Funding you earn now, next payment 04:00 UTC+0.0010%/8h= +1.1% APRnext payment +$0.01 per $10,000 · paid last 24h +0.004%
Price spread now: Lighter against QFEX+0.007%7-day average −0.090% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$280.285% of the position
Funding, last 4 days (all we have)+0.770%+$77 on $10k
+Price spread, last 4 days (all we have)+0.210%+$21 · spread now +0.007%, 7d avg −0.090%
=Together, before fees+0.980%+ Points / potential airdropLighter: Season 3 · farm board+$98 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Lighter is 0.097% dearer against QFEX than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.090%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | QFEX NATGAS-USD | 3.0050 | 0.0022 | pay 0.0003% / 1h | 39m 14s | $659K | $85K | 20x |
| Short | Lighter NATGAS | 3.0052 | 0.0032 | get 0.0004% / 1h | 39m 14s | $619K | $494K | 10x |
QFEX NATGAS-USD
Lighter NATGASFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against QFEX. 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
- $2.2
- Price spread: +0.007% → −0.090%
- $9.71
- Slippage, 4 orders
- −$18.48
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$16.57
- Costs to cover
- 0.285%
- Break-even
- 59.7 days
Slippage from QFEX: live order book, 70 min ago; Lighter: live order book, 11 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 QFEX live order book, 70 min ago | 1.67 bp | 9.9 bp −$10 | 10.0 bp −$100 | 14.8 bp −$1,481 | doesn't fit |
| Sell Lighter live order book, 11 min ago | 0.83 bp | 5.4 bp −$5 | 19.0 bp −$190 | 80.9 bp −$8,093 | 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 | 3.0082 | +0.106% | $2K | $2.4M | 20x | as long as short |
| Hotstuff NATGAS-PERP | +0.0016% | 1h | 3.0056 | +0.020% | $35K | — | 20x | as long as short |
| QFEX NATGAS-USDlong | +0.0022% | 1h | 3.0050 | long leg | $659K | $85K | 20x | |
| Lighter NATGASshort | +0.0032% | 1h | 3.0052 | +0.007% | $619K | $494K | 10x | |
| Extended XNG-USD | +0.0032% | 1h | 3.0040 | −0.034% | $110K | $437K | 5x | as long as short |
| Vest NG-PERP | +0.0046% | 1h | 3.0050 | 0.000% | — | $14K | 10x | as long as short |
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 3.0080 | +0.100% | $82K | $26K | 10x | as long as short |
| Paradex NG-USD-PERP | +0.0056% | 8h | 3.0066 | +0.053% | $5K | — | 5x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0097% | 1h | 3.0048 | −0.007% | $6.0M | $5.9M | 10x | as long as short |
| Pacifica NATGAS | +0.0100% | 1h | 3.0046 | −0.013% | $68K | $33K | 10x | as long as short |
SunX NATGAS-USDT
Hotstuff NATGAS-PERP
Extended XNG-USD
Vest NG-PERP
Ondo Perps NATGAS-USD.P
Paradex NG-USD-PERP
tradeXYZ xyz:NATGAS
Pacifica NATGASShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 3.0100 | +0.166% | $37K | $216K | 50x | as long as short |
| Orderly PERP_NATGAS_USDC_mythos | +0.0100% | 8h | 3.0000 | −0.166% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDT | +0.0100% | 4h | 3.0050 | 0.000% | $1.5M | $94K | 10x | as long as short |
| HTX NATGAS-USDT | +0.0212% | 4h | 3.0065 | +0.050% | $105K | $212K | 75x | as long as short |
| GRVT NATGAS_USDT_Perp | +0.0344% | 4h | 3.0050 | 0.000% | $25K | $227K | 25x | as long as short |
| KuCoin NATGASUSDTM | +0.0364% | 4h | 3.0050 | 0.000% | $1.1M | $1.0M | 20x | as long as short |
| Aster NATGASUSDT | +0.0403% | 4h | 3.0045 | −0.017% | $266K | $73K | 50x | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0448% / S −0.0387% | 1h | 3.0065 | +0.050% | $92K | — | 45x | as long as short |
| Gate NG_USDT | +0.0455% | 8h | 3.0080 | +0.100% | $1.5M | $192K | 100x | as long as short |
| BloFin NG-USDT | +0.0463% | 8h | 3.0060 | +0.033% | $81K | $189K | 20x | as long as short |
| OKX NG-USDT-SWAP | +0.0478% | 8h | 3.0050 | 0.000% | $855K | $1.7M | 50x | as long as short |
| Variational Omni NATGAS | +0.0594% | 4h | 3.0059 | +0.031% | $312K | $444K | — | as long as short |
| Binance NATGASUSDT | +0.0617% | 4h | 3.0060 | +0.033% | $10.2M | $28.7M | 100x | as long as short |
| edgeX NATGASUSDC | +0.0622% | 4h | 3.0026 | −0.079% | $85K | $211K | 20x | as long as short |
| Kraken Futures PF_NATGASUSD | +0.0993% | 1h | 3.0077 | +0.088% | $54K | $34K | 20x | as long as short |
| Bitget NATGASUSDT | +0.0996% | 4h | 3.0020 | −0.100% | $9.9M | $3.3M | 100x | as long as short |
ApeX Omni NATGASUSDT
Orderly PERP_NATGAS_USDC_mythos
Phemex NGUSDT
HTX NATGAS-USDT
GRVT NATGAS_USDT_Perp
KuCoin NATGASUSDTM
Aster NATGASUSDT
GMX NATGAS/USD [ETH-USDC]
Gate NG_USDT
BloFin NG-USDT
OKX NG-USDT-SWAP
Variational Omni NATGAS
Binance NATGASUSDT
edgeX NATGASUSDC
Kraken Futures PF_NATGASUSD
Bitget NATGASUSDT