Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.061%

Price spread now: Phemex against OKX−0.014%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$148as in the Funding arb table

Net, price: spread back to 7d avg − costs−$139as in the Price arb table

costs, in and out, $10k−$1361.360% of the position

Long on OKX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.121%−$12 on $10k

Price spread, last 4 days (all we have)+0.074%+$7 · spread now −0.014%, 7d avg +0.016%

Together, before fees−0.047%−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.029% cheaper against OKX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NFLX-USDT-SWAP	73.580	0	get 0.0000% / 8h	3h 40m	$879K	$816K	20x
Short	Phemex NFLXUSDT	73.570	0	get 0.0000% / 8h	3h 40m	$1.4M	$324K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against OKX. 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 OKXbpFee PhemexbpOrdersPrice spread, now −0.014%Rate

Funding earned: $0
Price spread: −0.014% → +0.016%: −$2.93
Slippage, 4 orders: −$113.95
Fee OKX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$138.88
Costs to cover: 1.360%
Break-even: never at this rate

Slippage from OKX: live order book, 11 min ago; Phemex: 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 OKX live order book, 11 min ago	2.72 bp	18.5 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	1.36 bp	47.2 bp −$47	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	73.535	−0.062%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAPlong	0.0000%	8h	73.580	long leg	$879K	$816K	20x
QFEX NFLX-USD	0.0000%	1h	73.500	−0.109%	$1.1M	$1.4M	10x	as long as short
Bitget NFLXUSDT	0.0000%	8h	73.610	+0.041%	$4.3M	$560K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.554	−0.035%	$2K	$4.6M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.592	+0.016%	$10K	$53K	20x	as long as short
Phemex NFLXUSDTshort	0.0000%	8h	73.570	−0.014%	$1.4M	$324K	10x
Vest NFLX-USD-PERP	+0.0046%	1h	73.500	−0.109%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.500	−0.109%	$16K	$29K	10x	as long as short
tradeXYZ xyz:NFLX	+0.0050%	1h	73.499	−0.110%	$4.9M	$2.9M	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	73.490	−0.122%	$65K	$139K	10x	as long as short
Gate NFLX_USDT	+0.0059%	8h	73.620	+0.054%	$1.4M	$1.2M	25x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.530	−0.068%	$151K	$37K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.561	−0.026%	$225	—	10x	as long as short
Variational Omni NFLX	+0.0169%	8h	73.542	−0.051%	$94K	$129K	—	as long as short
Binance NFLXUSDT	+0.0176%	8h	73.556	−0.032%	$5.4M	$5.4M	20x	as long as short
GRVT NFLX_USDT_Perp	+0.0216%	8h	73.572	−0.012%	$529	$143K	10x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	77.910	+5.885%	$87K	$95K	12x	as long as short
Phoenix NFLX	+0.0250%	1h	73.537	−0.058%	$12K	$77K	10x	as long as short
BloFin NFLX-USDT	+0.0297%	8h	73.570	−0.014%	$47K	$82K	20x	as long as short
Bybit NFLXUSDT	+0.0368%	8h	73.620	+0.054%	$1.3M	$875K	50x	as long as short