Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.027%

Price spread now: Phemex against tradeXYZ+0.117%7-day average +0.152% · you sell dearer than you buy

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$127as in the Price arb table

costs, in and out, $10k−$1231.233% of the position

Long on tradeXYZ Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.147%−$15 on $10k

Price spread, last 3 days (all we have)+0.057%+$6 · spread now +0.117%, 7d avg +0.152%

Together, before fees−0.090%+ Points / potential airdroptradeXYZ: Active · farm board−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.035% cheaper against tradeXYZ than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.152%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:NFLX	73.414	0.0050	pay 0.0006% / 1h	22m 45s	$5.0M	$2.9M	10x
Short	Phemex NFLXUSDT	73.500	0	get 0.0000% / 8h	7h 22m	$1.4M	$329K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against tradeXYZ. 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 tradeXYZbpFee PhemexbpOrdersPrice spread, now +0.117%Rate

Funding earned: −$10.5
Price spread: +0.117% → +0.152%: −$3.51
Slippage, 4 orders: −$93.31
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$137.32
Costs to cover: 1.233%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 6 min ago; Phemex: live order book, 5 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 tradeXYZ live order book, 6 min ago	1.29 bp	12.5 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	6.12 bp	43.3 bp −$43	doesn't fit	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	73.440	+0.035%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.510	+0.131%	$883K	$948K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	73.390	−0.033%	$1.1M	$1.5M	10x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.494	+0.109%	$2K	$4.9M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.503	+0.121%	$10K	$52K	20x	as long as short
Phemex NFLXUSDTshort	0.0000%	8h	73.500	+0.117%	$1.4M	$329K	10x
Bitget NFLXUSDT	+0.0017%	8h	73.520	+0.144%	$4.3M	$571K	50x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.390	−0.033%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.400	−0.019%	$16K	$29K	10x	as long as short
tradeXYZ xyz:NFLXlong	+0.0050%	1h	73.414	long leg	$5.0M	$2.9M	10x

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	73.430	+0.022%	$64K	$176K	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.430	+0.022%	$151K	$37K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.483	+0.094%	$225	—	10x	as long as short
Gate NFLX_USDT	+0.0193%	8h	73.550	+0.185%	$1.4M	$1.2M	25x	as long as short
GRVT NFLX_USDT_Perp	+0.0197%	8h	73.520	+0.144%	$872	$152K	10x	as long as short
Variational Omni NFLX	+0.0216%	8h	73.513	+0.135%	$94K	$139K	—	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	77.780	+5.947%	$87K	$72K	12x	as long as short
Binance NFLXUSDT	+0.0221%	8h	73.489	+0.102%	$5.4M	$5.4M	20x	as long as short
Phoenix NFLX	+0.0229%	1h	73.430	+0.022%	$12K	$77K	10x	as long as short
BloFin NFLX-USDT	+0.0368%	8h	73.530	+0.158%	$47K	$82K	20x	as long as short
Bybit NFLXUSDT	+0.0555%	8h	73.550	+0.185%	$1.3M	$906K	50x	as long as short