Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0063%/8h= −6.9% APRpaid last 24h −0.125%

Price spread now: Injective against Bybit+5.896%58s7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.364%−$36 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. Injective is 5.896% dearer against Bybit than usual: you sell high and buy low (spread +5.896% now, against zero (this spread has no 7-day history yet)): +$590 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 10 months. At the pace of the last 7 days (−0.364% in total) that is about 4 months. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NFLXUSDT	73.950	0.0283	pay 0.0283% / 8h	2h 04m	$1.3M	$903K	50x
Short	Injective NFLX/USDC PERP	78.310	0.0220	get 0.0028% / 1h	4m 21s	$87K	$106K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bybit. 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 BybitbpFee InjectivebpOrdersPrice spread, now +5.896%Rate

Funding earned: −$13.17
Price spread: +5.896% → 0.000%: $589.59
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $565.4
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 1 min ago; Injective: live order book, 44 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 Bybit live order book, 1 min ago	5.41 bp	21.1 bp −$21	136.5 bp −$1,365	doesn't fit	doesn't fit
Sell Injective live order book, 44 min ago	42.94 bp	doesn't fit	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	73.901	−0.066%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.980	+0.041%	$878K	$838K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	73.840	−0.149%	$1.1M	$1.4M	10x	as long as short
Bitget NFLXUSDT	0.0000%	8h	73.920	−0.041%	$4.3M	$592K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.999	+0.066%	$2K	$4.6M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.938	−0.016%	$10K	$52K	20x	as long as short
Phemex NFLXUSDT	0.0000%	8h	73.980	+0.041%	$1.4M	$341K	10x	as long as short
Gate NFLX_USDT	+0.0042%	8h	73.990	+0.054%	$1.4M	$1.2M	25x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.840	−0.149%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.845	−0.142%	$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	73.841	−0.147%	$5.0M	$2.9M	10x	as long as short
Ondo Perps NFLX-USD.P	+0.0050%	1h	73.850	−0.135%	$66K	$142K	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.880	−0.095%	$152K	$38K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.964	+0.019%	$226	—	10x	as long as short
Variational Omni NFLX	+0.0112%	8h	73.932	−0.024%	$95K	$126K	—	as long as short
Binance NFLXUSDT	+0.0119%	8h	73.980	+0.041%	$5.4M	$5.6M	20x	as long as short
GRVT NFLX_USDT_Perp	+0.0160%	8h	73.988	+0.051%	$636	$140K	10x	as long as short
Phoenix NFLX	+0.0206%	1h	73.912	−0.051%	$12K	$77K	10x	as long as short
Injective NFLX/USDC PERPshort	+0.0220%	1h	78.310	+5.896%	$87K	$106K	12x
BloFin NFLX-USDT	+0.0240%	8h	73.970	+0.027%	$47K	$83K	20x	as long as short
Bybit NFLXUSDTlong	+0.0283%	8h	73.950	long leg	$1.3M	$903K	50x