Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0298%/8h= −32.6% APRpaid last 24h −0.115%

Price spread now: Ondo Perps against Bybit−0.163%7-day average −0.169% · you buy dearer than you sell

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

Long on Bybit Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.194%−$19 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now −0.163%, 7d avg −0.169%

Together, before fees−0.246%+ Points / potential airdropOndo Perps: Active · farm board−$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.169%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.194% in total (about -10.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NFLXUSDT	73.810	0.0348	pay 0.0348% / 8h	2h 44m	$1.3M	$885K	50x
Short	Ondo Perps NFLX-USD.P	73.690	0.0050	get 0.0006% / 1h	44m 30s	$66K	$141K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.163%Rate

Funding earned: −$62.49
Price spread: −0.163% → −0.169%: $0.66
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$77.83
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 min ago; Ondo Perps: 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 Bybit live order book, 1 min ago	6.77 bp	15.3 bp −$15	134.7 bp −$1,347	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

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	73.711	−0.134%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.820	+0.014%	$881K	$821K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	73.700	−0.149%	$1.1M	$1.4M	10x	as long as short
Bitget NFLXUSDT	0.0000%	8h	73.790	−0.027%	$4.3M	$574K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.793	−0.023%	$1K	$4.6M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.704	−0.144%	$10K	$52K	20x	as long as short
Phemex NFLXUSDT	0.0000%	8h	73.740	−0.095%	$1.4M	$329K	10x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.700	−0.149%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.691	−0.161%	$16K	$29K	10x	as long as short
tradeXYZ xyz:NFLX	+0.0050%	1h	73.732	−0.106%	$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.Pshort	+0.0050%	1h	73.690	−0.163%	$66K	$141K	10x
Gate NFLX_USDT	+0.0059%	8h	73.820	+0.014%	$1.4M	$1.2M	25x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.740	−0.095%	$152K	$38K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.765	−0.061%	$226	—	10x	as long as short
Variational Omni NFLX	+0.0123%	8h	73.782	−0.038%	$97K	$131K	—	as long as short
Binance NFLXUSDT	+0.0130%	8h	73.798	−0.016%	$5.4M	$5.4M	20x	as long as short
GRVT NFLX_USDT_Perp	+0.0157%	8h	73.786	−0.033%	$969	$142K	10x	as long as short
Phoenix NFLX	+0.0206%	1h	73.706	−0.141%	$12K	$77K	10x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	78.070	+5.772%	$87K	$102K	12x	as long as short
BloFin NFLX-USDT	+0.0247%	8h	73.800	−0.014%	$47K	$83K	20x	as long as short
Bybit NFLXUSDTlong	+0.0348%	8h	73.810	long leg	$1.3M	$885K	50x