Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0227%/8h= −24.8% APRpaid last 24h −0.046%

Price spread now: OKX against Phoenix+0.229%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 OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.345%−$34 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. OKX is 0.229% dearer against Phoenix than usual: you sell high and buy low (spread +0.229% now, against zero (this spread has no 7-day history yet)): +$23 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix NFLX	73.921	0.0227	pay 0.0028% / 1h	55m 28s	$12K	$77K	10x
Short	OKX NFLX-USDT-SWAP	74.090	0	get 0.0000% / 8h	5h 55m	$886K	$773K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.229%Rate

Funding earned: −$47.64
Price spread: +0.229% → 0.000%: $22.86
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$41.78
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Phoenix: no order-book sample; OKX: live order book, 53 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 OKX live order book, 53 min ago	3.37 bp	14.0 bp −$14	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	73.997	+0.103%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAPshort	0.0000%	8h	74.090	+0.229%	$886K	$773K	20x
QFEX NFLX-USD	0.0000%	1h	73.960	+0.053%	$1.1M	$1.4M	10x	as long as short
Gate NFLX_USDT	0.0000%	8h	74.080	+0.215%	$1.4M	$1.1M	25x	as long as short
Bitget NFLXUSDT	0.0000%	8h	73.960	+0.053%	$4.2M	$625K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	74.073	+0.206%	$1K	$4.0M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.902	−0.026%	$10K	$52K	20x	as long as short
Phemex NFLXUSDT	0.0000%	8h	74.060	+0.188%	$1.4M	$342K	10x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.970	+0.066%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.971	+0.067%	$12K	$19K	10x	as long as short

Show all 21 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:NFLX	+0.0050%	1h	73.983	+0.084%	$5.0M	$2.9M	10x	as long as short
Ondo Perps NFLX-USD.P	+0.0050%	1h	73.890	−0.042%	$64K	$127K	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	74.020	+0.134%	$152K	$173K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	74.030	+0.147%	$227	—	10x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	78.380	+6.032%	$87K	$132K	12x	as long as short
Bybit NFLXUSDT	+0.0222%	8h	74.120	+0.269%	$1.3M	$759K	50x	as long as short
Phoenix NFLXlong	+0.0227%	1h	73.921	long leg	$12K	$77K	10x
Binance NFLXUSDT	+0.0297%	8h	74.070	+0.202%	$5.4M	$5.5M	20x	as long as short
Variational Omni NFLX	+0.0300%	8h	74.026	+0.142%	$76K	$122K	—	as long as short
BloFin NFLX-USDT	+0.0452%	8h	74.050	+0.175%	$424	$82K	20x	as long as short
GRVT NFLX_USDT_Perp	+0.0518%	8h	74.006	+0.115%	$257	$115K	10x	as long as short