Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0229%/8h= +25.0% APRpaid last 24h +0.081%

Price spread now: Phoenix against SunX−0.045%69s7-day average — · you buy dearer than you sell

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

Long on SunX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.461%+$46 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.045% cheaper against SunX than usual: you would sell low and buy high (spread −0.045% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 16 hours of funding at the current rate (+$7 a day). The two prices were read 69 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	SunX NFLX-USDT	73.513	0	get 0.0000% / 8h	7h 37m	$2K	$5.0M	10x
Short	Phoenix NFLX	73.480	0.0229	get 0.0029% / 1h	37m 55s	$12K	$77K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against SunX. 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 SunXbpFee PhoenixbpOrdersPrice spread, now −0.045%Rate

Funding earned: $48.02
Price spread: −0.045% → 0.000%: −$4.49
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $28.54
Costs to cover: 0.150%
Break-even: 2.8 days

Slippage unknown: SunX: live order book, 10 min ago; Phoenix: no order-book sample. 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 SunX live order book, 10 min ago	45.91 bp	124.6 bp −$125	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

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	73.448	−0.089%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.530	+0.023%	$884K	$962K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	73.450	−0.086%	$1.1M	$1.5M	10x	as long as short
SunX NFLX-USDTlong	0.0000%	8h	73.513	long leg	$2K	$5.0M	10x
HTX NFLX-USDT	0.0000%	8h	73.565	+0.071%	$10K	$52K	20x	as long as short
Phemex NFLXUSDT	0.0000%	8h	73.520	+0.010%	$1.4M	$331K	10x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.450	−0.086%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.406	−0.146%	$16K	$29K	10x	as long as short
tradeXYZ xyz:NFLX	+0.0050%	1h	73.410	−0.140%	$5.0M	$2.9M	10x	as long as short
Bitget NFLXUSDT	+0.0050%	8h	73.550	+0.050%	$4.3M	$578K	50x	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	73.470	−0.058%	$64K	$179K	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.450	−0.086%	$151K	$37K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.494	−0.025%	$225	—	10x	as long as short
Gate NFLX_USDT	+0.0116%	8h	73.530	+0.023%	$1.3M	$1.2M	25x	as long as short
GRVT NFLX_USDT_Perp	+0.0183%	8h	73.520	+0.010%	$354	$152K	10x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	74.160	+0.880%	$83K	$71K	12x	as long as short
Variational Omni NFLX	+0.0221%	8h	73.504	−0.013%	$94K	$139K	—	as long as short
Binance NFLXUSDT	+0.0227%	8h	73.510	−0.004%	$5.4M	$5.4M	20x	as long as short
Phoenix NFLXshort	+0.0229%	1h	73.480	−0.045%	$12K	$77K	10x
BloFin NFLX-USDT	+0.0378%	8h	73.510	−0.004%	$46K	$82K	20x	as long as short
Bybit NFLXUSDT	+0.0580%	8h	73.520	+0.010%	$1.3M	$920K	50x	as long as short