Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0238%/8h= +26.1% APRpaid last 24h +0.047%

Price spread now: Phoenix against OKX−0.027%66s7-day average — · you buy dearer than you sell

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

Long on OKX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.346%+$35 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 0.027% cheaper against OKX than usual: you would sell low and buy high (spread −0.027% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 9 hours of funding at the current rate (+$7 a day). The two prices were read 66 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	OKX NFLX-USDT-SWAP	74.110	0	get 0.0000% / 8h	6h 58m	$887K	$789K	20x
Short	Phoenix NFLX	74.090	0.0238	get 0.0030% / 1h	58m 23s	$12K	$76K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against OKX. 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 OKXbpFee PhoenixbpOrdersPrice spread, now −0.027%Rate

Funding earned: $50.02
Price spread: −0.027% → 0.000%: −$2.7
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $30.32
Costs to cover: 0.170%
Break-even: 2.8 days

Slippage unknown: OKX: live order book, 33 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 OKX live order book, 33 min ago	2.70 bp	18.3 bp −$18	doesn't fit	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 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 NFLXUSDT	0.0000%	8h	74.280	+0.229%	$12K	$5K	20x	as long as short
OKX NFLX-USDT-SWAPlong	0.0000%	8h	74.110	long leg	$887K	$789K	20x
QFEX NFLX-USD	0.0000%	1h	74.020	−0.121%	$1.1M	$1.4M	10x	as long as short
Gate NFLX_USDT	0.0000%	8h	74.110	0.000%	$1.4M	$1.1M	25x	as long as short
Bitget NFLXUSDT	0.0000%	8h	74.160	+0.067%	$4.2M	$624K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	74.106	−0.005%	$1K	$4.2M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	74.036	−0.100%	$10K	$52K	20x	as long as short
Phemex NFLXUSDT	0.0000%	8h	74.130	+0.027%	$1.4M	$343K	10x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	74.030	−0.108%	—	$21K	25x	as long as short
Ondo Perps NFLX-USD.P	+0.0050%	1h	74.050	−0.081%	$64K	$138K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:NFLX	+0.0083%	1h	74.013	−0.131%	$5.0M	$2.9M	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	74.080	−0.040%	$153K	$106K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	74.113	+0.004%	$227	—	10x	as long as short
Extended NFLX-USD	+0.0216%	1h	74.020	−0.121%	$12K	$19K	10x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	78.430	+5.829%	$87K	$126K	12x	as long as short
Phoenix NFLXshort	+0.0238%	1h	74.090	−0.027%	$12K	$76K	10x
Variational Omni NFLX	+0.0249%	8h	74.131	+0.029%	$76K	$124K	—	as long as short
Binance NFLXUSDT	+0.0255%	8h	74.110	0.000%	$5.4M	$5.6M	20x	as long as short
Bybit NFLXUSDT	+0.0338%	8h	74.150	+0.054%	$1.3M	$832K	50x	as long as short
BloFin NFLX-USDT	+0.0381%	8h	74.120	+0.013%	$47K	$82K	20x	as long as short
GRVT NFLX_USDT_Perp	+0.0787%	8h	74.130	+0.027%	$254	$123K	10x	as long as short