Funding you earn now, next payment 09:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.003%
Price spread now: Phemex against tradeXYZ+0.063%7-day average +0.037% · you sell dearer than you buy
Net, funding: paid 7d − costs−$84as in the Funding arb table
Net, price: spread back to 7d avg − costs−$89as in the Price arb table
costs, in and out, $10k−$910.915% of the position
Funding, last 7 days+0.076%+$8 on $10k
+Price spread, last 4 days (all we have)−0.017%−$2 · spread now +0.063%, 7d avg +0.037%
=Together, before fees+0.059%+ Points / potential airdroptradeXYZ: Active · farm board+$6 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phemex is 0.026% dearer against tradeXYZ than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.037%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:NATGAS | 3.0021 | 0.0050 | pay 0.0006% / 1h | 59m 12s | $6.0M | $5.3M | 10x |
| Short | Phemex NGUSDT | 3.0040 | 0.0100 | get 0.0050% / 4h | 3h 59m | $1.5M | $90K | 10x |
tradeXYZ xyz:NATGAS
Phemex NGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against tradeXYZ. 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
- $10.5
- Price spread: +0.063% → +0.037%
- $2.62
- Slippage, 4 orders
- −$61.47
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$78.35
- Costs to cover
- 0.915%
- Break-even
- 59.2 days
Slippage from tradeXYZ: live order book, 9 min ago; Phemex: live order book, 4 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 tradeXYZ live order book, 9 min ago | 0.50 bp | 10.2 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 4.99 bp | 34.6 bp −$35 | 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 | 2.8391 | −5.430% | — | — | — | as long as short |
| SunX NATGAS-USDT | 0.0000% | 4h | 3.0051 | +0.100% | $2K | $2.4M | 20x | as long as short |
| HTX NATGAS-USDT | 0.0000% | 4h | 3.0043 | +0.073% | $118K | $221K | 75x | as long as short |
| QFEX NATGAS-USD | +0.0004% | 1h | 3.0030 | +0.030% | $659K | $96K | 20x | as long as short |
| Lighter NATGAS | +0.0032% | 1h | 3.0039 | +0.060% | $631K | $482K | 10x | as long as short |
| Extended XNG-USD | +0.0032% | 1h | 3.0022 | +0.004% | $109K | $271K | 5x | as long as short |
| GRVT NATGAS_USDT_Perp | +0.0038% | 4h | 3.0020 | −0.002% | $18K | $218K | 25x | as long as short |
| Vest NG-PERP | +0.0046% | 1h | 3.0030 | +0.030% | — | $14K | 10x | as long as short |
| Hotstuff NATGAS-PERP | +0.0048% | 1h | 3.0027 | +0.020% | $35K | — | 20x | as long as short |
| tradeXYZ xyz:NATGASlong | +0.0050% | 1h | 3.0021 | long leg | $6.0M | $5.3M | 10x |
gTrade (Gains Network) NATGAS/USD
SunX NATGAS-USDT
HTX NATGAS-USDT
QFEX NATGAS-USD
Lighter NATGAS
Extended XNG-USD
GRVT NATGAS_USDT_Perp
Vest NG-PERP
Hotstuff NATGAS-PERPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 3.0012 | −0.030% | $82K | $26K | 10x | as long as short |
| Paradex NG-USD-PERP | +0.0051% | 8h | 3.0036 | +0.050% | $5K | — | 5x | as long as short |
| Pacifica NATGAS | +0.0100% | 1h | 3.0006 | −0.049% | $69K | $32K | 10x | as long as short |
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 3.0000 | −0.070% | $37K | $215K | 50x | as long as short |
| Orderly PERP_NATGAS_USDC_mythos | +0.0100% | 8h | 3.0000 | −0.070% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDTshort | +0.0100% | 4h | 3.0040 | +0.063% | $1.5M | $90K | 10x | |
| KuCoin NATGASUSDTM | +0.0134% | 4h | 3.0010 | −0.037% | $1.0M | $859K | 20x | as long as short |
| Aster NATGASUSDT | +0.0138% | 4h | 3.0040 | +0.063% | $264K | $69K | 50x | as long as short |
| Variational Omni NATGAS | +0.0330% | 4h | 3.0021 | 0.000% | $318K | $390K | — | as long as short |
| Binance NATGASUSDT | +0.0350% | 4h | 3.0035 | +0.046% | $10.4M | $28.6M | 100x | as long as short |
| edgeX NATGASUSDC | +0.0361% | 4h | 3.0021 | 0.000% | $85K | $213K | 20x | as long as short |
| BloFin NG-USDT | +0.0507% | 8h | 3.0020 | −0.003% | $76K | $198K | 20x | as long as short |
| OKX NG-USDT-SWAP | +0.0533% | 8h | 3.0010 | −0.037% | $802K | $1.9M | 50x | as long as short |
| Gate NG_USDT | +0.0565% | 8h | 3.0050 | +0.097% | $1.5M | $192K | 100x | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0588% / S −0.0602% | 1h | 3.0035 | +0.047% | $88K | — | 45x | as long as short |
| Kraken Futures PF_NATGASUSD | +0.0684% | 1h | 3.0048 | +0.089% | $56K | $35K | 20x | as long as short |
| Bitget NATGASUSDT | +0.0822% | 4h | 3.0010 | −0.037% | $9.9M | $3.0M | 100x | as long as short |
Ondo Perps NATGAS-USD.P
Paradex NG-USD-PERP
Pacifica NATGAS
ApeX Omni NATGASUSDT
Orderly PERP_NATGAS_USDC_mythos
KuCoin NATGASUSDTM
Aster NATGASUSDT
Variational Omni NATGAS
Binance NATGASUSDT
edgeX NATGASUSDC
BloFin NG-USDT
OKX NG-USDT-SWAP
Gate NG_USDT
GMX NATGAS/USD [ETH-USDC]
Kraken Futures PF_NATGASUSD
Bitget NATGASUSDT