Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h −0.022%

Price spread now: Injective against Phemex+0.898%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.146%−$15 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Injective is 0.898% dearer against Phemex than usual: you sell high and buy low: +$90 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.146%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.146% in total (about -7.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NFLXUSDT	73.510	0	get 0.0000% / 8h	7h 32m	$1.4M	$330K	10x
Short	Injective NFLX/USDC PERP	74.170	0.0220	get 0.0028% / 1h	32m 30s	$83K	$71K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Phemex. 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 PhemexbpFee InjectivebpOrdersPrice spread, now +0.898%Rate

Funding earned: $46.2
Price spread: +0.898% → 0.000%: $89.78
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $123.96
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Phemex: live order book, 5 min ago; Injective: 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 Phemex live order book, 5 min ago	1.36 bp	56.8 bp −$57	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	73.472	−0.052%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.480	−0.041%	$884K	$951K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	73.470	−0.054%	$1.1M	$1.5M	10x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.503	−0.010%	$1K	$4.9M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.526	+0.022%	$10K	$52K	20x	as long as short
Phemex NFLXUSDTlong	0.0000%	8h	73.510	long leg	$1.4M	$330K	10x
Bitget NFLXUSDT	+0.0036%	8h	73.550	+0.054%	$4.3M	$573K	50x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.460	−0.068%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.448	−0.084%	$16K	$29K	10x	as long as short
tradeXYZ xyz:NFLX	+0.0050%	1h	73.450	−0.082%	$5.0M	$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	73.470	−0.054%	$64K	$178K	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.460	−0.068%	$152K	$37K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.507	−0.004%	$225	—	10x	as long as short
Gate NFLX_USDT	+0.0171%	8h	73.530	+0.027%	$1.3M	$1.2M	25x	as long as short
Injective NFLX/USDC PERPshort	+0.0220%	1h	74.170	+0.898%	$83K	$71K	12x
Variational Omni NFLX	+0.0221%	8h	73.504	−0.009%	$94K	$139K	—	as long as short
Binance NFLXUSDT	+0.0226%	8h	73.527	+0.023%	$5.4M	$5.4M	20x	as long as short
Phoenix NFLX	+0.0229%	1h	73.470	−0.054%	$12K	$77K	10x	as long as short
GRVT NFLX_USDT_Perp	+0.0287%	8h	73.517	+0.009%	$877	$152K	10x	as long as short
BloFin NFLX-USDT	+0.0376%	8h	73.490	−0.027%	$46K	$82K	20x	as long as short
Bybit NFLXUSDT	+0.0485%	8h	73.550	+0.054%	$1.3M	$919K	50x	as long as short