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 −0.015%

Price spread now: Phemex against Ondo Perps+0.109%7-day average +0.187% · you sell dearer than you buy

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

Long on Ondo Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.035%−$4 on $10k

Price spread, last 3 days (all we have)+0.161%+$16 · spread now +0.109%, 7d avg +0.187%

Together, before fees+0.126%+ Points / potential airdropOndo Perps: Active · farm board+$13 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 0.078% cheaper against Ondo Perps than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.187%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps NFLX-USD.P	73.420	0.0050	pay 0.0006% / 1h	45m 01s	$64K	$181K	10x
Short	Phemex NFLXUSDT	73.500	0	get 0.0000% / 8h	7h 45m	$1.4M	$331K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Ondo Perps. 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 Ondo PerpsbpFee PhemexbpOrdersPrice spread, now +0.109%Rate

Funding earned: −$10.58
Price spread: +0.109% → +0.187%: −$7.81
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$35.4
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Phemex: live order book, 3 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	2.72 bp	41.7 bp −$42	doesn't fit	doesn't fit	doesn't fit

Ondo Perps: 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	73.450	+0.041%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.520	+0.136%	$885K	$964K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	73.410	−0.014%	$1.1M	$1.5M	10x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.514	+0.128%	$2K	$5.0M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.558	+0.188%	$10K	$52K	20x	as long as short
Phemex NFLXUSDTshort	0.0000%	8h	73.500	+0.109%	$1.4M	$331K	10x
Vest NFLX-USD-PERP	+0.0046%	1h	73.400	−0.027%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.410	−0.014%	$16K	$29K	10x	as long as short
tradeXYZ xyz:NFLX	+0.0050%	1h	73.420	0.000%	$5.0M	$3.0M	10x	as long as short
Ondo Perps NFLX-USD.Plong	+0.0050%	1h	73.420	long leg	$64K	$181K	10x

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NFLXUSDT	+0.0065%	8h	73.500	+0.109%	$4.3M	$580K	50x	as long as short
GRVT NFLX_USDT_Perp	+0.0097%	8h	73.520	+0.136%	$598	$153K	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.440	+0.027%	$151K	$37K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.497	+0.105%	$225	—	10x	as long as short
Gate NFLX_USDT	+0.0129%	8h	73.530	+0.150%	$1.3M	$1.2M	25x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	74.140	+0.981%	$82K	$70K	12x	as long as short
Variational Omni NFLX	+0.0222%	8h	73.504	+0.114%	$94K	$139K	—	as long as short
Binance NFLXUSDT	+0.0228%	8h	73.510	+0.123%	$5.4M	$5.4M	20x	as long as short
Phoenix NFLX	+0.0229%	1h	73.483	+0.086%	$12K	$77K	10x	as long as short
BloFin NFLX-USDT	+0.0379%	8h	73.520	+0.136%	$46K	$82K	20x	as long as short
Bybit NFLXUSDT	+0.0741%	8h	73.550	+0.177%	$1.3M	$920K	50x	as long as short