NATGAS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0896%/8h= −98.1% APRnext payment −$4.48 per $10,000 · paid last 24h −0.213%

Price spread now: Phemex against Bitget+0.100%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$182as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$840.843% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.976%−$98 on $10k

Price spread, last 4 days (all we have)−0.056%−$6 · spread now +0.100%, 7d avg +0.042%

Together, before fees−1.032%−$103 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.058% dearer against Bitget than usual: you sell high and buy low (spread +0.100% now, against its 7-day average of +0.042%): +$6 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NATGASUSDT	3.0000	0.0996	pay 0.0498% / 4h	3h 25m	$9.9M	$3.2M	100x
Short	Phemex NGUSDT	3.0030	0.0100	get 0.0050% / 4h	3h 25m	$1.5M	$93K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. 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 BitgetbpFee PhemexbpOrdersPrice spread, now +0.100%Rate

Funding earned: −$188.16
Price spread: +0.100% → +0.042%: $5.82
Slippage, 4 orders: −$60.27
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$266.61
Costs to cover: 0.843%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Phemex: live order book, 2 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 Bitget live order book, 3 min ago	1.67 bp	10.7 bp −$11	21.6 bp −$216	65.3 bp −$6,531	doesn't fit
Sell Phemex live order book, 2 min ago	1.66 bp	31.3 bp −$31	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	2.8409	−5.303%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0052	+0.173%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0009%	1h	3.0030	+0.100%	$669K	$91K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0017	+0.057%	$627K	$502K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0010	+0.033%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0049	+0.163%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0060%	8h	3.0052	+0.173%	$5K	—	5x	as long as short
tradeXYZ xyz:NATGAS	+0.0085%	1h	3.0021	+0.070%	$6.0M	$5.7M	10x	as long as short
Extended XNG-USD	+0.0096%	1h	3.0008	+0.028%	$110K	$375K	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0007	+0.023%	$68K	$33K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	0.000%	$37K	$218K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	0.000%	$3K	$544	10x	as long as short
Phemex NGUSDTshort	+0.0100%	4h	3.0030	+0.100%	$1.5M	$93K	10x
Hotstuff NATGAS-PERP	+0.0112%	1h	3.0026	+0.087%	$35K	—	20x	as long as short
KuCoin NATGASUSDTM	+0.0346%	4h	3.0020	+0.067%	$1.0M	$995K	20x	as long as short
Aster NATGASUSDT	+0.0394%	4h	3.0047	+0.155%	$264K	$74K	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0482% / S −0.0426%	1h	3.0025	+0.083%	$92K	—	45x	as long as short
GRVT NATGAS_USDT_Perp	+0.0492%	4h	3.0020	+0.065%	$13K	$222K	25x	as long as short
HTX NATGAS-USDT	+0.0494%	4h	3.0053	+0.177%	$106K	$212K	75x	as long as short
Gate NG_USDT	+0.0540%	8h	3.0060	+0.200%	$1.5M	$192K	100x	as long as short
BloFin NG-USDT	+0.0555%	8h	3.0030	+0.100%	$81K	$194K	20x	as long as short
OKX NG-USDT-SWAP	+0.0578%	8h	3.0020	+0.067%	$865K	$1.7M	50x	as long as short
Variational Omni NATGAS	+0.0605%	4h	3.0019	+0.065%	$316K	$439K	—	as long as short
edgeX NATGASUSDC	+0.0615%	4h	3.0029	+0.098%	$85K	$214K	20x	as long as short
Binance NATGASUSDT	+0.0626%	4h	3.0030	+0.100%	$10.2M	$28.3M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0855%	1h	3.0043	+0.145%	$56K	$35K	20x	as long as short
Bitget NATGASUSDTlong	+0.0996%	4h	3.0000	long leg	$9.9M	$3.2M	100x