Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0238%/8h= −26.1% APRpaid last 24h −0.069%

Price spread now: Gate against Phoenix+0.089%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.459%−$46 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Gate is 0.089% dearer against Phoenix than usual: you sell high and buy low (spread +0.089% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 30 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix NFLX	74.104	0.0238	pay 0.0030% / 1h	13m 21s	$12K	$77K	10x
Short	Gate NFLX_USDT	74.170	0	get 0.0000% / 8h	7h 13m	$1.4M	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.089%Rate

Funding earned: −$50.02
Price spread: +0.089% → 0.000%: $8.91
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$63.11
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Gate: live order book, 4 min ago. 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 Gate live order book, 4 min ago	8.76 bp	72.4 bp −$72	doesn't fit	doesn't fit	doesn't fit

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 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	74.087	−0.023%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	74.090	−0.019%	$887K	$794K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	74.070	−0.046%	$1.1M	$1.3M	10x	as long as short
Gate NFLX_USDTshort	0.0000%	8h	74.170	+0.089%	$1.4M	$1.1M	25x
Bitget NFLXUSDT	0.0000%	8h	74.150	+0.062%	$4.2M	$621K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	74.145	+0.055%	$2K	$4.2M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	74.247	+0.193%	$10K	$52K	20x	as long as short
Phemex NFLXUSDT	0.0000%	8h	74.160	+0.076%	$1.4M	$345K	10x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	74.100	−0.005%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	74.075	−0.039%	$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	74.086	−0.024%	$5.0M	$2.9M	10x	as long as short
Ondo Perps NFLX-USD.P	+0.0050%	1h	74.020	−0.113%	$64K	$140K	10x	as long as short
Bybit NFLXUSDT	+0.0056%	8h	74.210	+0.143%	$1.3M	$833K	50x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	74.140	+0.049%	$152K	$90K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	74.146	+0.057%	$227	—	10x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	74.870	+1.034%	$83K	$124K	12x	as long as short
Variational Omni NFLX	+0.0228%	8h	74.214	+0.149%	$84K	$118K	—	as long as short
Phoenix NFLXlong	+0.0238%	1h	74.104	long leg	$12K	$77K	10x
Binance NFLXUSDT	+0.0239%	8h	74.140	+0.049%	$5.4M	$5.6M	20x	as long as short
BloFin NFLX-USDT	+0.0362%	8h	74.210	+0.143%	$47K	$80K	20x	as long as short
GRVT NFLX_USDT_Perp	+0.0993%	8h	74.184	+0.108%	$257	$125K	10x	as long as short