Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0138%/8h= +15.1% APRpaid last 24h +0.039%

Price spread now: Phoenix against KuCoin−0.087%93s7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.255%+$26 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.087% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.087% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 2.1 days of funding at the current rate (+$4 a day). The two prices were read 93 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	KuCoin NFLXUSDTM	73.880	0.0100	pay 0.0100% / 8h	4h 56m	$151K	$238K	20x
Short	Phoenix NFLX	73.816	0.0238	get 0.0030% / 1h	56m 01s	$12K	$77K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against KuCoin. 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 KuCoinbpFee PhoenixbpOrdersPrice spread, now −0.087%Rate

Funding earned: $28.98
Price spread: −0.087% → 0.000%: −$8.66
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $1.32
Costs to cover: 0.190%
Break-even: 6.7 days

Slippage unknown: KuCoin: live order book, 31 min ago; 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 KuCoin live order book, 31 min ago	18.26 bp	108.2 bp −$108	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

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 exchanges

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	73.828	−0.071%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.900	+0.027%	$883K	$756K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	73.780	−0.135%	$1.2M	$1.3M	10x	as long as short
Bitget NFLXUSDT	0.0000%	8h	73.870	−0.014%	$4.2M	$619K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.891	+0.015%	$2K	$3.9M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.899	+0.026%	$10K	$52K	20x	as long as short
Phemex NFLXUSDT	0.0000%	8h	73.910	+0.041%	$1.4M	$338K	10x	as long as short
Gate NFLX_USDT	+0.0023%	8h	73.910	+0.041%	$1.4M	$1.1M	25x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.790	−0.122%	—	$21K	25x	as long as short
Ondo Perps NFLX-USD.P	+0.0050%	1h	73.800	−0.108%	$64K	$125K	10x	as long as short

Show all 21 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:NFLX	+0.0089%	1h	73.795	−0.115%	$5.0M	$2.9M	10x	as long as short
KuCoin NFLXUSDTMlong	+0.0100%	8h	73.880	long leg	$151K	$238K	20x
Extended NFLX-USD	+0.0104%	1h	73.793	−0.117%	$12K	$19K	10x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.892	+0.017%	$226	—	10x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	74.580	+0.947%	$83K	$139K	12x	as long as short
Phoenix NFLXshort	+0.0238%	1h	73.816	−0.087%	$12K	$77K	10x
Variational Omni NFLX	+0.0308%	8h	73.950	+0.095%	$76K	$119K	—	as long as short
Binance NFLXUSDT	+0.0309%	8h	73.890	+0.013%	$5.4M	$5.5M	20x	as long as short
GRVT NFLX_USDT_Perp	+0.0369%	8h	73.960	+0.108%	$1K	$113K	10x	as long as short
BloFin NFLX-USDT	+0.0467%	8h	73.960	+0.108%	$48K	$82K	20x	as long as short
Bybit NFLXUSDT	+0.0521%	8h	73.920	+0.054%	$1.2M	$708K	50x	as long as short