Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0029%/8h= −3.2% APRpaid last 24h −0.016%

Price spread now: Variational Omni against Phoenix+0.036%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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.036% dearer against Phoenix than usual: you sell high and buy low (spread +0.036% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix NFLX	73.484	0.0207	pay 0.0026% / 1h	49m 18s	$12K	$77K	10x
Short	Variational Omni NFLX	73.511	0.0178	get 0.0178% / 8h	49m 18s	$120K	$106K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.036%Rate

Funding earned: −$6.09
Price spread: +0.036% → 0.000%: $3.65
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$9.45
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Variational Omni: RFQ quote, 30 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 Variational Omni RFQ quote, 30 min ago	2.89 bp	doesn't fit	38.9 bp −$389	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	73.462	−0.030%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.490	+0.008%	$872K	$991K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	73.460	−0.033%	$1.1M	$1.5M	10x	as long as short
Gate NFLX_USDT	0.0000%	8h	73.540	+0.076%	$1.3M	$1.2M	25x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.522	+0.052%	$1K	$5.0M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.480	−0.005%	$10K	$52K	20x	as long as short
Phemex NFLXUSDT	0.0000%	8h	73.530	+0.063%	$1.4M	$330K	10x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.420	−0.087%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.435	−0.067%	$16K	$29K	10x	as long as short
tradeXYZ xyz:NFLX	+0.0050%	1h	73.438	−0.063%	$5.1M	$3.1M	10x	as long as short

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	73.370	−0.155%	$68K	$172K	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.480	−0.005%	$152K	$37K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.523	+0.053%	$225	—	10x	as long as short
Bitget NFLXUSDT	+0.0123%	8h	73.530	+0.063%	$4.2M	$645K	50x	as long as short
Variational Omni NFLXshort	+0.0178%	8h	73.511	+0.036%	$120K	$106K	—
Binance NFLXUSDT	+0.0182%	8h	73.523	+0.052%	$5.4M	$5.4M	20x	as long as short
Phoenix NFLXlong	+0.0207%	1h	73.484	long leg	$12K	$77K	10x
Injective NFLX/USDC PERP	+0.0220%	1h	74.180	+0.947%	$83K	$63K	12x	as long as short
GRVT NFLX_USDT_Perp	+0.0301%	8h	73.520	+0.049%	$502	$156K	10x	as long as short
BloFin NFLX-USDT	+0.0302%	8h	73.540	+0.076%	$46K	$82K	20x	as long as short
Bybit NFLXUSDT	+0.0388%	8h	73.540	+0.076%	$1.3M	$993K	50x	as long as short