Gate NFLX_USDT	+0.0004%	8h	74.050	−0.014%	$1.4M	$1.1M	25x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.950	−0.149%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.963	−0.131%	$12K	$19K	10x	as long as short

Show all 21 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:NFLX	+0.0050%	1h	73.911	−0.201%	$5.0M	$2.9M	10x	as long as short
Ondo Perps NFLX-USD.P	+0.0050%	1h	74.070	+0.014%	$64K	$130K	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	74.040	−0.027%	$152K	$162K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	74.092	+0.043%	$227	—	10x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	74.800	+0.999%	$83K	$131K	12x	as long as short
Phoenix NFLX	+0.0227%	1h	74.099	+0.053%	$12K	$77K	10x	as long as short
Bybit NFLXUSDTlong	+0.0311%	8h	74.060	long leg	$1.3M	$760K	50x
Variational Omni NFLX	+0.0316%	8h	74.083	+0.031%	$76K	$122K	—	as long as short
Binance NFLXUSDT	+0.0320%	8h	74.038	−0.030%	$5.4M	$5.5M	20x	as long as short
BloFin NFLX-USDT	+0.0477%	8h	74.180	+0.162%	$423	$82K	20x	as long as short
GRVT NFLX_USDT_Perp	+0.0626%	8h	74.179	+0.161%	$254	$117K	10x	as long as short