BookSwim, has launched a new website that it’s calling the “the Netflix for Books” called eBookFling.com. The site lets readers virtually “swap” eBooks using the Kindle and Nook lending features.

The service is free and it only takes a second to sign up. Once you sign up, the site asks you to list eBooks in your library that you would like to share, pointing out that “sharing is caring.” You can import from either Kindle or Nook. Then you can browse titles to borrow from other users.

Lenders earn 1 credit for every 5 books they list and 1 credit for every title they end up lending out. Borrowers pay a credit for each loan. Borrowers can create a queue of books they’d like to borrow and lenders will be e-mailed or sent a text message when a borrower picks a title they are offering.

A lender can then accept the loan through Amazon or Barnes & Noble. eBookFling verifies the transaction and lets the borrower know that their book is ready for download and charges the borrower and credits the lender. The borrower has two weeks to read the content when it is automatically returned to the owner.