Funding you earn now, next payment 00:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h −0.010%
Price spread now: Lighter against Extended+0.091%7-day average −0.112% · you sell dearer than you buy
Net, funding: paid 7d − costs+$40as in the Funding arb table
Net, price: spread back to 7d avg − costs+$1as in the Price arb table
costs, in and out, $10k−$200.198% of the position
Funding, last 7 days+0.597%+$60 on $10k
+Price spread, last 4 days (all we have)−0.045%−$5 · spread now +0.091%, 7d avg −0.112%
=Together, before fees+0.552%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board+$55 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.204% dearer against Extended than usual: you sell high and buy low (spread +0.091% now, against its 7-day average of −0.112%): +$20 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 21 days. Mind the row above: over the last 7 days funding on this pair paid +0.597%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended XNG-USD | 2.9938 | 0.0064 | pay 0.0008% / 1h | 17m 45s | $110K | $453K | 5x |
| Short | Lighter NATGAS | 2.9965 | 0.0032 | get 0.0004% / 1h | 17m 45s | $616K | $419K | 10x |
Extended XNG-USD
Lighter NATGASFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Extended. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$6.72
- Price spread: +0.091% → −0.112%
- $20.36
- Slippage, 4 orders
- −$14.79
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$6.15
- Costs to cover
- 0.198%
- Break-even
- from the start
Slippage from Extended: live order book, 60 min ago; Lighter: live order book, 53 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 Extended live order book, 60 min ago | 0.67 bp | 4.2 bp −$4 | 8.1 bp −$81 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 53 min ago | 0.50 bp | 3.7 bp −$4 | 18.0 bp −$180 | 91.8 bp −$9,179 | doesn't fit |
NATGAS on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff NATGAS-PERP | −0.0024% | 1h | 2.9947 | +0.031% | $35K | — | 20x | as long as short |
| GRVT NATGAS_USDT_Perp | 0.0000% | 4h | 2.9948 | +0.034% | $13K | $238K | 25x | as long as short |
| SunX NATGAS-USDT | 0.0000% | 4h | 2.9972 | +0.115% | $2K | $2.6M | 20x | as long as short |
| HTX NATGAS-USDT | 0.0000% | 4h | 2.9987 | +0.165% | $98K | $212K | 75x | as long as short |
| QFEX NATGAS-USD | +0.0030% | 1h | 2.9950 | +0.041% | $657K | $86K | 20x | as long as short |
| Lighter NATGASshort | +0.0032% | 1h | 2.9965 | +0.091% | $616K | $419K | 10x | |
| Vest NG-PERP | +0.0046% | 1h | 2.9950 | +0.041% | — | $378 | 10x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0050% | 1h | 2.9947 | +0.031% | $5.9M | $6.0M | 10x | as long as short |
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 2.9940 | +0.008% | $84K | $43K | 10x | as long as short |
| Extended XNG-USDlong | +0.0064% | 1h | 2.9938 | long leg | $110K | $453K | 5x |
Hotstuff NATGAS-PERP
GRVT NATGAS_USDT_Perp
SunX NATGAS-USDT
HTX NATGAS-USDT
QFEX NATGAS-USD
Vest NG-PERP
tradeXYZ xyz:NATGAS
Ondo Perps NATGAS-USD.PShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster NATGASUSDT | +0.0066% | 4h | 2.9960 | +0.075% | $265K | $73K | 50x | as long as short |
| Paradex NG-USD-PERP | +0.0066% | 8h | 2.9951 | +0.043% | $5K | — | 5x | as long as short |
| Pacifica NATGAS | +0.0100% | 1h | 2.9948 | +0.034% | $68K | $33K | 10x | as long as short |
| KuCoin NATGASUSDTM | +0.0100% | 4h | 2.9950 | +0.041% | $1.0M | $1.2M | 20x | as long as short |
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 2.9900 | −0.126% | $36K | $217K | 50x | as long as short |
| Orderly PERP_NATGAS_USDC_mythos | +0.0100% | 8h | 3.0000 | +0.208% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDT | +0.0100% | 4h | 2.9960 | +0.075% | $1.5M | $97K | 10x | as long as short |
| BloFin NG-USDT | +0.0113% | 8h | 2.9940 | +0.008% | $80K | $189K | 20x | as long as short |
| Variational Omni NATGAS | +0.0115% | 4h | 2.9951 | +0.044% | $311K | $443K | — | as long as short |
| OKX NG-USDT-SWAP | +0.0133% | 8h | 2.9950 | +0.041% | $856K | $1.7M | 50x | as long as short |
| Gate NG_USDT | +0.0174% | 8h | 2.9980 | +0.141% | $1.5M | $285K | 100x | as long as short |
| Binance NATGASUSDT | +0.0192% | 4h | 2.9950 | +0.041% | $10.1M | $30.0M | 100x | as long as short |
| edgeX NATGASUSDC | +0.0252% | 4h | 2.9951 | +0.043% | $85K | $212K | 20x | as long as short |
| Bitget NATGASUSDT | +0.0286% | 4h | 2.9930 | −0.026% | $10.0M | $3.7M | 100x | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0406% / S −0.0333% | 1h | 2.9955 | +0.058% | $93K | — | 45x | as long as short |
| Kraken Futures PF_NATGASUSD | +0.1217% | 1h | 2.9970 | +0.108% | $52K | $39K | 20x | as long as short |
Aster NATGASUSDT
Paradex NG-USD-PERP
Pacifica NATGAS
KuCoin NATGASUSDTM
ApeX Omni NATGASUSDT
Orderly PERP_NATGAS_USDC_mythos
Phemex NGUSDT
BloFin NG-USDT
Variational Omni NATGAS
OKX NG-USDT-SWAP
Gate NG_USDT
Binance NATGASUSDT
edgeX NATGASUSDC
Bitget NATGASUSDT
GMX NATGAS/USD [ETH-USDC]
Kraken Futures PF_NATGASUSD