Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.021%

Price spread now: tradeXYZ against Phemex−0.116%7-day average −0.153% · you buy dearer than you sell

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1221.221% of the position

Long on Phemex Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.147%+$15 on $10k

Price spread, last 3 days (all we have)−0.051%−$5 · spread now −0.116%, 7d avg −0.153%

Together, before fees+0.097%+ Points / potential airdroptradeXYZ: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and tradeXYZ is 0.037% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.153%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NFLXUSDT	73.510	0	get 0.0000% / 8h	14m 14s	$1.4M	$333K	10x
Short	tradeXYZ xyz:NFLX	73.425	0.0050	get 0.0006% / 1h	14m 14s	$5.0M	$3.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.116%Rate

Funding earned: $10.5
Price spread: −0.116% → −0.153%: $3.7
Slippage, 4 orders: −$92.12
Fee Phemex: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$107.92
Costs to cover: 1.221%
Break-even: 78.9 days

Slippage from Phemex: live order book, 4 min ago; tradeXYZ: live order book, 4 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, 4 min ago	3.40 bp	56.6 bp −$57	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 4 min ago	1.70 bp	11.2 bp −$11	doesn't fit	doesn't fit	doesn't fit

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	73.438	−0.098%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.470	−0.054%	$872K	$989K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	73.450	−0.082%	$1.1M	$1.5M	10x	as long as short
Gate NFLX_USDT	0.0000%	8h	73.530	+0.027%	$1.3M	$1.2M	25x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.498	−0.016%	$2K	$5.0M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.458	−0.071%	$10K	$52K	20x	as long as short
Phemex NFLXUSDTlong	0.0000%	8h	73.510	long leg	$1.4M	$333K	10x
Vest NFLX-USD-PERP	+0.0046%	1h	73.440	−0.095%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.428	−0.112%	$16K	$29K	10x	as long as short
tradeXYZ xyz:NFLXshort	+0.0050%	1h	73.425	−0.116%	$5.0M	$3.0M	10x

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	73.440	−0.095%	$71K	$186K	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.440	−0.095%	$152K	$37K	20x	as long as short
Bitget NFLXUSDT	+0.0104%	8h	73.490	−0.027%	$4.3M	$689K	50x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.496	−0.019%	$225	—	10x	as long as short
Variational Omni NFLX	+0.0202%	8h	73.484	−0.035%	$90K	$136K	—	as long as short
Binance NFLXUSDT	+0.0205%	8h	73.506	−0.005%	$5.4M	$5.5M	20x	as long as short
Phoenix NFLX	+0.0207%	1h	73.453	−0.078%	$12K	$77K	10x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	77.820	+5.863%	$87K	$67K	12x	as long as short
GRVT NFLX_USDT_Perp	+0.0302%	8h	73.510	0.000%	$809	$155K	10x	as long as short
BloFin NFLX-USDT	+0.0342%	8h	73.530	+0.027%	$46K	$82K	20x	as long as short
Bybit NFLXUSDT	+0.0404%	8h	73.540	+0.041%	$1.3M	$969K	50x	as long as short