Funding you earn now, next payment 03:00 UTC−0.0013%/8h= −1.4% APRnext payment −$0.02 per $10,000 · paid last 24h −0.004%
Price spread now: QFEX against Lighter−0.033%7-day average +0.092% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$200.205% of the position
Funding, last 4 days (all we have)−0.769%−$77 on $10k
+Price spread, last 4 days (all we have)−0.298%−$30 · spread now −0.033%, 7d avg +0.092%
=Together, before fees−1.068%+ Points / potential airdropLighter: Season 3 · farm board−$107 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and QFEX is 0.125% cheaper against Lighter than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.092%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter NATGAS | 3.0020 | 0.0032 | pay 0.0004% / 1h | 24m 15s | $619K | $494K | 10x |
| Short | QFEX NATGAS-USD | 3.0010 | 0.0019 | get 0.0002% / 1h | 24m 15s | $659K | $85K | 20x |
Lighter NATGAS
QFEX NATGAS-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX against Lighter. 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
- −$2.7
- Price spread: −0.033% → +0.092%
- −$12.52
- Slippage, 4 orders
- −$10.5
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$35.72
- Costs to cover
- 0.205%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 31 min ago; QFEX: live order book, 25 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 Lighter live order book, 31 min ago | 0.83 bp | 2.5 bp −$2 | 12.3 bp −$123 | 73.9 bp −$7,388 | doesn't fit |
| Sell QFEX live order book, 25 min ago | 1.67 bp | 6.7 bp −$7 | 6.7 bp −$67 | 10.6 bp −$1,055 | 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 | |
|---|---|---|---|---|---|---|---|---|
| SunX NATGAS-USDT | 0.0000% | 4h | 3.0042 | +0.073% | $2K | $2.4M | 20x | as long as short |
| QFEX NATGAS-USDshort | +0.0019% | 1h | 3.0010 | −0.033% | $659K | $85K | 20x | |
| Lighter NATGASlong | +0.0032% | 1h | 3.0020 | long leg | $619K | $494K | 10x | |
| Vest NG-PERP | +0.0046% | 1h | 3.0020 | 0.000% | — | $378 | 10x | as long as short |
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 3.0038 | +0.060% | $82K | $26K | 10x | as long as short |
| Paradex NG-USD-PERP | +0.0066% | 8h | 3.0026 | +0.021% | $5K | — | 5x | as long as short |
| Hotstuff NATGAS-PERP | +0.0096% | 1h | 3.0014 | −0.020% | $35K | — | 20x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0096% | 1h | 3.0010 | −0.033% | $6.0M | $5.9M | 10x | as long as short |
| Pacifica NATGAS | +0.0100% | 1h | 3.0012 | −0.027% | $68K | $33K | 10x | as long as short |
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 3.0000 | −0.067% | $37K | $216K | 50x | as long as short |
SunX NATGAS-USDT
Vest NG-PERP
Ondo Perps NATGAS-USD.P
Paradex NG-USD-PERP
Hotstuff NATGAS-PERP
tradeXYZ xyz:NATGAS
Pacifica NATGAS
ApeX Omni NATGASUSDTShow all 26 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 | 3.0020 | 0.000% | $1.5M | $95K | 10x | as long as short |
| Extended XNG-USD | +0.0120% | 1h | 3.0001 | −0.062% | $110K | $444K | 5x | as long as short |
| HTX NATGAS-USDT | +0.0252% | 4h | 3.0040 | +0.067% | $101K | $213K | 75x | as long as short |
| KuCoin NATGASUSDTM | +0.0354% | 4h | 3.0010 | −0.033% | $1.1M | $1.1M | 20x | as long as short |
| Aster NATGASUSDT | +0.0375% | 4h | 3.0018 | −0.008% | $265K | $73K | 50x | as long as short |
| GRVT NATGAS_USDT_Perp | +0.0404% | 4h | 3.0027 | +0.022% | $12K | $214K | 25x | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0434% / S −0.0373% | 1h | 3.0025 | +0.017% | $92K | — | 45x | as long as short |
| OKX NG-USDT-SWAP | +0.0435% | 8h | 3.0020 | 0.000% | $853K | $1.7M | 50x | as long as short |
| BloFin NG-USDT | +0.0443% | 8h | 2.9990 | −0.100% | $81K | $188K | 20x | as long as short |
| Gate NG_USDT | +0.0446% | 8h | 3.0060 | +0.133% | $1.5M | $209K | 100x | as long as short |
| Variational Omni NATGAS | +0.0547% | 4h | 3.0019 | −0.004% | $311K | $444K | — | as long as short |
| edgeX NATGASUSDC | +0.0579% | 4h | 3.0019 | −0.004% | $85K | $211K | 20x | as long as short |
| Binance NATGASUSDT | +0.0589% | 4h | 3.0020 | 0.000% | $10.2M | $28.9M | 100x | as long as short |
| Bitget NATGASUSDT | +0.0960% | 4h | 3.0000 | −0.067% | $9.9M | $3.4M | 100x | as long as short |
| Kraken Futures PF_NATGASUSD | +0.1109% | 1h | 3.0032 | +0.040% | $53K | $34K | 20x | as long as short |
Orderly PERP_NATGAS_USDC_mythos
Phemex NGUSDT
Extended XNG-USD
HTX NATGAS-USDT
KuCoin NATGASUSDTM
Aster NATGASUSDT
GRVT NATGAS_USDT_Perp
GMX NATGAS/USD [ETH-USDC]
OKX NG-USDT-SWAP
BloFin NG-USDT
Gate NG_USDT
Variational Omni NATGAS
edgeX NATGASUSDC
Binance NATGASUSDT
Bitget NATGASUSDT
Kraken Futures PF_NATGASUSD