Funding you earn now, next payment 04:00 UTC−0.0228%/8h= −25.0% APRnext payment −$1.14 per $10,000 · paid last 24h −0.214%
Price spread now: Phemex against Bitget+0.133%7-day average +0.039% · you sell dearer than you buy
Net, funding: paid 7d − costs−$179as in the Funding arb table
Net, price: spread back to 7d avg − costs−$76as in the Price arb table
costs, in and out, $10k−$860.858% of the position
Funding, last 7 days−0.928%−$93 on $10k
+Price spread, last 3 days (all we have)−0.087%−$9 · spread now +0.133%, 7d avg +0.039%
=The price spread pays, funding is against you. Phemex is 0.095% dearer against Bitget than usual: you sell high and buy low (spread +0.133% now, against its 7-day average of +0.039%): +$9 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 33 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget NATGASUSDT | 2.9980 | 0.0328 | pay 0.0164% / 4h | 3h 21m | $10.0M | $3.5M | 100x |
| Short | Phemex NGUSDT | 3.0020 | 0.0100 | get 0.0050% / 4h | 3h 21m | $1.5M | $95K | 10x |
Bitget NATGASUSDT
Phemex NGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Bitget. 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
- −$47.88
- Price spread: +0.133% → +0.039%
- $9.47
- Slippage, 4 orders
- −$61.76
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$124.17
- Costs to cover
- 0.858%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 2 min ago; Phemex: live order book, 1 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 Bitget live order book, 2 min ago | 1.67 bp | 10.7 bp −$11 | 23.3 bp −$233 | 56.9 bp −$5,688 | doesn't fit |
| Sell Phemex live order book, 1 min ago | 1.66 bp | 30.0 bp −$30 | 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 | 2.8381 | −5.334% | — | — | — | as long as short |
| SunX NATGAS-USDT | 0.0000% | 4h | 3.0041 | +0.203% | $2K | $2.6M | 20x | as long as short |
| QFEX NATGAS-USD | +0.0015% | 1h | 3.0010 | +0.100% | $659K | $85K | 20x | as long as short |
| Lighter NATGAS | +0.0032% | 1h | 3.0016 | +0.120% | $617K | $414K | 10x | as long as short |
| Extended XNG-USD | +0.0032% | 1h | 3.0009 | +0.096% | $112K | $452K | 5x | as long as short |
| Vest NG-PERP | +0.0046% | 1h | 3.0010 | +0.100% | — | $378 | 10x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0050% | 1h | 3.0008 | +0.093% | $5.9M | $5.9M | 10x | as long as short |
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 3.0046 | +0.220% | $84K | $26K | 10x | as long as short |
| Paradex NG-USD-PERP | +0.0055% | 8h | 3.0027 | +0.156% | $5K | — | 5x | as long as short |
| Aster NATGASUSDT | +0.0083% | 4h | 3.0030 | +0.167% | $266K | $73K | 50x | as long as short |
gTrade (Gains Network) NATGAS/USD
SunX NATGAS-USDT
QFEX NATGAS-USD
Lighter NATGAS
Extended XNG-USD
Vest NG-PERP
tradeXYZ xyz:NATGAS
Ondo Perps NATGAS-USD.P
Paradex NG-USD-PERP
Aster NATGASUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica NATGAS | +0.0100% | 1h | 2.9998 | +0.060% | $68K | $33K | 10x | as long as short |
| KuCoin NATGASUSDTM | +0.0100% | 4h | 3.0010 | +0.100% | $1.0M | $1.1M | 20x | as long as short |
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 3.0000 | +0.067% | $37K | $216K | 50x | as long as short |
| Orderly PERP_NATGAS_USDC_mythos | +0.0100% | 8h | 3.0000 | +0.067% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDTshort | +0.0100% | 4h | 3.0020 | +0.133% | $1.5M | $95K | 10x | |
| Hotstuff NATGAS-PERP | +0.0112% | 1h | 3.0011 | +0.103% | $35K | — | 20x | as long as short |
| Variational Omni NATGAS | +0.0154% | 4h | 3.0030 | +0.167% | $312K | $443K | — | as long as short |
| BloFin NG-USDT | +0.0200% | 8h | 2.9990 | +0.033% | $81K | $189K | 20x | as long as short |
| HTX NATGAS-USDT | +0.0201% | 4h | 3.0054 | +0.247% | $98K | $210K | 75x | as long as short |
| OKX NG-USDT-SWAP | +0.0221% | 8h | 3.0020 | +0.133% | $863K | $1.7M | 50x | as long as short |
| Binance NATGASUSDT | +0.0250% | 4h | 3.0020 | +0.133% | $10.1M | $29.6M | 100x | as long as short |
| edgeX NATGASUSDC | +0.0261% | 4h | 3.0032 | +0.174% | $85K | $212K | 20x | as long as short |
| Bitget NATGASUSDTlong | +0.0328% | 4h | 2.9980 | long leg | $10.0M | $3.5M | 100x | |
| GRVT NATGAS_USDT_Perp | +0.0378% | 4h | 3.0030 | +0.167% | $25K | $214K | 25x | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0410% / S −0.0346% | 1h | 3.0025 | +0.150% | $92K | — | 45x | as long as short |
| Gate NG_USDT | +0.0457% | 8h | 3.0040 | +0.200% | $1.5M | $255K | 100x | as long as short |
| Kraken Futures PF_NATGASUSD | +0.1001% | 1h | 3.0027 | +0.157% | $52K | $36K | 20x | as long as short |
Pacifica NATGAS
KuCoin NATGASUSDTM
ApeX Omni NATGASUSDT
Orderly PERP_NATGAS_USDC_mythos
Hotstuff NATGAS-PERP
Variational Omni NATGAS
BloFin NG-USDT
HTX NATGAS-USDT
OKX NG-USDT-SWAP
Binance NATGASUSDT
edgeX NATGASUSDC
GRVT NATGAS_USDT_Perp
GMX NATGAS/USD [ETH-USDC]
Gate NG_USDT
Kraken Futures PF_NATGASUSD