Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h +0.004%

Price spread now: Variational Omni against Phoenix+0.080%84s7-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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.080% dearer against Phoenix than usual: you sell high and buy low (spread +0.080% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 23 days. The two prices were read 84 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	73.443	0.0229	pay 0.0029% / 1h	4m 09s	$12K	$77K	10x
Short	Variational Omni NFLX	73.501	0.0217	get 0.0217% / 8h	7h 04m	$94K	$139K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.080%Rate

Funding earned: −$2.45
Price spread: +0.080% → 0.000%: $7.95
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$1.5
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Phoenix: no order-book sample; Variational Omni: RFQ quote, 5 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 Variational Omni RFQ quote, 5 min ago	3.99 bp	doesn't fit	41.5 bp −$415	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	73.427	−0.022%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.500	+0.078%	$883K	$947K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	73.390	−0.072%	$1.1M	$1.5M	10x	as long as short
Gate NFLX_USDT	0.0000%	8h	73.510	+0.091%	$1.4M	$1.2M	25x	as long as short
Bitget NFLXUSDT	0.0000%	8h	73.490	+0.064%	$4.3M	$569K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.503	+0.082%	$2K	$4.9M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.412	−0.042%	$10K	$52K	20x	as long as short
Phemex NFLXUSDT	0.0000%	8h	73.500	+0.078%	$1.4M	$329K	10x	as long as short
Vest NFLX-USD-PERP	+0.0046%	1h	73.390	−0.072%	—	$21K	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.376	−0.091%	$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:NFLX	+0.0050%	1h	73.385	−0.079%	$5.0M	$2.9M	10x	as long as short
Ondo Perps NFLX-USD.P	+0.0050%	1h	73.430	−0.018%	$64K	$151K	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.420	−0.031%	$151K	$37K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.482	+0.053%	$225	—	10x	as long as short
Variational Omni NFLXshort	+0.0217%	8h	73.501	+0.080%	$94K	$139K	—
Injective NFLX/USDC PERP	+0.0220%	1h	74.140	+0.949%	$82K	$74K	12x	as long as short
Binance NFLXUSDT	+0.0223%	8h	73.498	+0.075%	$5.4M	$5.4M	20x	as long as short
Phoenix NFLXlong	+0.0229%	1h	73.443	long leg	$12K	$77K	10x
GRVT NFLX_USDT_Perp	+0.0237%	8h	73.500	+0.078%	$550	$150K	10x	as long as short
BloFin NFLX-USDT	+0.0370%	8h	73.500	+0.078%	$47K	$82K	20x	as long as short
Bybit NFLXUSDT	+0.0461%	8h	73.460	+0.023%	$1.3M	$903K	50x	as long as short