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: OKX against Phoenix+0.016%46s7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on OKX

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$8 a day on $10k at the current rate. The two prices were read 46 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	Phoenix NFLX	73.548	0.0250	pay 0.0031% / 1h	42m 39s	$12K	$77K	10x
Short	OKX NFLX-USDT-SWAP	73.560	0	get 0.0000% / 8h	3h 42m	$879K	$816K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Phoenix. 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 PhoenixbpFee OKXbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$52.53
Price spread: +0.016% → 0.000%: $1.63
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$67.9
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; OKX: live order book, 9 min ago. 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 Phoenix no order-book sample	—	—	—	—	—
Sell OKX live order book, 9 min ago	2.72 bp	20.3 bp −$20	doesn't fit	doesn't fit	doesn't fit

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	73.533	−0.021%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAPshort	0.0000%	8h	73.560	+0.016%	$879K	$816K	20x
QFEX NFLX-USD	0.0000%	1h	73.510	−0.052%	$1.1M	$1.4M	10x	as long as short
Bitget NFLXUSDT	0.0000%	8h	73.610	+0.084%	$4.3M	$559K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.560	+0.016%	$1K	$4.6M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.598	+0.068%	$10K	$52K	20x	as long as short
Phemex NFLXUSDT	0.0000%	8h	73.560	+0.016%	$1.4M	$324K	10x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.510	−0.052%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.498	−0.067%	$16K	$29K	10x	as long as short
tradeXYZ xyz:NFLX	+0.0050%	1h	73.509	−0.053%	$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	73.480	−0.092%	$65K	$139K	10x	as long as short
Gate NFLX_USDT	+0.0057%	8h	73.620	+0.098%	$1.4M	$1.2M	25x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.530	−0.024%	$151K	$37K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.569	+0.029%	$225	—	10x	as long as short
Variational Omni NFLX	+0.0175%	8h	73.552	+0.006%	$94K	$129K	—	as long as short
Binance NFLXUSDT	+0.0178%	8h	73.564	+0.022%	$5.4M	$5.4M	20x	as long as short
GRVT NFLX_USDT_Perp	+0.0216%	8h	73.572	+0.032%	$529	$143K	10x	as long as short
Injective NFLX/USDC PERP	+0.0220%	1h	77.910	+5.931%	$87K	$95K	12x	as long as short
Phoenix NFLXlong	+0.0250%	1h	73.548	long leg	$12K	$77K	10x
BloFin NFLX-USDT	+0.0299%	8h	73.580	+0.044%	$47K	$81K	20x	as long as short
Bybit NFLXUSDT	+0.0368%	8h	73.630	+0.111%	$1.3M	$875K	50x	as long as short