Funding you earn now, next payment 08:00 UTC−0.0470%/8h= −51.5% APRpaid last 24h −0.072%
Price spread now: Phemex against Gate−0.100%7-day average −0.031% · you buy dearer than you sell
Net, funding: paid 7d − costs−$136as in the Funding arb table
Net, price: spread back to 7d avg − costs−$111as in the Price arb table
costs, in and out, $10k−$1041.040% of the position
Funding, last 7 days−0.316%−$32 on $10k
+Price spread, last 4 days (all we have)+0.056%+$6 · spread now −0.100%, 7d avg −0.031%
=Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Phemex is 0.069% cheaper against Gate than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.031%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.316% in total (about -16.5% 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 | Gate NG_USDT | 3.0060 | 0.0570 | pay 0.0570% / 8h | 5m 56s | $1.5M | $197K | 100x |
| Short | Phemex NGUSDT | 3.0030 | 0.0100 | get 0.0050% / 4h | 5m 56s | $1.5M | $90K | 10x |
Gate NG_USDT
Phemex NGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Gate. 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
- −$98.7
- Price spread: −0.100% → −0.031%
- −$6.89
- Slippage, 4 orders
- −$76.96
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$209.55
- Costs to cover
- 1.040%
- Break-even
- never at this rate
Slippage from Gate: live order book, 1 min ago; Phemex: live order book, 2 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 Gate live order book, 1 min ago | 1.66 bp | 20.8 bp −$21 | 56.9 bp −$569 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 min ago | 3.33 bp | 36.3 bp −$36 | doesn't fit | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff NATGAS-PERP | −0.0032% | 1h | 3.0040 | −0.067% | $35K | — | 20x | as long as short |
| SunX NATGAS-USDT | 0.0000% | 4h | 3.0052 | −0.027% | $2K | $2.4M | 20x | as long as short |
| HTX NATGAS-USDT | 0.0000% | 4h | 3.0078 | +0.060% | $119K | $221K | 75x | as long as short |
| QFEX NATGAS-USD | +0.0004% | 1h | 3.0030 | −0.100% | $659K | $96K | 20x | as long as short |
| Lighter NATGAS | +0.0032% | 1h | 3.0036 | −0.080% | $631K | $495K | 10x | as long as short |
| Extended XNG-USD | +0.0032% | 1h | 3.0027 | −0.111% | $109K | $273K | 5x | as long as short |
| GRVT NATGAS_USDT_Perp | +0.0044% | 4h | 3.0005 | −0.182% | $15K | $222K | 25x | as long as short |
| Vest NG-PERP | +0.0046% | 1h | 3.0030 | −0.100% | — | $14K | 10x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0050% | 1h | 3.0032 | −0.093% | $6.0M | $5.3M | 10x | as long as short |
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 3.0003 | −0.190% | $82K | $26K | 10x | as long as short |
Hotstuff NATGAS-PERP
SunX NATGAS-USDT
HTX NATGAS-USDT
QFEX NATGAS-USD
Lighter NATGAS
Extended XNG-USD
GRVT NATGAS_USDT_Perp
Vest NG-PERP
tradeXYZ xyz:NATGAS
Ondo Perps NATGAS-USD.PShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex NG-USD-PERP | +0.0051% | 8h | 3.0043 | −0.055% | $5K | — | 5x | as long as short |
| Pacifica NATGAS | +0.0100% | 1h | 3.0014 | −0.153% | $69K | $32K | 10x | as long as short |
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 3.0000 | −0.200% | $37K | $215K | 50x | as long as short |
| Orderly PERP_NATGAS_USDC_mythos | +0.0100% | 8h | 3.0000 | −0.200% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDTshort | +0.0100% | 4h | 3.0030 | −0.100% | $1.5M | $90K | 10x | |
| KuCoin NATGASUSDTM | +0.0140% | 4h | 3.0020 | −0.133% | $1.0M | $864K | 20x | as long as short |
| Aster NATGASUSDT | +0.0149% | 4h | 3.0040 | −0.067% | $264K | $69K | 50x | as long as short |
| Variational Omni NATGAS | +0.0349% | 4h | 3.0011 | −0.162% | $318K | $390K | — | as long as short |
| Binance NATGASUSDT | +0.0363% | 4h | 3.0030 | −0.100% | $10.4M | $28.6M | 100x | as long as short |
| edgeX NATGASUSDC | +0.0385% | 4h | 3.0011 | −0.162% | $85K | $212K | 20x | as long as short |
| BloFin NG-USDT | +0.0536% | 8h | 3.0000 | −0.200% | $80K | $198K | 20x | as long as short |
| OKX NG-USDT-SWAP | +0.0551% | 8h | 3.0020 | −0.133% | $802K | $1.9M | 50x | as long as short |
| Gate NG_USDTlong | +0.0570% | 8h | 3.0060 | long leg | $1.5M | $197K | 100x | |
| GMX NATGAS/USD [ETH-USDC] | L +0.0591% / S −0.0607% | 1h | 3.0035 | −0.083% | $88K | — | 45x | as long as short |
| Bitget NATGASUSDT | +0.0826% | 4h | 3.0010 | −0.166% | $9.9M | $3.0M | 100x | as long as short |
| Kraken Futures PF_NATGASUSD | +0.0862% | 1h | 3.0050 | −0.034% | $56K | $35K | 20x | as long as short |
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
GMX NATGAS/USD [ETH-USDC]
Bitget NATGASUSDT
Kraken Futures PF_NATGASUSD