Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.022%

Price spread now: tradeXYZ against Phemex−0.091%7-day average −0.147% · you buy dearer than you sell

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$124as in the Price arb table

costs, in and out, $10k−$1301.298% of the position

Long on Phemex Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.149%+$15 on $10k

Price spread, last 4 days (all we have)−0.074%−$7 · spread now −0.091%, 7d avg −0.147%

Together, before fees+0.075%+ Points / potential airdroptradeXYZ: Active · farm board+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and tradeXYZ is 0.056% dearer against Phemex than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.147%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NFLXUSDT	73.920	0	get 0.0000% / 8h	30m 49s	$1.4M	$345K	10x
Short	tradeXYZ xyz:NFLX	73.853	0.0050	get 0.0006% / 1h	30m 49s	$5.0M	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Phemex. 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 PhemexbpFee tradeXYZbpOrdersPrice spread, now −0.091%Rate

Funding earned: $10.5
Price spread: −0.091% → −0.147%: $5.65
Slippage, 4 orders: −$99.83
Fee Phemex: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$113.68
Costs to cover: 1.298%
Break-even: 82.8 days

Slippage from Phemex: live order book, 2 min ago; tradeXYZ: live order book, 8 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 Phemex live order book, 2 min ago	1.35 bp	44.7 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 8 min ago	1.42 bp	14.0 bp −$14	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	74.003	+0.112%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.930	+0.014%	$877K	$831K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	73.820	−0.135%	$1.1M	$1.4M	10x	as long as short
Bitget NFLXUSDT	0.0000%	8h	73.900	−0.027%	$4.2M	$596K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.920	0.000%	$1K	$4.6M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.943	+0.031%	$10K	$52K	20x	as long as short
Phemex NFLXUSDTlong	0.0000%	8h	73.920	long leg	$1.4M	$345K	10x
Gate NFLX_USDT	+0.0026%	8h	73.920	0.000%	$1.4M	$1.2M	25x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.840	−0.108%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.856	−0.086%	$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:NFLXshort	+0.0050%	1h	73.853	−0.091%	$5.0M	$2.9M	10x
Ondo Perps NFLX-USD.P	+0.0050%	1h	73.840	−0.108%	$66K	$141K	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.850	−0.095%	$152K	$38K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.921	+0.001%	$226	—	10x	as long as short
Variational Omni NFLX	+0.0122%	8h	73.911	−0.013%	$83K	$119K	—	as long as short
Binance NFLXUSDT	+0.0129%	8h	73.925	+0.007%	$5.4M	$5.6M	20x	as long as short
GRVT NFLX_USDT_Perp	+0.0213%	8h	73.910	−0.013%	$336	$136K	10x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	74.570	+0.879%	$83K	$116K	12x	as long as short
Bybit NFLXUSDT	+0.0249%	8h	73.900	−0.027%	$1.3M	$887K	50x	as long as short
Phoenix NFLX	+0.0249%	1h	73.867	−0.072%	$12K	$77K	10x	as long as short
BloFin NFLX-USDT	+0.0249%	8h	73.910	−0.014%	$47K	$77K	20x	as long as short