Funding you earn now, next payment 08:00 UTC−0.0424%/8h= −46.4% APRpaid last 24h −0.072%
Price spread now: Phemex against Gate−0.133%49s7-day average −0.029% · you buy dearer than you sell
Net, funding: paid 7d − costs−$145as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1141.135% of the position
Funding, last 7 days−0.316%−$32 on $10k
+Price spread, last 4 days (all we have)+0.078%+$8 · spread now −0.133%, 7d avg −0.029%
=Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Phemex is 0.104% cheaper against Gate than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.029%). Swap the legs. The two prices were read 49 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 | Gate NG_USDT | 3.0090 | 0.0524 | pay 0.0524% / 8h | 3h 48m | $1.5M | $191K | 100x |
| Short | Phemex NGUSDT | 3.0050 | 0.0100 | get 0.0050% / 4h | 3h 48m | $1.5M | $93K | 10x |
Gate NG_USDT
Phemex NGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Gate. 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
- −$89.04
- Price spread: −0.133% → −0.029%
- −$10.42
- Slippage, 4 orders
- −$86.54
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$213
- Costs to cover
- 1.135%
- Break-even
- never at this rate
Slippage from Gate: live order book, 4 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 Gate live order book, 4 min ago | 1.66 bp | 22.9 bp −$23 | 65.4 bp −$654 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 1.66 bp | 33.5 bp −$34 | 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 | 2.8456 | −5.430% | — | — | — | as long as short |
| SunX NATGAS-USDT | 0.0000% | 4h | 3.0082 | −0.027% | $2K | $2.4M | 20x | as long as short |
| QFEX NATGAS-USD | +0.0009% | 1h | 3.0050 | −0.133% | $669K | $91K | 20x | as long as short |
| Lighter NATGAS | +0.0032% | 1h | 3.0042 | −0.160% | $621K | $494K | 10x | as long as short |
| Extended XNG-USD | +0.0032% | 1h | 3.0028 | −0.206% | $110K | $404K | 5x | as long as short |
| Hotstuff NATGAS-PERP | +0.0032% | 1h | 3.0041 | −0.163% | $35K | — | 20x | as long as short |
| Vest NG-PERP | +0.0046% | 1h | 3.0030 | −0.199% | — | $14K | 10x | as long as short |
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 3.0030 | −0.199% | $82K | $26K | 10x | as long as short |
| Paradex NG-USD-PERP | +0.0067% | 8h | 3.0080 | −0.034% | $5K | — | 5x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0089% | 1h | 3.0043 | −0.156% | $6.0M | $5.7M | 10x | as long as short |
gTrade (Gains Network) NATGAS/USD
SunX NATGAS-USDT
QFEX NATGAS-USD
Lighter NATGAS
Extended XNG-USD
Hotstuff NATGAS-PERP
Vest NG-PERP
Ondo Perps NATGAS-USD.P
Paradex NG-USD-PERP
tradeXYZ xyz:NATGASShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica NATGAS | +0.0100% | 1h | 3.0031 | −0.196% | $68K | $33K | 10x | as long as short |
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 3.0000 | −0.299% | $37K | $217K | 50x | as long as short |
| Orderly PERP_NATGAS_USDC_mythos | +0.0100% | 8h | 3.0000 | −0.299% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDTshort | +0.0100% | 4h | 3.0050 | −0.133% | $1.5M | $93K | 10x | |
| KuCoin NATGASUSDTM | +0.0330% | 4h | 3.0050 | −0.133% | $1.0M | $1.0M | 20x | as long as short |
| Aster NATGASUSDT | +0.0368% | 4h | 3.0078 | −0.038% | $265K | $73K | 50x | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0470% / S −0.0411% | 1h | 3.0065 | −0.083% | $92K | — | 45x | as long as short |
| Gate NG_USDTlong | +0.0524% | 8h | 3.0090 | long leg | $1.5M | $191K | 100x | |
| GRVT NATGAS_USDT_Perp | +0.0546% | 4h | 3.0030 | −0.199% | $25K | $218K | 25x | as long as short |
| HTX NATGAS-USDT | +0.0547% | 4h | 3.0070 | −0.066% | $107K | $214K | 75x | as long as short |
| OKX NG-USDT-SWAP | +0.0547% | 8h | 3.0050 | −0.133% | $861K | $1.7M | 50x | as long as short |
| Variational Omni NATGAS | +0.0561% | 4h | 3.0040 | −0.167% | $317K | $449K | — | as long as short |
| BloFin NG-USDT | +0.0575% | 8h | 3.0020 | −0.233% | $81K | $191K | 20x | as long as short |
| edgeX NATGASUSDC | +0.0587% | 4h | 3.0040 | −0.167% | $85K | $212K | 20x | as long as short |
| Binance NATGASUSDT | +0.0591% | 4h | 3.0060 | −0.100% | $10.2M | $28.4M | 100x | as long as short |
| Kraken Futures PF_NATGASUSD | +0.0855% | 1h | 3.0071 | −0.063% | $54K | $33K | 20x | as long as short |
| Bitget NATGASUSDT | +0.0982% | 4h | 3.0020 | −0.233% | $9.9M | $3.2M | 100x | as long as short |
Pacifica NATGAS
ApeX Omni NATGASUSDT
Orderly PERP_NATGAS_USDC_mythos
KuCoin NATGASUSDTM
Aster NATGASUSDT
GMX NATGAS/USD [ETH-USDC]
GRVT NATGAS_USDT_Perp
HTX NATGAS-USDT
OKX NG-USDT-SWAP
Variational Omni NATGAS
BloFin NG-USDT
edgeX NATGASUSDC
Binance NATGASUSDT
Kraken Futures PF_NATGASUSD
Bitget NATGASUSDT