Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0174%/8h= +19.1% APRpaid last 24h +0.079%

Price spread now: Phoenix against Phemex−0.080%73s7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.463%+$46 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 0.080% cheaper against Phemex than usual: you would sell low and buy high (spread −0.080% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 37 hours of funding at the current rate (+$5 a day). The two prices were read 73 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	73.660	0	get 0.0000% / 8h	5h 58m	$1.4M	$324K	10x
Short	Phoenix NFLX	73.601	0.0174	get 0.0022% / 1h	58m 19s	$12K	$76K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.080%Rate

Funding earned: $36.61
Price spread: −0.080% → 0.000%: −$8.01
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $9.6
Costs to cover: 0.190%
Break-even: 5.2 days

Slippage unknown: Phemex: live order book, 4 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 Phemex live order book, 4 min ago	2.71 bp	36.5 bp −$36	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 20 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	73.585	−0.102%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.690	+0.041%	$881K	$867K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	73.580	−0.109%	$1.1M	$1.4M	10x	as long as short
Gate NFLX_USDT	0.0000%	8h	73.700	+0.054%	$1.4M	$1.1M	25x	as long as short
Bitget NFLXUSDT	0.0000%	8h	73.660	0.000%	$4.3M	$544K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.663	+0.004%	$1K	$4.7M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.635	−0.034%	$10K	$52K	20x	as long as short
Phemex NFLXUSDTlong	0.0000%	8h	73.660	long leg	$1.4M	$324K	10x
Vest NFLX-USD-PERP	+0.0046%	1h	73.580	−0.109%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.607	−0.072%	$16K	$29K	10x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:NFLX	+0.0048%	1h	73.613	−0.064%	$5.0M	$2.9M	10x	as long as short
Ondo Perps NFLX-USD.P	+0.0050%	1h	73.610	−0.068%	$64K	$143K	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.600	−0.081%	$151K	$37K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.651	−0.013%	$225	—	10x	as long as short
Phoenix NFLXshort	+0.0174%	1h	73.601	−0.080%	$12K	$76K	10x
Variational Omni NFLX	+0.0209%	8h	73.682	+0.030%	$94K	$130K	—	as long as short
Binance NFLXUSDT	+0.0214%	8h	73.650	−0.014%	$5.5M	$5.4M	20x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	73.020	−0.869%	$81K	$81K	12x	as long as short
GRVT NFLX_USDT_Perp	+0.0245%	8h	73.672	+0.016%	$337	$146K	10x	as long as short
Bybit NFLXUSDT	+0.0262%	8h	73.640	−0.027%	$1.3M	$899K	50x	as long as short