NATGAS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0447%/8h= −49.0% APRnext payment −$2.24 per $10,000 · paid last 24h −0.098%

Price spread now: Phemex against Binance−0.026%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$840.837% of the position

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.154%−$15 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now −0.026%, 7d avg −0.027%

Together, before fees−0.251%−$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.027%, so right now this pair is about funding alone: −$13 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.154% in total (about -8.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.24 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NATGASUSDT	3.0088	0.0547	pay 0.0274% / 4h	1h 54m	$10.3M	$28.5M	100x
Short	Phemex NGUSDT	3.0080	0.0100	get 0.0050% / 4h	1h 54m	$1.5M	$93K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Binance. 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 BinancebpFee PhemexbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$93.9
Price spread: −0.026% → −0.027%: $0.1
Slippage, 4 orders: −$61.67
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$177.46
Costs to cover: 0.837%
Break-even: never at this rate

Slippage from Binance: live order book, 2 min ago; Phemex: live order book, 4 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 Binance live order book, 2 min ago	1.66 bp	6.7 bp −$7	8.8 bp −$88	35.7 bp −$3,569	122.7 bp −$61.4K
Sell Phemex live order book, 4 min ago	4.98 bp	37.8 bp −$38	doesn't fit	doesn't fit	doesn't fit

NATGAS on 27 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
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8474	−5.363%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0055	−0.109%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0002%	1h	3.0070	−0.059%	$660K	$96K	20x	as long as short
Hotstuff NATGAS-PERP	+0.0024%	1h	3.0102	+0.047%	$35K	—	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0081	−0.022%	$630K	$500K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0068	−0.064%	$110K	$332K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0080	−0.026%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0062	−0.085%	$83K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0059%	8h	3.0103	+0.050%	$5K	—	5x	as long as short
HTX NATGAS-USDT	+0.0067%	4h	3.0087	−0.002%	$107K	$210K	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:NATGAS	+0.0087%	1h	3.0084	−0.012%	$6.0M	$5.5M	10x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0076	−0.039%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0100	+0.041%	$37K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.292%	$3K	$544	10x	as long as short
Phemex NGUSDTshort	+0.0100%	4h	3.0080	−0.026%	$1.5M	$93K	10x
GRVT NATGAS_USDT_Perp	+0.0118%	4h	3.0080	−0.027%	$22K	$222K	25x	as long as short
KuCoin NATGASUSDTM	+0.0290%	4h	3.0080	−0.026%	$1.0M	$938K	20x	as long as short
Aster NATGASUSDT	+0.0304%	4h	3.0102	+0.046%	$265K	$70K	50x	as long as short
Variational Omni NATGAS	+0.0525%	4h	3.0090	+0.007%	$318K	$432K	—	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0537% / S −0.0540%	1h	3.0085	−0.009%	$88K	—	45x	as long as short
Binance NATGASUSDTlong	+0.0547%	4h	3.0088	long leg	$10.3M	$28.5M	100x
edgeX NATGASUSDC	+0.0561%	4h	3.0070	−0.061%	$85K	$213K	20x	as long as short
Gate NG_USDT	+0.0625%	8h	3.0110	+0.074%	$1.5M	$195K	100x	as long as short
BloFin NG-USDT	+0.0637%	8h	3.0100	+0.041%	$82K	$195K	20x	as long as short
OKX NG-USDT-SWAP	+0.0653%	8h	3.0080	−0.026%	$872K	$1.8M	50x	as long as short
Bitget NATGASUSDT	+0.0970%	4h	3.0070	−0.059%	$9.9M	$3.1M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0986%	1h	3.0102	+0.048%	$56K	$35K	20x	as long as short