Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Phemex against Ondo Perps+0.122%7-day average +0.178% · you sell dearer than you buy

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

Long on Ondo Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 4 days (all we have)+0.136%+$14 · spread now +0.122%, 7d avg +0.178%

Together, before fees+0.100%+ Points / potential airdropOndo Perps: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.056% cheaper against Ondo Perps than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.178%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps NFLX-USD.P	73.870	0.0050	pay 0.0006% / 1h	16m 27s	$66K	$142K	10x
Short	Phemex NFLXUSDT	73.960	0	get 0.0000% / 8h	16m 27s	$1.4M	$345K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Ondo Perps. 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 Ondo PerpsbpFee PhemexbpOrdersPrice spread, now +0.122%Rate

Funding earned: −$10.58
Price spread: +0.122% → +0.178%: −$5.6
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$33.18
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Phemex: live order book, 1 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Phemex live order book, 1 min ago	4.06 bp	63.9 bp −$64	doesn't fit	doesn't fit	doesn't fit

Ondo Perps: 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	73.889	+0.026%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.950	+0.108%	$878K	$833K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	73.860	−0.014%	$1.1M	$1.4M	10x	as long as short
Bitget NFLXUSDT	0.0000%	8h	73.940	+0.095%	$4.2M	$596K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.940	+0.095%	$1K	$4.6M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.891	+0.028%	$10K	$52K	20x	as long as short
Phemex NFLXUSDTshort	0.0000%	8h	73.960	+0.122%	$1.4M	$345K	10x
Gate NFLX_USDT	+0.0016%	8h	73.970	+0.135%	$1.4M	$1.2M	25x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.870	0.000%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.864	−0.008%	$12K	$19K	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	+0.0050%	1h	73.871	+0.001%	$5.0M	$2.9M	10x	as long as short
Ondo Perps NFLX-USD.Plong	+0.0050%	1h	73.870	long leg	$66K	$142K	10x
KuCoin NFLXUSDTM	+0.0100%	8h	73.860	−0.014%	$151K	$42K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.939	+0.093%	$226	—	10x	as long as short
Variational Omni NFLX	+0.0114%	8h	73.917	+0.064%	$83K	$119K	—	as long as short
Binance NFLXUSDT	+0.0122%	8h	73.940	+0.095%	$5.4M	$5.6M	20x	as long as short
GRVT NFLX_USDT_Perp	+0.0203%	8h	73.940	+0.095%	$325	$136K	10x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	74.610	+1.002%	$83K	$117K	12x	as long as short
BloFin NFLX-USDT	+0.0242%	8h	73.950	+0.108%	$47K	$78K	20x	as long as short
Bybit NFLXUSDT	+0.0244%	8h	73.900	+0.041%	$1.3M	$886K	50x	as long as short
Phoenix NFLX	+0.0249%	1h	73.899	+0.039%	$12K	$77K	10x	as long as short