Funding you earn now, next payment 08:00 UTC−0.0028%/8h= −3.0% APRnext payment −$0.03 per $10,000 · paid last 24h −0.004%
Price spread now: QFEX against Lighter−0.010%7-day average +0.086% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$300.299% of the position
Funding, last 4 days (all we have)−0.770%−$77 on $10k
+Price spread, last 4 days (all we have)−0.084%−$8 · spread now −0.010%, 7d avg +0.086%
=Together, before fees−0.855%+ Points / potential airdropLighter: Season 3 · farm board−$85 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and QFEX is 0.096% cheaper against Lighter than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.086%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter NATGAS | 3.0013 | 0.0032 | pay 0.0004% / 1h | 49m 32s | $630K | $494K | 10x |
| Short | QFEX NATGAS-USD | 3.0010 | 0.0004 | get 0.0001% / 1h | 49m 32s | $659K | $96K | 20x |
Lighter NATGAS
QFEX NATGAS-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX against Lighter. 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
- −$5.81
- Price spread: −0.010% → +0.086%
- −$9.58
- Slippage, 4 orders
- −$19.89
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$45.28
- Costs to cover
- 0.299%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 46 min ago; QFEX: live order book, 30 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 Lighter live order book, 46 min ago | 0.83 bp | 4.1 bp −$4 | 15.0 bp −$150 | 80.8 bp −$8,078 | doesn't fit |
| Sell QFEX live order book, 30 min ago | 3.33 bp | 8.3 bp −$8 | 8.3 bp −$83 | 12.5 bp −$1,250 | 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 | 2.8394 | −5.394% | — | — | — | as long as short |
| SunX NATGAS-USDT | 0.0000% | 4h | 3.0042 | +0.097% | $2K | $2.4M | 20x | as long as short |
| QFEX NATGAS-USDshort | +0.0004% | 1h | 3.0010 | −0.010% | $659K | $96K | 20x | |
| Lighter NATGASlong | +0.0032% | 1h | 3.0013 | long leg | $630K | $494K | 10x | |
| Extended XNG-USD | +0.0032% | 1h | 3.0007 | −0.019% | $111K | $283K | 5x | as long as short |
| HTX NATGAS-USDT | +0.0037% | 4h | 3.0054 | +0.137% | $117K | $216K | 75x | as long as short |
| Vest NG-PERP | +0.0046% | 1h | 3.0030 | +0.057% | — | $14K | 10x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0050% | 1h | 3.0012 | −0.003% | $6.0M | $5.3M | 10x | as long as short |
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 3.0010 | −0.010% | $82K | $26K | 10x | as long as short |
| Paradex NG-USD-PERP | +0.0052% | 8h | 3.0023 | +0.035% | $5K | — | 5x | as long as short |
gTrade (Gains Network) NATGAS/USD
SunX NATGAS-USDT
Extended XNG-USD
HTX NATGAS-USDT
Vest NG-PERP
tradeXYZ xyz:NATGAS
Ondo Perps NATGAS-USD.P
Paradex NG-USD-PERPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff NATGAS-PERP | +0.0096% | 1h | 3.0014 | +0.003% | $35K | — | 20x | as long as short |
| Pacifica NATGAS | +0.0100% | 1h | 2.9997 | −0.053% | $68K | $30K | 10x | as long as short |
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 3.0000 | −0.043% | $37K | $216K | 50x | as long as short |
| Orderly PERP_NATGAS_USDC_mythos | +0.0100% | 8h | 3.0000 | −0.043% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDT | +0.0100% | 4h | 3.0020 | +0.023% | $1.5M | $92K | 10x | as long as short |
| GRVT NATGAS_USDT_Perp | +0.0122% | 4h | 3.0020 | +0.024% | $15K | $222K | 25x | as long as short |
| KuCoin NATGASUSDTM | +0.0202% | 4h | 3.0010 | −0.010% | $1.0M | $892K | 20x | as long as short |
| Aster NATGASUSDT | +0.0235% | 4h | 3.0019 | +0.019% | $264K | $65K | 50x | as long as short |
| Variational Omni NATGAS | +0.0450% | 4h | 3.0019 | +0.020% | $318K | $393K | — | as long as short |
| Binance NATGASUSDT | +0.0475% | 4h | 3.0010 | −0.010% | $10.3M | $28.5M | 100x | as long as short |
| edgeX NATGASUSDC | +0.0484% | 4h | 3.0020 | +0.022% | $85K | $212K | 20x | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0573% / S −0.0584% | 1h | 3.0025 | +0.040% | $88K | — | 45x | as long as short |
| Gate NG_USDT | +0.0577% | 8h | 3.0040 | +0.090% | $1.5M | $195K | 100x | as long as short |
| OKX NG-USDT-SWAP | +0.0651% | 8h | 3.0010 | −0.010% | $868K | $1.7M | 50x | as long as short |
| BloFin NG-USDT | +0.0673% | 8h | 3.0040 | +0.090% | $83K | $198K | 20x | as long as short |
| Kraken Futures PF_NATGASUSD | +0.0862% | 1h | 3.0038 | +0.083% | $56K | $36K | 20x | as long as short |
| Bitget NATGASUSDT | +0.0902% | 4h | 2.9990 | −0.077% | $9.9M | $3.1M | 100x | as long as short |
Hotstuff NATGAS-PERP
Pacifica NATGAS
ApeX Omni NATGASUSDT
Orderly PERP_NATGAS_USDC_mythos
Phemex NGUSDT
GRVT NATGAS_USDT_Perp
KuCoin NATGASUSDTM
Aster NATGASUSDT
Variational Omni NATGAS
Binance NATGASUSDT
edgeX NATGASUSDC
GMX NATGAS/USD [ETH-USDC]
Gate NG_USDT
OKX NG-USDT-SWAP
BloFin NG-USDT
Kraken Futures PF_NATGASUSD
Bitget NATGASUSDT