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: Bitget against Phemex−0.100%7-day average −0.042% · you buy dearer than you sell
Net, funding: paid 7d − costs+$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$90as in the Price arb table
costs, in and out, $10k−$840.843% of the position
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%
=Funding pays, the price is against you. Bitget is 0.058% cheaper against Phemex than usual: you would sell low and buy high (spread −0.100% now, against its 7-day average of −0.042%). If the spread goes back, that is −$6 on $10k: about 5 hours of funding at the current rate (+$27 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex NGUSDT | 3.0030 | 0.0100 | pay 0.0050% / 4h | 3h 24m | $1.5M | $93K | 10x |
| Short | Bitget NATGASUSDT | 3.0000 | 0.0996 | get 0.0498% / 4h | 3h 24m | $9.9M | $3.2M | 100x |
Phemex NGUSDT
Bitget NATGASUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Phemex. 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
- $188.16
- Price spread: −0.100% → −0.042%
- −$5.81
- Slippage, 4 orders
- −$60.27
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- $98.08
- Costs to cover
- 0.843%
- Break-even
- 3.4 days
Slippage from Phemex: live order book, 3 min ago; Bitget: 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 Phemex live order book, 3 min ago | 1.66 bp | 31.6 bp −$32 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bitget live order book, 4 min ago | 1.67 bp | 10.7 bp −$11 | 20.9 bp −$209 | 63.6 bp −$6,358 | 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 | 2.8410 | −5.395% | — | — | — | as long as short |
| SunX NATGAS-USDT | 0.0000% | 4h | 3.0052 | +0.073% | $2K | $2.4M | 20x | as long as short |
| QFEX NATGAS-USD | +0.0009% | 1h | 3.0030 | 0.000% | $669K | $91K | 20x | as long as short |
| Lighter NATGAS | +0.0032% | 1h | 3.0017 | −0.043% | $627K | $502K | 10x | as long as short |
| Vest NG-PERP | +0.0046% | 1h | 3.0010 | −0.067% | — | $14K | 10x | as long as short |
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 3.0049 | +0.063% | $82K | $26K | 10x | as long as short |
| Paradex NG-USD-PERP | +0.0060% | 8h | 3.0052 | +0.073% | $5K | — | 5x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0086% | 1h | 3.0020 | −0.033% | $6.0M | $5.7M | 10x | as long as short |
| Pacifica NATGAS | +0.0100% | 1h | 3.0007 | −0.077% | $68K | $33K | 10x | as long as short |
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 3.0000 | −0.100% | $37K | $218K | 50x | as long as short |
gTrade (Gains Network) NATGAS/USD
SunX NATGAS-USDT
QFEX NATGAS-USD
Lighter NATGAS
Vest NG-PERP
Ondo Perps NATGAS-USD.P
Paradex NG-USD-PERP
tradeXYZ xyz:NATGAS
Pacifica NATGAS
ApeX Omni NATGASUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_NATGAS_USDC_mythos | +0.0100% | 8h | 3.0000 | −0.100% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDTlong | +0.0100% | 4h | 3.0030 | long leg | $1.5M | $93K | 10x | |
| Extended XNG-USD | +0.0104% | 1h | 3.0008 | −0.073% | $110K | $375K | 5x | as long as short |
| Hotstuff NATGAS-PERP | +0.0112% | 1h | 3.0026 | −0.013% | $35K | — | 20x | as long as short |
| KuCoin NATGASUSDTM | +0.0346% | 4h | 3.0020 | −0.033% | $1.0M | $995K | 20x | as long as short |
| Aster NATGASUSDT | +0.0394% | 4h | 3.0043 | +0.042% | $264K | $74K | 50x | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0483% / S −0.0426% | 1h | 3.0035 | +0.017% | $92K | — | 45x | as long as short |
| GRVT NATGAS_USDT_Perp | +0.0492% | 4h | 3.0020 | −0.035% | $13K | $222K | 25x | as long as short |
| HTX NATGAS-USDT | +0.0497% | 4h | 3.0056 | +0.087% | $107K | $212K | 75x | as long as short |
| Gate NG_USDT | +0.0540% | 8h | 3.0060 | +0.100% | $1.5M | $192K | 100x | as long as short |
| OKX NG-USDT-SWAP | +0.0579% | 8h | 3.0020 | −0.033% | $866K | $1.7M | 50x | as long as short |
| BloFin NG-USDT | +0.0586% | 8h | 3.0030 | 0.000% | $82K | $195K | 20x | as long as short |
| Variational Omni NATGAS | +0.0605% | 4h | 3.0019 | −0.035% | $316K | $439K | — | as long as short |
| edgeX NATGASUSDC | +0.0619% | 4h | 3.0029 | −0.002% | $85K | $212K | 20x | as long as short |
| Binance NATGASUSDT | +0.0626% | 4h | 3.0030 | 0.000% | $10.2M | $28.3M | 100x | as long as short |
| Kraken Futures PF_NATGASUSD | +0.0855% | 1h | 3.0046 | +0.053% | $56K | $35K | 20x | as long as short |
| Bitget NATGASUSDTshort | +0.0996% | 4h | 3.0000 | −0.100% | $9.9M | $3.2M | 100x |
Orderly PERP_NATGAS_USDC_mythos
Extended XNG-USD
Hotstuff NATGAS-PERP
KuCoin NATGASUSDTM
Aster NATGASUSDT
GMX NATGAS/USD [ETH-USDC]
GRVT NATGAS_USDT_Perp
HTX NATGAS-USDT
Gate NG_USDT
OKX NG-USDT-SWAP
BloFin NG-USDT
Variational Omni NATGAS
edgeX NATGASUSDC
Binance NATGASUSDT
Kraken Futures PF_NATGASUSD