Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.049%

Price spread now: Phoenix against BloFin−0.037%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.107%+$11 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phoenix is 0.037% cheaper against BloFin than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.107%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin NFLX-USDT	73.860	0.0238	pay 0.0238% / 8h	1h 26m	$47K	$83K	20x
Short	Phoenix NFLX	73.833	0.0206	get 0.0026% / 1h	26m 26s	$12K	$77K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against BloFin. 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 BloFinbpFee PhoenixbpOrdersPrice spread, now −0.037%Rate

Funding earned: −$6.84
Price spread: −0.037% → 0.000%: −$3.66
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$29.5
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: BloFin: no order-book sample; Phoenix: no order-book sample. 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 BloFin no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

BloFin and 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	73.814	−0.062%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.810	−0.068%	$877K	$829K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	73.800	−0.081%	$1.1M	$1.4M	10x	as long as short
Bitget NFLXUSDT	0.0000%	8h	73.910	+0.068%	$4.3M	$593K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.837	−0.031%	$1K	$4.6M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.952	+0.125%	$10K	$52K	20x	as long as short
Phemex NFLXUSDT	0.0000%	8h	73.850	−0.014%	$1.4M	$344K	10x	as long as short
Gate NFLX_USDT	+0.0041%	8h	73.880	+0.027%	$1.4M	$1.2M	25x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.810	−0.068%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.785	−0.102%	$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:NFLX	+0.0050%	1h	73.785	−0.102%	$5.0M	$3.0M	10x	as long as short
Ondo Perps NFLX-USD.P	+0.0050%	1h	73.790	−0.095%	$66K	$141K	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.820	−0.054%	$152K	$38K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.833	−0.036%	$226	—	10x	as long as short
Variational Omni NFLX	+0.0113%	8h	73.912	+0.070%	$95K	$126K	—	as long as short
Binance NFLXUSDT	+0.0117%	8h	73.822	−0.051%	$5.4M	$5.6M	20x	as long as short
GRVT NFLX_USDT_Perp	+0.0186%	8h	73.944	+0.114%	$486	$139K	10x	as long as short
Phoenix NFLXshort	+0.0206%	1h	73.833	−0.037%	$12K	$77K	10x
Injective NFLX/USDC PERP	+0.0220%	1h	74.520	+0.894%	$83K	$110K	12x	as long as short
BloFin NFLX-USDTlong	+0.0238%	8h	73.860	long leg	$47K	$83K	20x
Bybit NFLXUSDT	+0.0282%	8h	73.890	+0.041%	$1.3M	$872K	50x	as long as short