Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0509%/8h= −55.7% APRpaid last 24h −0.130%

Price spread now: QFEX against Bybit−0.204%7-day average −0.287% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$600.596% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.220%−$22 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now −0.204%, 7d avg −0.287%

Together, before fees−0.160%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.083% dearer against Bybit than usual: you sell high and buy low (spread −0.204% now, against its 7-day average of −0.287%): +$8 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 3 days (−0.220% in total) that is about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NFLXUSDT	73.540	0.0509	pay 0.0509% / 8h	7h 24m	$1.3M	$906K	50x
Short	QFEX NFLX-USD	73.390	0	get 0.0000% / 1h	24m 39s	$1.1M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.204%Rate

Funding earned: −$106.79
Price spread: −0.204% → −0.287%: $8.25
Slippage, 4 orders: −$38.57
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$158.11
Costs to cover: 0.596%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; QFEX: live order book, 2 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 Bybit live order book, 1 min ago	6.12 bp	15.9 bp −$16	114.9 bp −$1,149	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	1.36 bp	13.5 bp −$14	21.5 bp −$215	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	73.455	−0.115%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.510	−0.041%	$883K	$948K	20x	as long as short
QFEX NFLX-USDshort	0.0000%	1h	73.390	−0.204%	$1.1M	$1.5M	10x
SunX NFLX-USDT	0.0000%	8h	73.523	−0.023%	$2K	$4.9M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.445	−0.129%	$10K	$52K	20x	as long as short
Phemex NFLXUSDT	0.0000%	8h	73.520	−0.027%	$1.4M	$329K	10x	as long as short
Bitget NFLXUSDT	+0.0019%	8h	73.520	−0.027%	$4.3M	$571K	50x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.400	−0.190%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.379	−0.219%	$16K	$29K	10x	as long as short
tradeXYZ xyz:NFLX	+0.0050%	1h	73.382	−0.215%	$5.0M	$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	73.430	−0.150%	$64K	$176K	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.430	−0.150%	$151K	$37K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.495	−0.061%	$225	—	10x	as long as short
GRVT NFLX_USDT_Perp	+0.0191%	8h	73.520	−0.027%	$872	$152K	10x	as long as short
Variational Omni NFLX	+0.0216%	8h	73.513	−0.037%	$94K	$139K	—	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	74.150	+0.829%	$83K	$72K	12x	as long as short
Binance NFLXUSDT	+0.0222%	8h	73.510	−0.041%	$5.4M	$5.4M	20x	as long as short
Gate NFLX_USDT	+0.0224%	8h	73.540	0.000%	$1.3M	$1.2M	25x	as long as short
Phoenix NFLX	+0.0229%	1h	73.501	−0.053%	$12K	$77K	10x	as long as short
BloFin NFLX-USDT	+0.0370%	8h	73.510	−0.041%	$46K	$82K	20x	as long as short
Bybit NFLXUSDTlong	+0.0509%	8h	73.540	long leg	$1.3M	$906K	50x