Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0138%/8h= −15.1% APRpaid last 24h −0.039%

Price spread now: KuCoin against Phoenix+0.100%63s7-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 KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.255%−$26 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. KuCoin is 0.100% dearer against Phoenix than usual: you sell high and buy low (spread +0.100% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.4 days. The two prices were read 63 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	73.856	0.0238	pay 0.0030% / 1h	6m 19s	$12K	$77K	10x
Short	KuCoin NFLXUSDTM	73.930	0.0100	get 0.0100% / 8h	5h 06m	$152K	$225K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.100%Rate

Funding earned: −$28.98
Price spread: +0.100% → 0.000%: $10.02
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$37.96
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; KuCoin: live order book, 21 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 KuCoin live order book, 21 min ago	18.26 bp	214.2 bp −$214	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 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	73.890	+0.046%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.930	+0.100%	$883K	$770K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	73.820	−0.049%	$1.1M	$1.3M	10x	as long as short
Bitget NFLXUSDT	0.0000%	8h	73.910	+0.073%	$4.2M	$620K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.952	+0.130%	$2K	$4.0M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	74.025	+0.229%	$10K	$52K	20x	as long as short
Phemex NFLXUSDT	0.0000%	8h	73.940	+0.114%	$1.4M	$344K	10x	as long as short
Gate NFLX_USDT	+0.0010%	8h	73.960	+0.141%	$1.4M	$1.1M	25x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.830	−0.035%	—	$21K	25x	as long as short
Ondo Perps NFLX-USD.P	+0.0050%	1h	73.790	−0.089%	$64K	$127K	10x	as long as short

Show all 21 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended NFLX-USD	+0.0088%	1h	73.854	−0.003%	$12K	$19K	10x	as long as short
tradeXYZ xyz:NFLX	+0.0091%	1h	73.873	+0.023%	$5.0M	$2.9M	10x	as long as short
KuCoin NFLXUSDTMshort	+0.0100%	8h	73.930	+0.100%	$152K	$225K	20x
Aevo NFLX-PERP	+0.0104%	1h	73.952	+0.130%	$226	—	10x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	78.270	+5.976%	$87K	$138K	12x	as long as short
Phoenix NFLXlong	+0.0238%	1h	73.856	long leg	$12K	$77K	10x
Variational Omni NFLX	+0.0295%	8h	73.943	+0.117%	$76K	$119K	—	as long as short
Binance NFLXUSDT	+0.0305%	8h	73.950	+0.127%	$5.4M	$5.6M	20x	as long as short
GRVT NFLX_USDT_Perp	+0.0362%	8h	73.969	+0.152%	$1K	$113K	10x	as long as short
BloFin NFLX-USDT	+0.0452%	8h	73.980	+0.168%	$48K	$82K	20x	as long as short
Bybit NFLXUSDT	+0.0468%	8h	74.000	+0.195%	$1.3M	$707K	50x	as long as short