Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0287%/8h= +31.4% APRpaid last 24h +0.131%

Price spread now: Bybit against QFEX+0.095%7-day average +0.216% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$620.617% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.219%+$22 on $10k

Price spread, last 7 days−0.028%−$3 · spread now +0.095%, 7d avg +0.216%

Together, before fees+0.192%+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.121% cheaper against QFEX than usual: you would sell low and buy high (spread +0.095% now, against its 7-day average of +0.216%). If the spread goes back, that is −$12 on $10k: about 34 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX NFLX-USD	73.900	0	get 0.0000% / 1h	13m 00s	$1.1M	$1.4M	10x
Short	Bybit NFLXUSDT	73.970	0.0287	get 0.0287% / 8h	2h 13m	$1.3M	$903K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against QFEX. 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 QFEXbpFee BybitbpOrdersPrice spread, now +0.095%Rate

Funding earned: $60.3
Price spread: +0.095% → +0.216%: −$12.09
Slippage, 4 orders: −$40.66
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$13.44
Costs to cover: 0.617%
Break-even: 8.6 days

Slippage from QFEX: live order book, 3 min ago; Bybit: live order book, 3 min ago.

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 QFEX live order book, 3 min ago	2.03 bp	7.3 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	4.73 bp	23.2 bp −$23	155.9 bp −$1,559	doesn't fit	doesn't fit

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	73.938	+0.052%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.970	+0.095%	$883K	$835K	20x	as long as short
QFEX NFLX-USDlong	0.0000%	1h	73.900	long leg	$1.1M	$1.4M	10x
Bitget NFLXUSDT	0.0000%	8h	73.920	+0.027%	$4.3M	$598K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	74.033	+0.180%	$2K	$4.6M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	74.077	+0.240%	$10K	$52K	20x	as long as short
Phemex NFLXUSDT	0.0000%	8h	74.010	+0.149%	$1.4M	$339K	10x	as long as short
Gate NFLX_USDT	+0.0036%	8h	74.040	+0.189%	$1.4M	$1.2M	25x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.910	+0.014%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.919	+0.026%	$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	73.914	+0.019%	$5.0M	$2.9M	10x	as long as short
Ondo Perps NFLX-USD.P	+0.0050%	1h	73.900	0.000%	$66K	$141K	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.940	+0.054%	$152K	$38K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.984	+0.114%	$226	—	10x	as long as short
Variational Omni NFLX	+0.0108%	8h	73.978	+0.105%	$95K	$126K	—	as long as short
Binance NFLXUSDT	+0.0114%	8h	74.018	+0.160%	$5.4M	$5.5M	20x	as long as short
GRVT NFLX_USDT_Perp	+0.0151%	8h	73.980	+0.108%	$641	$141K	10x	as long as short
Phoenix NFLX	+0.0206%	1h	73.949	+0.066%	$12K	$77K	10x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	78.350	+6.022%	$87K	$105K	12x	as long as short
BloFin NFLX-USDT	+0.0234%	8h	74.030	+0.176%	$47K	$83K	20x	as long as short
Bybit NFLXUSDTshort	+0.0287%	8h	73.970	+0.095%	$1.3M	$903K	50x