Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.024%

Price spread now: OKX against Phemex−0.149%53s7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1471.473% of the position

Long on Phemex Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.121%+$12 on $10k

Price spread, last 4 days (all we have)+0.088%+$9 · spread now −0.149%, 7d avg −0.015%

Together, before fees+0.209%+$21 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.134% cheaper against Phemex than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.015%. The two prices were read 53 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	Phemex NFLXUSDT	74.000	0	get 0.0000% / 8h	5h 49m	$1.4M	$343K	10x
Short	OKX NFLX-USDT-SWAP	73.890	0	get 0.0000% / 8h	5h 49m	$883K	$771K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.149%Rate

Funding earned: $0
Price spread: −0.149% → −0.015%: −$13.39
Slippage, 4 orders: −$125.34
Fee Phemex: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$160.73
Costs to cover: 1.473%
Break-even: never at this rate

Slippage from Phemex: live order book, 1 min ago; OKX: live order book, 60 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 Phemex live order book, 1 min ago	1.35 bp	51.6 bp −$52	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 60 min ago	3.37 bp	14.0 bp −$14	doesn't fit	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	73.923	−0.104%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAPshort	0.0000%	8h	73.890	−0.149%	$883K	$771K	20x
QFEX NFLX-USD	0.0000%	1h	73.800	−0.270%	$1.1M	$1.4M	10x	as long as short
Gate NFLX_USDT	0.0000%	8h	73.940	−0.081%	$1.4M	$1.1M	25x	as long as short
Bitget NFLXUSDT	0.0000%	8h	73.910	−0.122%	$4.2M	$625K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.942	−0.078%	$1K	$4.0M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.941	−0.080%	$10K	$52K	20x	as long as short
Phemex NFLXUSDTlong	0.0000%	8h	74.000	long leg	$1.4M	$343K	10x
Vest NFLX-USD-PERP	+0.0046%	1h	73.830	−0.230%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.820	−0.244%	$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	73.849	−0.204%	$5.0M	$2.9M	10x	as long as short
Ondo Perps NFLX-USD.P	+0.0050%	1h	73.890	−0.149%	$64K	$127K	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.870	−0.176%	$152K	$179K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.955	−0.061%	$226	—	10x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	74.710	+0.959%	$83K	$133K	12x	as long as short
Phoenix NFLX	+0.0238%	1h	73.963	−0.050%	$12K	$77K	10x	as long as short
Bybit NFLXUSDT	+0.0278%	8h	73.970	−0.041%	$1.3M	$754K	50x	as long as short
Binance NFLXUSDT	+0.0292%	8h	73.930	−0.095%	$5.4M	$5.6M	20x	as long as short
Variational Omni NFLX	+0.0296%	8h	74.011	+0.015%	$76K	$122K	—	as long as short
BloFin NFLX-USDT	+0.0375%	8h	74.050	+0.068%	$423	$82K	20x	as long as short
GRVT NFLX_USDT_Perp	+0.0472%	8h	74.040	+0.054%	$257	$115K	10x	as long as short