Funding you earn now, next payment 08:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.020%
Price spread now: Lighter against Phemex−0.047%7-day average −0.115% · you buy dearer than you sell
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$72as in the Price arb table
costs, in and out, $10k−$790.789% of the position
Funding, last 7 days+0.613%+$61 on $10k
+Price spread, last 4 days (all we have)+0.058%+$6 · spread now −0.047%, 7d avg −0.115%
=Together, before fees+0.670%+ Points / potential airdropLighter: Season 3 · farm board+$67 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.069% dearer against Phemex than usual: you sell high and buy low (spread −0.047% now, against its 7-day average of −0.115%): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.4 days. Mind the row above: over the last 7 days funding on this pair paid +0.613%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex NGUSDT | 3.0060 | 0.0100 | pay 0.0050% / 4h | 57m 19s | $1.5M | $92K | 10x |
| Short | Lighter NATGAS | 3.0046 | 0.0032 | get 0.0004% / 1h | 57m 19s | $629K | $487K | 10x |
Phemex NGUSDT
Lighter NATGASFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Phemex. 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
- −$14.28
- Price spread: −0.047% → −0.115%
- $6.85
- Slippage, 4 orders
- −$66.94
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$86.37
- Costs to cover
- 0.789%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 1 min ago; Lighter: live order book, 38 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 Phemex live order book, 1 min ago | 1.66 bp | 33.4 bp −$33 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 38 min ago | 0.83 bp | 9.2 bp −$9 | 18.3 bp −$183 | 85.4 bp −$8,544 | 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 | 2.8434 | −5.409% | — | — | — | as long as short |
| SunX NATGAS-USDT | 0.0000% | 4h | 3.0102 | +0.140% | $2K | $2.4M | 20x | as long as short |
| QFEX NATGAS-USD | +0.0004% | 1h | 3.0040 | −0.067% | $659K | $96K | 20x | as long as short |
| Lighter NATGASshort | +0.0032% | 1h | 3.0046 | −0.047% | $629K | $487K | 10x | |
| Extended XNG-USD | +0.0032% | 1h | 3.0036 | −0.079% | $111K | $283K | 5x | as long as short |
| HTX NATGAS-USDT | +0.0044% | 4h | 3.0063 | +0.010% | $117K | $218K | 75x | as long as short |
| Vest NG-PERP | +0.0046% | 1h | 3.0050 | −0.033% | — | $14K | 10x | as long as short |
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 3.0059 | −0.003% | $83K | $26K | 10x | as long as short |
| Paradex NG-USD-PERP | +0.0053% | 8h | 3.0059 | −0.004% | $5K | — | 5x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0070% | 1h | 3.0046 | −0.047% | $6.0M | $5.3M | 10x | as long as short |
gTrade (Gains Network) NATGAS/USD
SunX NATGAS-USDT
QFEX NATGAS-USD
Extended XNG-USD
HTX NATGAS-USDT
Vest NG-PERP
Ondo Perps NATGAS-USD.P
Paradex NG-USD-PERP
tradeXYZ xyz:NATGASShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica NATGAS | +0.0100% | 1h | 3.0040 | −0.067% | $68K | $30K | 10x | as long as short |
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 3.0000 | −0.200% | $37K | $216K | 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 NGUSDTlong | +0.0100% | 4h | 3.0060 | long leg | $1.5M | $92K | 10x | |
| GRVT NATGAS_USDT_Perp | +0.0132% | 4h | 3.0054 | −0.021% | $15K | $222K | 25x | as long as short |
| KuCoin NATGASUSDTM | +0.0204% | 4h | 3.0050 | −0.033% | $1.0M | $897K | 20x | as long as short |
| Hotstuff NATGAS-PERP | +0.0216% | 1h | 3.0059 | −0.003% | $35K | — | 20x | as long as short |
| Aster NATGASUSDT | +0.0247% | 4h | 3.0070 | +0.032% | $265K | $68K | 50x | as long as short |
| Variational Omni NATGAS | +0.0472% | 4h | 3.0060 | −0.001% | $318K | $393K | — | as long as short |
| Binance NATGASUSDT | +0.0491% | 4h | 3.0050 | −0.033% | $10.3M | $28.5M | 100x | as long as short |
| edgeX NATGASUSDC | +0.0510% | 4h | 3.0070 | +0.034% | $85K | $213K | 20x | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0568% / S −0.0579% | 1h | 3.0055 | −0.017% | $88K | — | 45x | as long as short |
| Gate NG_USDT | +0.0584% | 8h | 3.0070 | +0.033% | $1.5M | $195K | 100x | as long as short |
| BloFin NG-USDT | +0.0633% | 8h | 3.0050 | −0.033% | $83K | $198K | 20x | as long as short |
| OKX NG-USDT-SWAP | +0.0655% | 8h | 3.0050 | −0.033% | $876K | $1.7M | 50x | as long as short |
| Kraken Futures PF_NATGASUSD | +0.0861% | 1h | 3.0069 | +0.031% | $56K | $36K | 20x | as long as short |
| Bitget NATGASUSDT | +0.0916% | 4h | 3.0010 | −0.166% | $9.9M | $3.1M | 100x | as long as short |
Pacifica NATGAS
ApeX Omni NATGASUSDT
Orderly PERP_NATGAS_USDC_mythos
GRVT NATGAS_USDT_Perp
KuCoin NATGASUSDTM
Hotstuff NATGAS-PERP
Aster NATGASUSDT
Variational Omni NATGAS
Binance NATGASUSDT
edgeX NATGASUSDC
GMX NATGAS/USD [ETH-USDC]
Gate NG_USDT
BloFin NG-USDT
OKX NG-USDT-SWAP
Kraken Futures PF_NATGASUSD
Bitget NATGASUSDT