Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0206%/8h= −22.6% APRpaid last 24h −0.074%

Price spread now: Aster against Phoenix−0.057%115s7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Aster is 0.057% cheaper against Phoenix than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 115 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	Phoenix NFLX	73.973	0.0206	pay 0.0026% / 1h	17m 34s	$12K	$77K	10x
Short	Aster NFLXUSDT	73.931	0	get 0.0000% / 8h	2h 17m	$11K	$5K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phoenix. 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 PhoenixbpFee AsterbpOrdersPrice spread, now −0.057%Rate

Funding earned: −$43.27
Price spread: −0.057% → 0.000%: −$5.66
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$63.92
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Aster: 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 Phoenix no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

Phoenix and Aster: 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 NFLXUSDTshort	0.0000%	8h	73.931	−0.057%	$11K	$5K	20x
OKX NFLX-USDT-SWAP	0.0000%	8h	73.980	+0.009%	$884K	$825K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	73.900	−0.099%	$1.1M	$1.4M	10x	as long as short
Bitget NFLXUSDT	0.0000%	8h	73.920	−0.072%	$4.3M	$598K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.963	−0.014%	$1K	$4.6M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.971	−0.003%	$10K	$52K	20x	as long as short
Phemex NFLXUSDT	0.0000%	8h	73.960	−0.018%	$1.4M	$336K	10x	as long as short
Gate NFLX_USDT	+0.0040%	8h	74.020	+0.064%	$1.4M	$1.2M	25x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.920	−0.072%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.875	−0.132%	$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	73.884	−0.120%	$5.0M	$3.0M	10x	as long as short
Ondo Perps NFLX-USD.P	+0.0050%	1h	73.940	−0.045%	$66K	$142K	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.930	−0.058%	$152K	$38K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.963	−0.014%	$226	—	10x	as long as short
Variational Omni NFLX	+0.0112%	8h	73.997	+0.033%	$95K	$126K	—	as long as short
Binance NFLXUSDT	+0.0117%	8h	73.970	−0.004%	$5.4M	$5.5M	20x	as long as short
GRVT NFLX_USDT_Perp	+0.0158%	8h	73.978	+0.007%	$797	$141K	10x	as long as short
Phoenix NFLXlong	+0.0206%	1h	73.973	long leg	$12K	$77K	10x
Injective NFLX/USDC PERP	+0.0220%	1h	74.650	+0.915%	$83K	$104K	12x	as long as short
BloFin NFLX-USDT	+0.0238%	8h	73.990	+0.023%	$47K	$83K	20x	as long as short
Bybit NFLXUSDT	+0.0292%	8h	73.990	+0.023%	$1.3M	$903K	50x	as long as short