Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.50 per $10,000 · paid last 24h −0.007%
Price spread now: HTX against Phemex+0.033%7-day average +0.057% · you sell dearer than you buy
Net, funding: paid 7d − costs−$98as in the Funding arb table
Net, price: spread back to 7d avg − costs−$83as in the Price arb table
costs, in and out, $10k−$810.811% of the position
Funding, last 7 days−0.173%−$17 on $10k
+Price spread, last 3 days (all we have)+0.033%+$3 · spread now +0.033%, 7d avg +0.057%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and HTX is 0.023% cheaper against Phemex than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.057%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex NGUSDT | 2.9950 | 0.0100 | pay 0.0050% / 4h | 35m 38s | $1.5M | $97K | 10x |
| Short | HTX NATGAS-USDT | 2.9960 | 0 | get 0.0000% / 4h | 35m 38s | $98K | $214K | 75x |
Phemex NGUSDT
HTX NATGAS-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX 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: +0.033% → +0.057%
- −$2.35
- Slippage, 4 orders
- −$57.09
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$104.44
- Costs to cover
- 0.811%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 2 min ago; HTX: live order book, 41 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, 2 min ago | 1.67 bp | 29.1 bp −$29 | doesn't fit | doesn't fit | doesn't fit |
| Sell HTX live order book, 41 min ago | 4.17 bp | 10.5 bp −$10 | 18.7 bp −$187 | 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 | |
|---|---|---|---|---|---|---|---|---|
| SunX NATGAS-USDT | 0.0000% | 4h | 2.9962 | +0.040% | $2K | $2.6M | 20x | as long as short |
| HTX NATGAS-USDTshort | 0.0000% | 4h | 2.9960 | +0.033% | $98K | $214K | 75x | |
| Hotstuff NATGAS-PERP | +0.0016% | 1h | 2.9936 | −0.047% | $35K | — | 20x | as long as short |
| QFEX NATGAS-USD | +0.0030% | 1h | 2.9930 | −0.067% | $657K | $86K | 20x | as long as short |
| Lighter NATGAS | +0.0032% | 1h | 2.9952 | +0.007% | $619K | $416K | 10x | as long as short |
| Vest NG-PERP | +0.0046% | 1h | 2.9930 | −0.067% | — | $378 | 10x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0050% | 1h | 2.9933 | −0.057% | $5.9M | $6.0M | 10x | as long as short |
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 2.9958 | +0.027% | $84K | $43K | 10x | as long as short |
| Paradex NG-USD-PERP | +0.0075% | 8h | 2.9940 | −0.032% | $5K | — | 5x | as long as short |
| GRVT NATGAS_USDT_Perp | +0.0082% | 4h | 2.9933 | −0.057% | $13K | $238K | 25x | as long as short |
SunX NATGAS-USDT
Hotstuff NATGAS-PERP
QFEX NATGAS-USD
Lighter NATGAS
Vest NG-PERP
tradeXYZ xyz:NATGAS
Ondo Perps NATGAS-USD.P
Paradex NG-USD-PERP
GRVT NATGAS_USDT_PerpShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica NATGAS | +0.0100% | 1h | 2.9936 | −0.047% | $68K | $33K | 10x | as long as short |
| KuCoin NATGASUSDTM | +0.0100% | 4h | 2.9930 | −0.067% | $1.0M | $1.2M | 20x | as long as short |
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 2.9900 | −0.167% | $36K | $216K | 50x | as long as short |
| Orderly PERP_NATGAS_USDC_mythos | +0.0100% | 8h | 2.9900 | −0.167% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDTlong | +0.0100% | 4h | 2.9950 | long leg | $1.5M | $97K | 10x | |
| Extended XNG-USD | +0.0128% | 1h | 2.9926 | −0.081% | $110K | $471K | 5x | as long as short |
| OKX NG-USDT-SWAP | +0.0191% | 8h | 2.9940 | −0.033% | $857K | $1.7M | 50x | as long as short |
| Gate NG_USDT | +0.0191% | 8h | 2.9970 | +0.067% | $1.5M | $285K | 100x | as long as short |
| Aster NATGASUSDT | +0.0195% | 4h | 2.9946 | −0.012% | $265K | $105K | 50x | as long as short |
| BloFin NG-USDT | +0.0207% | 8h | 2.9940 | −0.033% | $80K | $189K | 20x | as long as short |
| Variational Omni NATGAS | +0.0226% | 4h | 2.9942 | −0.028% | $311K | $443K | — | as long as short |
| Binance NATGASUSDT | +0.0312% | 4h | 2.9945 | −0.017% | $10.1M | $30.2M | 100x | as long as short |
| edgeX NATGASUSDC | +0.0348% | 4h | 2.9942 | −0.028% | $85K | $212K | 20x | as long as short |
| Bitget NATGASUSDT | +0.0396% | 4h | 2.9910 | −0.134% | $10.0M | $3.9M | 100x | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0406% / S −0.0333% | 1h | 2.9945 | −0.017% | $93K | — | 45x | as long as short |
| Kraken Futures PF_NATGASUSD | +0.1217% | 1h | 2.9955 | +0.016% | $52K | $39K | 20x | as long as short |
Pacifica NATGAS
KuCoin NATGASUSDTM
ApeX Omni NATGASUSDT
Orderly PERP_NATGAS_USDC_mythos
Extended XNG-USD
OKX NG-USDT-SWAP
Gate NG_USDT
Aster NATGASUSDT
BloFin NG-USDT
Variational Omni NATGAS
Binance NATGASUSDT
edgeX NATGASUSDC
Bitget NATGASUSDT
GMX NATGAS/USD [ETH-USDC]
Kraken Futures PF_NATGASUSD