Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.50 per $10,000 · paid last 24h −0.005%
Price spread now: GRVT against Phemex−0.036%7-day average +0.010% · you buy dearer than you sell
Net, funding: paid 7d − costs−$93as in the Funding arb table
Net, price: spread back to 7d avg − costs−$90as in the Price arb table
costs, in and out, $10k−$850.853% of the position
Funding, last 7 days−0.076%−$8 on $10k
+Price spread, last 3 days (all we have)+0.021%+$2 · spread now −0.036%, 7d avg +0.010%
=Together, before fees−0.055%+ Points / potential airdropGRVT: Active · farm board−$5 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and GRVT is 0.046% cheaper against Phemex than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.010%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex NGUSDT | 2.9960 | 0.0100 | pay 0.0050% / 4h | 17m 18s | $1.5M | $97K | 10x |
| Short | GRVT NATGAS_USDT_Perp | 2.9949 | 0 | get 0.0000% / 4h | 17m 18s | $13K | $238K | 25x |
Phemex NGUSDT
GRVT NATGAS_USDT_PerpFunding history
latest
Range statsloading…
Price spread between the two exchanges
GRVT 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
- −$21
- Price spread: −0.036% → +0.010%
- −$4.6
- Slippage, 4 orders
- −$64.3
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Net
- −$110.9
- Costs to cover
- 0.853%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 1 min ago; GRVT: live order book, 60 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 | 1.67 bp | 34.4 bp −$34 | doesn't fit | doesn't fit | doesn't fit |
| Sell GRVT live order book, 60 min ago | 1.67 bp | 9.5 bp −$10 | 16.7 bp −$167 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| GRVT NATGAS_USDT_Perpshort | 0.0000% | 4h | 2.9949 | −0.036% | $13K | $238K | 25x | |
| SunX NATGAS-USDT | 0.0000% | 4h | 2.9971 | +0.037% | $2K | $2.6M | 20x | as long as short |
| HTX NATGAS-USDT | 0.0000% | 4h | 2.9987 | +0.090% | $98K | $212K | 75x | as long as short |
| Hotstuff NATGAS-PERP | +0.0008% | 1h | 2.9948 | −0.040% | $35K | — | 20x | as long as short |
| QFEX NATGAS-USD | +0.0030% | 1h | 2.9950 | −0.033% | $657K | $86K | 20x | as long as short |
| Lighter NATGAS | +0.0032% | 1h | 2.9965 | +0.017% | $616K | $419K | 10x | as long as short |
| Vest NG-PERP | +0.0046% | 1h | 2.9950 | −0.033% | — | $378 | 10x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0050% | 1h | 2.9947 | −0.043% | $5.9M | $6.0M | 10x | as long as short |
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 2.9940 | −0.067% | $84K | $43K | 10x | as long as short |
| Extended XNG-USD | +0.0056% | 1h | 2.9938 | −0.074% | $110K | $453K | 5x | as long as short |
SunX NATGAS-USDT
HTX NATGAS-USDT
Hotstuff NATGAS-PERP
QFEX NATGAS-USD
Lighter NATGAS
Vest NG-PERP
tradeXYZ xyz:NATGAS
Ondo Perps NATGAS-USD.P
Extended XNG-USDShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster NATGASUSDT | +0.0066% | 4h | 2.9960 | 0.000% | $265K | $73K | 50x | as long as short |
| Paradex NG-USD-PERP | +0.0066% | 8h | 2.9951 | −0.031% | $5K | — | 5x | as long as short |
| Pacifica NATGAS | +0.0100% | 1h | 2.9948 | −0.041% | $68K | $33K | 10x | as long as short |
| KuCoin NATGASUSDTM | +0.0100% | 4h | 2.9950 | −0.033% | $1.0M | $1.2M | 20x | as long as short |
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 2.9900 | −0.200% | $36K | $217K | 50x | as long as short |
| Orderly PERP_NATGAS_USDC_mythos | +0.0100% | 8h | 3.0000 | +0.134% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDTlong | +0.0100% | 4h | 2.9960 | long leg | $1.5M | $97K | 10x | |
| BloFin NG-USDT | +0.0113% | 8h | 2.9940 | −0.067% | $80K | $189K | 20x | as long as short |
| Variational Omni NATGAS | +0.0115% | 4h | 2.9951 | −0.030% | $311K | $443K | — | as long as short |
| OKX NG-USDT-SWAP | +0.0133% | 8h | 2.9950 | −0.033% | $856K | $1.7M | 50x | as long as short |
| Gate NG_USDT | +0.0173% | 8h | 2.9980 | +0.067% | $1.5M | $285K | 100x | as long as short |
| Binance NATGASUSDT | +0.0192% | 4h | 2.9950 | −0.033% | $10.1M | $30.0M | 100x | as long as short |
| edgeX NATGASUSDC | +0.0230% | 4h | 2.9951 | −0.031% | $85K | $212K | 20x | as long as short |
| Bitget NATGASUSDT | +0.0286% | 4h | 2.9930 | −0.100% | $10.0M | $3.7M | 100x | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0406% / S −0.0333% | 1h | 2.9955 | −0.017% | $93K | — | 45x | as long as short |
| Kraken Futures PF_NATGASUSD | +0.1217% | 1h | 2.9970 | +0.033% | $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
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