NATGAS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0433%/8h= +47.4% APRnext payment +$2.16 per $10,000 · paid last 24h +0.101%

Price spread now: edgeX against Phemex−0.101%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$129as in the Price arb table

costs, in and out, $10k−$1181.183% of the position

Long on Phemex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.176%+$18 on $10k

Price spread, last 4 days (all we have)+0.098%+$10 · spread now −0.101%, 7d avg +0.007%

Together, before fees+0.275%+ Points / potential airdropedgeX: Active · farm board+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.108% cheaper against Phemex than usual: you would sell low and buy high (spread −0.101% now, against its 7-day average of +0.007%). If the spread goes back, that is −$11 on $10k: about 20 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.176% in total) that is about 4.3 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.176% in total (about 9.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.16 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NGUSDT	3.0100	0.0100	pay 0.0050% / 4h	1h 17m	$1.5M	$93K	10x
Short	edgeX NATGASUSDC	3.0070	0.0533	get 0.0266% / 4h	1h 17m	$85K	$213K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Phemex. 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 PhemexbpFee edgeXbpOrdersPrice spread, now −0.101%Rate

Funding earned: $90.93
Price spread: −0.101% → +0.007%: −$10.77
Slippage, 4 orders: −$97.31
Fee Phemex: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$38.16
Costs to cover: 1.183%
Break-even: 9.9 days

Slippage from Phemex: live order book, 1 min ago; edgeX: live order book, 24 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, 1 min ago	1.66 bp	32.3 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 24 min ago	13.31 bp	21.0 bp −$21	29.2 bp −$292	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	2.8476	−5.395%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0112	+0.040%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0002%	1h	3.0080	−0.066%	$660K	$96K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0092	−0.027%	$630K	$502K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0076	−0.081%	$111K	$283K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0090	−0.033%	—	$14K	10x	as long as short
HTX NATGAS-USDT	+0.0048%	4h	3.0106	+0.020%	$107K	$202K	75x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	3.0081	−0.063%	$6.0M	$5.4M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0112	+0.040%	$83K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0054%	8h	3.0097	−0.009%	$5K	—	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NATGAS	+0.0100%	1h	3.0074	−0.086%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0100	0.000%	$37K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0100	0.000%	$3K	$544	10x	as long as short
Phemex NGUSDTlong	+0.0100%	4h	3.0100	long leg	$1.5M	$93K	10x
GRVT NATGAS_USDT_Perp	+0.0140%	4h	3.0078	−0.072%	$22K	$211K	25x	as long as short
Hotstuff NATGAS-PERP	+0.0216%	1h	3.0088	−0.040%	$35K	—	20x	as long as short
KuCoin NATGASUSDTM	+0.0234%	4h	3.0050	−0.166%	$1.0M	$912K	20x	as long as short
Aster NATGASUSDT	+0.0269%	4h	3.0104	+0.014%	$265K	$68K	50x	as long as short
Variational Omni NATGAS	+0.0493%	4h	3.0070	−0.101%	$319K	$393K	—	as long as short
Binance NATGASUSDT	+0.0512%	4h	3.0090	−0.033%	$10.3M	$28.6M	100x	as long as short
edgeX NATGASUSDCshort	+0.0533%	4h	3.0070	−0.101%	$85K	$213K	20x
GMX NATGAS/USD [ETH-USDC]	L +0.0557% / S −0.0564%	1h	3.0095	−0.017%	$88K	—	45x	as long as short
Gate NG_USDT	+0.0610%	8h	3.0090	−0.033%	$1.5M	$196K	100x	as long as short
BloFin NG-USDT	+0.0637%	8h	3.0080	−0.066%	$83K	$198K	20x	as long as short
OKX NG-USDT-SWAP	+0.0652%	8h	3.0080	−0.066%	$876K	$1.8M	50x	as long as short
Bitget NATGASUSDT	+0.0944%	4h	3.0060	−0.133%	$9.9M	$3.1M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0986%	1h	3.0107	+0.023%	$56K	$36K	20x	as long as short