Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0250%/8h= +27.4% APRpaid last 24h +0.013%

Price spread now: Phoenix against OKX−0.145%66s7-day average — · you buy dearer than you sell

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

Long on OKX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.343%+$34 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 0.145% cheaper against OKX than usual: you would sell low and buy high (spread −0.145% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 46 hours of funding at the current rate (+$8 a day). The two prices were read 66 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	OKX NFLX-USDT-SWAP	73.770	0	get 0.0000% / 8h	3h 06m	$881K	$820K	20x
Short	Phoenix NFLX	73.663	0.0250	get 0.0031% / 1h	6m 21s	$12K	$77K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against OKX. 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 OKXbpFee PhoenixbpOrdersPrice spread, now −0.145%Rate

Funding earned: $52.53
Price spread: −0.145% → 0.000%: −$14.5
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $21.03
Costs to cover: 0.170%
Break-even: 4.2 days

Slippage unknown: OKX: live order book, 45 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 OKX live order book, 45 min ago	2.72 bp	18.5 bp −$18	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 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	73.742	−0.038%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAPlong	0.0000%	8h	73.770	long leg	$881K	$820K	20x
QFEX NFLX-USD	0.0000%	1h	73.740	−0.041%	$1.1M	$1.4M	10x	as long as short
Bitget NFLXUSDT	0.0000%	8h	73.750	−0.027%	$4.3M	$573K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.772	+0.003%	$1K	$4.6M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.685	−0.115%	$10K	$52K	20x	as long as short
Phemex NFLXUSDT	0.0000%	8h	73.780	+0.014%	$1.4M	$328K	10x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.730	−0.054%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.692	−0.106%	$16K	$29K	10x	as long as short
tradeXYZ xyz:NFLX	+0.0050%	1h	73.698	−0.098%	$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.P	+0.0050%	1h	73.760	−0.014%	$65K	$140K	10x	as long as short
Gate NFLX_USDT	+0.0070%	8h	73.780	+0.014%	$1.4M	$1.2M	25x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.740	−0.041%	$152K	$38K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.774	+0.006%	$226	—	10x	as long as short
Binance NFLXUSDT	+0.0139%	8h	73.779	+0.012%	$5.4M	$5.4M	20x	as long as short
Variational Omni NFLX	+0.0146%	8h	73.651	−0.161%	$97K	$132K	—	as long as short
GRVT NFLX_USDT_Perp	+0.0174%	8h	73.670	−0.136%	$441	$141K	10x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	78.150	+5.937%	$87K	$99K	12x	as long as short
Phoenix NFLXshort	+0.0250%	1h	73.663	−0.145%	$12K	$77K	10x
BloFin NFLX-USDT	+0.0261%	8h	73.690	−0.108%	$47K	$83K	20x	as long as short
Bybit NFLXUSDT	+0.0342%	8h	73.810	+0.054%	$1.3M	$884K	50x	as long as short