Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.024%

Price spread now: tradeXYZ against Phemex−0.110%7-day average −0.152% · you buy dearer than you sell

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$1211.211% of the position

Long on Phemex Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.149%+$15 on $10k

Price spread, last 4 days (all we have)−0.320%−$32 · spread now −0.110%, 7d avg −0.152%

Together, before fees−0.171%+ Points / potential airdroptradeXYZ: Active · farm board−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and tradeXYZ is 0.042% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.152%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NFLXUSDT	73.630	0	get 0.0000% / 8h	5h 21m	$1.4M	$328K	10x
Short	tradeXYZ xyz:NFLX	73.549	0.0050	get 0.0006% / 1h	21m 49s	$4.9M	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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

Position, each leg$Hold fordaysFee PhemexbpFee tradeXYZbpOrdersPrice spread, now −0.110%Rate

Funding earned: $10.5
Price spread: −0.110% → −0.152%: $4.15
Slippage, 4 orders: −$91.11
Fee Phemex: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$106.45
Costs to cover: 1.211%
Break-even: 78.0 days

Slippage from Phemex: live order book, 1 min ago; tradeXYZ: live order book, 5 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 Phemex live order book, 1 min ago	1.36 bp	42.8 bp −$43	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 5 min ago	1.29 bp	12.2 bp −$12	doesn't fit	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	73.558	−0.098%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.620	−0.014%	$880K	$860K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	73.550	−0.109%	$1.1M	$1.4M	10x	as long as short
Gate NFLX_USDT	0.0000%	8h	73.660	+0.041%	$1.4M	$1.2M	25x	as long as short
Bitget NFLXUSDT	0.0000%	8h	73.640	+0.014%	$4.3M	$543K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.621	−0.012%	$1K	$4.7M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.624	−0.008%	$10K	$53K	20x	as long as short
Phemex NFLXUSDTlong	0.0000%	8h	73.630	long leg	$1.4M	$328K	10x
Vest NFLX-USD-PERP	+0.0046%	1h	73.540	−0.122%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.531	−0.135%	$16K	$29K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:NFLXshort	+0.0050%	1h	73.549	−0.110%	$4.9M	$2.9M	10x
Ondo Perps NFLX-USD.P	+0.0050%	1h	73.560	−0.095%	$65K	$144K	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.560	−0.095%	$151K	$37K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.600	−0.041%	$225	—	10x	as long as short
Phoenix NFLX	+0.0185%	1h	73.583	−0.064%	$12K	$77K	10x	as long as short
Variational Omni NFLX	+0.0206%	8h	73.595	−0.048%	$94K	$130K	—	as long as short
Binance NFLXUSDT	+0.0208%	8h	73.620	−0.014%	$5.4M	$5.4M	20x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	77.920	+5.826%	$87K	$85K	12x	as long as short
GRVT NFLX_USDT_Perp	+0.0260%	8h	73.623	−0.010%	$657	$143K	10x	as long as short
BloFin NFLX-USDT	+0.0346%	8h	73.580	−0.068%	$47K	$81K	20x	as long as short
Bybit NFLXUSDT	+0.0370%	8h	73.610	−0.027%	$1.3M	$885K	50x	as long as short