Settings8H · net · $10k
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Funding arb · Price arb /

NFLX

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 08:00 UTC+0.0361%/8h= +39.5% APRnext payment +$3.61 per $10,000 · paid last 24h +0.130%
Price spread now: Bybit against Phemex+0.041%7-day average −0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs−$117as in the Funding arb table
Net, price: spread back to 7d avg − costs−$134as in the Price arb table
costs, in and out, $10k−$1401.397% of the position
Long on PhemexShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days+0.229%+$23 on $10k
Price spread, last 4 days (all we have)−0.333%−$33 · spread now +0.041%, 7d avg −0.014%
Together, before fees−0.103%−$10 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Bybit is 0.055% dearer against Phemex than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.014%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.229% in total (about 12.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.61 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex NFLXUSDT73.6200get 0.0000% / 8h5h 26m$1.4M$329K10x
ShortBybit NFLXUSDT73.6500.0361get 0.0361% / 8h5h 26m$1.3M$889K50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against Phemex. 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

Funding earned
$75.81
Price spread: +0.041% → −0.014%
$5.46
Slippage, 4 orders
−$116.68
Fee Phemex: 6 bp × 2 orders
−$12
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$58.41
Costs to cover
1.397%
Break-even
12.4 days
Slippage from Phemex: live order book, 1 min ago; Bybit: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phemex live order book, 1 min ago2.04 bp46.2 bp −$46doesn't fitdoesn't fitdoesn't fit
Sell Bybit live order book, 4 min ago3.39 bp21.3 bp −$21167.6 bp −$1,676doesn't fitdoesn't fit

NFLX on 21 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster NFLXUSDT0.0000%8h73.559−0.083%$11K$5K20xas long as short
OKX NFLX-USDT-SWAP0.0000%8h73.630+0.014%$880K$860K20xas long as short
QFEX NFLX-USD0.0000%1h73.540−0.109%$1.1M$1.4M10xas long as short
Gate NFLX_USDT0.0000%8h73.700+0.109%$1.4M$1.1M25xas long as short
Bitget NFLXUSDT0.0000%8h73.650+0.041%$4.3M$543K50xas long as short
SunX NFLX-USDT0.0000%8h73.601−0.026%$1K$4.7M10xas long as short
HTX NFLX-USDT0.0000%8h73.627+0.010%$10K$52K20xas long as short
Phemex NFLXUSDTlong0.0000%8h73.620long leg$1.4M$329K10x
Vest NFLX-USD-PERP+0.0046%1h73.540−0.109%—$21K25xas long as short
Extended NFLX-USD+0.0048%1h73.534−0.117%$16K$29K10xas long as short
Show all 21 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
tradeXYZ xyz:NFLX+0.0050%1h73.540−0.109%$4.9M$2.9M10xas long as short
Ondo Perps NFLX-USD.P+0.0050%1h73.530−0.122%$65K$144K10xas long as short
KuCoin NFLXUSDTM+0.0100%8h73.550−0.095%$151K$37K20xas long as short
Aevo NFLX-PERP+0.0104%1h73.597−0.031%$225—10xas long as short
Phoenix NFLX+0.0185%1h73.588−0.043%$12K$77K10xas long as short
Variational Omni NFLX+0.0207%8h73.635+0.020%$94K$130K—as long as short
Binance NFLXUSDT+0.0211%8h73.600−0.027%$5.4M$5.4M20xas long as short
Injective NFLX/USDC PERP+0.0220%1h77.910+5.827%$87K$85K12xas long as short
GRVT NFLX_USDT_Perp+0.0262%8h73.630+0.014%$658$143K10xas long as short
BloFin NFLX-USDT+0.0352%8h73.6200.000%$47K$81K20xas long as short
Bybit NFLXUSDTshort+0.0361%8h73.650+0.041%$1.3M$889K50x