Funding you earn now, next payment 07:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h +0.024%
Price spread now: Phemex against QFEX+0.066%7-day average +0.015% · 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−$77as in the Price arb table
costs, in and out, $10k−$830.826% of the position
Funding, last 4 days (all we have)+0.091%+$9 on $10k
+Price spread, last 4 days (all we have)−0.040%−$4 · spread now +0.066%, 7d avg +0.015%
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phemex is 0.051% dearer against QFEX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.015%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | QFEX NATGAS-USD | 3.0080 | 0.0002 | pay 0.0000% / 1h | 17m 37s | $660K | $96K | 20x |
| Short | Phemex NGUSDT | 3.0100 | 0.0100 | get 0.0050% / 4h | 1h 17m | $1.5M | $93K | 10x |
QFEX NATGAS-USD
Phemex NGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $20.56
- Price spread: +0.066% → +0.015%
- $5.14
- Slippage, 4 orders
- −$60.62
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$56.92
- Costs to cover
- 0.826%
- Break-even
- 26.4 days
Slippage from QFEX: live order book, 2 min ago; Phemex: live order book, 5 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, 2 min ago | 3.33 bp | 8.3 bp −$8 | 8.3 bp −$83 | 12.5 bp −$1,251 | doesn't fit |
| Sell Phemex live order book, 5 min ago | 1.66 bp | 32.7 bp −$33 | doesn't fit | 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 | −5.332% | — | — | — | as long as short |
| SunX NATGAS-USDT | 0.0000% | 4h | 3.0112 | +0.106% | $2K | $2.4M | 20x | as long as short |
| QFEX NATGAS-USDlong | +0.0002% | 1h | 3.0080 | long leg | $660K | $96K | 20x | |
| Lighter NATGAS | +0.0032% | 1h | 3.0092 | +0.040% | $630K | $502K | 10x | as long as short |
| Extended XNG-USD | +0.0032% | 1h | 3.0077 | −0.009% | $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 | +0.086% | $107K | $202K | 75x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0050% | 1h | 3.0079 | −0.003% | $6.0M | $5.4M | 10x | as long as short |
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 3.0112 | +0.106% | $83K | $26K | 10x | as long as short |
| Paradex NG-USD-PERP | +0.0054% | 8h | 3.0097 | +0.058% | $5K | — | 5x | as long as short |
gTrade (Gains Network) NATGAS/USD
SunX NATGAS-USDT
Lighter NATGAS
Extended XNG-USD
Vest NG-PERP
HTX NATGAS-USDT
tradeXYZ xyz:NATGAS
Ondo Perps NATGAS-USD.P
Paradex NG-USD-PERPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica NATGAS | +0.0100% | 1h | 3.0074 | −0.020% | $68K | $33K | 10x | as long as short |
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 3.0100 | +0.066% | $37K | $217K | 50x | as long as short |
| Orderly PERP_NATGAS_USDC_mythos | +0.0100% | 8h | 3.0100 | +0.066% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDTshort | +0.0100% | 4h | 3.0100 | +0.066% | $1.5M | $93K | 10x | |
| GRVT NATGAS_USDT_Perp | +0.0140% | 4h | 3.0078 | −0.006% | $22K | $211K | 25x | as long as short |
| Hotstuff NATGAS-PERP | +0.0216% | 1h | 3.0088 | +0.027% | $35K | — | 20x | as long as short |
| KuCoin NATGASUSDTM | +0.0234% | 4h | 3.0050 | −0.100% | $1.0M | $912K | 20x | as long as short |
| Aster NATGASUSDT | +0.0269% | 4h | 3.0104 | +0.081% | $265K | $68K | 50x | as long as short |
| Variational Omni NATGAS | +0.0493% | 4h | 3.0070 | −0.034% | $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 NATGASUSDC | +0.0533% | 4h | 3.0070 | −0.034% | $85K | $213K | 20x | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0557% / S −0.0564% | 1h | 3.0095 | +0.050% | $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 | 0.000% | $83K | $198K | 20x | as long as short |
| OKX NG-USDT-SWAP | +0.0652% | 8h | 3.0080 | 0.000% | $876K | $1.8M | 50x | as long as short |
| Bitget NATGASUSDT | +0.0944% | 4h | 3.0040 | −0.133% | $9.9M | $3.1M | 100x | as long as short |
| Kraken Futures PF_NATGASUSD | +0.0986% | 1h | 3.0109 | +0.096% | $56K | $36K | 20x | as long as short |
Pacifica NATGAS
ApeX Omni NATGASUSDT
Orderly PERP_NATGAS_USDC_mythos
GRVT NATGAS_USDT_Perp
Hotstuff NATGAS-PERP
KuCoin NATGASUSDTM
Aster NATGASUSDT
Variational Omni NATGAS
Binance NATGASUSDT
edgeX NATGASUSDC
GMX NATGAS/USD [ETH-USDC]
Gate NG_USDT
BloFin NG-USDT
OKX NG-USDT-SWAP
Bitget NATGASUSDT
Kraken Futures PF_NATGASUSD