Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0080%/8h= −8.8% APRpaid last 24h +0.010%

Price spread now: Binance against Phoenix+0.087%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.236%−$24 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Binance is 0.087% dearer against Phoenix than usual: you sell high and buy low (spread +0.087% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix NFLX	73.706	0.0206	pay 0.0026% / 1h	46m 58s	$12K	$77K	10x
Short	Binance NFLXUSDT	73.770	0.0126	get 0.0126% / 8h	2h 46m	$5.4M	$5.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phoenix. 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 PhoenixbpFee BinancebpOrdersPrice spread, now +0.087%Rate

Funding earned: −$16.87
Price spread: +0.087% → 0.000%: $8.68
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$25.19
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Binance: live order book, 6 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 Phoenix no order-book sample	—	—	—	—	—
Sell Binance live order book, 6 min ago	1.36 bp	12.9 bp −$13	26.3 bp −$263	153.1 bp −$15.3K	doesn't fit

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	73.714	+0.011%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.820	+0.155%	$881K	$821K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	73.700	−0.008%	$1.1M	$1.4M	10x	as long as short
Bitget NFLXUSDT	0.0000%	8h	73.790	+0.114%	$4.3M	$574K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.773	+0.091%	$1K	$4.6M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.759	+0.072%	$10K	$52K	20x	as long as short
Phemex NFLXUSDT	0.0000%	8h	73.740	+0.046%	$1.4M	$329K	10x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.710	+0.005%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.682	−0.032%	$16K	$29K	10x	as long as short
tradeXYZ xyz:NFLX	+0.0050%	1h	73.690	−0.022%	$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	73.690	−0.022%	$66K	$141K	10x	as long as short
Gate NFLX_USDT	+0.0060%	8h	73.820	+0.155%	$1.4M	$1.2M	25x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.720	+0.019%	$152K	$38K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.768	+0.084%	$226	—	10x	as long as short
Variational Omni NFLX	+0.0120%	8h	73.777	+0.096%	$97K	$131K	—	as long as short
Binance NFLXUSDTshort	+0.0126%	8h	73.770	+0.087%	$5.4M	$5.4M	20x
GRVT NFLX_USDT_Perp	+0.0148%	8h	73.791	+0.115%	$974	$142K	10x	as long as short
Phoenix NFLXlong	+0.0206%	1h	73.706	long leg	$12K	$77K	10x
Injective NFLX/USDC PERP	+0.0220%	1h	74.410	+0.955%	$83K	$101K	12x	as long as short
BloFin NFLX-USDT	+0.0246%	8h	73.760	+0.073%	$47K	$83K	20x	as long as short
Bybit NFLXUSDT	+0.0341%	8h	73.790	+0.114%	$1.3M	$885K	50x	as long as short