Funding you earn now, next payment 03:00 UTC−0.0485%/8h= −53.2% APRpaid last 24h −0.109%
Price spread now: QFEX against Binance0.000%7-day average −0.031% · 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−$27as in the Price arb table
costs, in and out, $10k−$300.299% of the position
Funding, last 4 days (all we have)−0.138%−$14 on $10k
+Price spread, last 2 days (all we have)−0.019%−$2 · spread now 0.000%, 7d avg −0.031%
=The price spread pays, funding is against you. QFEX is 0.031% dearer against Binance than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.031%): +$3 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 4 days (−0.138% in total) that is about 19 hours.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.138% in total (about -14.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance NATGASUSDT | 3.0020 | 0.0505 | pay 0.0252% / 4h | 1h 49m | $10.2M | $28.9M | 100x |
| Short | QFEX NATGAS-USD | 3.0020 | 0.0019 | get 0.0002% / 1h | 49m 34s | $659K | $85K | 20x |
Binance NATGASUSDT
QFEX NATGAS-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX against Binance. 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
- −$101.94
- Price spread: 0.000% → −0.031%
- $3.1
- Slippage, 4 orders
- −$9.88
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$128.73
- Costs to cover
- 0.299%
- Break-even
- never at this rate
Slippage from Binance: live order book, 7 min ago; QFEX: live order book, 65 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 Binance live order book, 7 min ago | 1.67 bp | 6.7 bp −$7 | 10.0 bp −$100 | 35.0 bp −$3,500 | 128.3 bp −$64.2K |
| Sell QFEX live order book, 65 min ago | 1.67 bp | 9.9 bp −$10 | 10.0 bp −$100 | 13.4 bp −$1,344 | doesn't fit |
NATGAS on 25 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 | 3.0032 | +0.040% | $2K | $2.4M | 20x | as long as short |
| QFEX NATGAS-USDshort | +0.0019% | 1h | 3.0020 | 0.000% | $659K | $85K | 20x | |
| Lighter NATGAS | +0.0032% | 1h | 3.0026 | +0.020% | $619K | $445K | 10x | as long as short |
| Extended XNG-USD | +0.0032% | 1h | 3.0005 | −0.050% | $110K | $442K | 5x | as long as short |
| Vest NG-PERP | +0.0046% | 1h | 3.0010 | −0.033% | — | $378 | 10x | as long as short |
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 3.0031 | +0.037% | $82K | $26K | 10x | as long as short |
| Paradex NG-USD-PERP | +0.0063% | 8h | 3.0029 | +0.031% | $5K | — | 5x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0066% | 1h | 3.0012 | −0.027% | $5.9M | $5.9M | 10x | as long as short |
| Pacifica NATGAS | +0.0100% | 1h | 2.9998 | −0.073% | $68K | $33K | 10x | as long as short |
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 3.0000 | −0.067% | $37K | $218K | 50x | as long as short |
SunX NATGAS-USDT
Lighter NATGAS
Extended XNG-USD
Vest NG-PERP
Ondo Perps NATGAS-USD.P
Paradex NG-USD-PERP
tradeXYZ xyz:NATGAS
Pacifica NATGAS
ApeX Omni NATGASUSDTShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_NATGAS_USDC_mythos | +0.0100% | 8h | 3.0000 | −0.067% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDT | +0.0100% | 4h | 3.0010 | −0.033% | $1.5M | $95K | 10x | as long as short |
| HTX NATGAS-USDT | +0.0216% | 4h | 3.0029 | +0.030% | $98K | $210K | 75x | as long as short |
| KuCoin NATGASUSDTM | +0.0268% | 4h | 3.0010 | −0.033% | $1.0M | $1.1M | 20x | as long as short |
| Hotstuff NATGAS-PERP | +0.0272% | 1h | 3.0023 | +0.010% | $35K | — | 20x | as long as short |
| Aster NATGASUSDT | +0.0287% | 4h | 3.0014 | −0.020% | $265K | $73K | 50x | as long as short |
| GRVT NATGAS_USDT_Perp | +0.0364% | 4h | 3.0010 | −0.033% | $12K | $214K | 25x | as long as short |
| OKX NG-USDT-SWAP | +0.0387% | 8h | 3.0020 | 0.000% | $862K | $1.7M | 50x | as long as short |
| Gate NG_USDT | +0.0404% | 8h | 3.0050 | +0.100% | $1.5M | $208K | 100x | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0427% / S −0.0364% | 1h | 3.0015 | −0.017% | $92K | — | 45x | as long as short |
| Variational Omni NATGAS | +0.0459% | 4h | 3.0009 | −0.036% | $311K | $444K | — | as long as short |
| Binance NATGASUSDTlong | +0.0505% | 4h | 3.0020 | long leg | $10.2M | $28.9M | 100x | |
| edgeX NATGASUSDC | +0.0510% | 4h | 3.0010 | −0.033% | $85K | $212K | 20x | as long as short |
| Bitget NATGASUSDT | +0.0826% | 4h | 3.0000 | −0.067% | $9.9M | $3.4M | 100x | as long as short |
| Kraken Futures PF_NATGASUSD | +0.1109% | 1h | 3.0023 | +0.011% | $53K | $36K | 20x | as long as short |
Orderly PERP_NATGAS_USDC_mythos
Phemex NGUSDT
HTX NATGAS-USDT
KuCoin NATGASUSDTM
Hotstuff NATGAS-PERP
Aster NATGASUSDT
GRVT NATGAS_USDT_Perp
OKX NG-USDT-SWAP
Gate NG_USDT
GMX NATGAS/USD [ETH-USDC]
Variational Omni NATGAS
edgeX NATGASUSDC
Bitget NATGASUSDT
Kraken Futures PF_NATGASUSD