Funding you earn now, next payment 12:00 UTC+0.0404%/8h= +44.2% APRpaid last 24h +0.068%
Price spread now: OKX against Phemex−0.067%7-day average −0.036% · you buy dearer than you sell
Net, funding: paid 7d − costs−$56as in the Funding arb table
Net, price: spread back to 7d avg − costs−$87as in the Price arb table
costs, in and out, $10k−$840.839% of the position
Funding, last 7 days+0.282%+$28 on $10k
+Price spread, last 4 days (all we have)+0.067%+$7 · spread now −0.067%, 7d avg −0.036%
=Funding pays, the price is against you. OKX is 0.030% cheaper against Phemex than usual: you would sell low and buy high (spread −0.067% now, against its 7-day average of −0.036%). If the spread goes back, that is −$3 on $10k: about 6 hours of funding at the current rate (+$12 a day). At the pace of the last 7 days (+0.282% in total) that is about 18 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.282% in total (about 14.7% 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 | Phemex NGUSDT | 3.0050 | 0.0100 | pay 0.0050% / 4h | 3h 34m | $1.5M | $90K | 10x |
| Short | OKX NG-USDT-SWAP | 3.0030 | 0.0504 | get 0.0504% / 8h | 7h 34m | $803K | $1.9M | 50x |
Phemex NGUSDT
OKX NG-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- $84.79
- Price spread: −0.067% → −0.036%
- −$3.05
- Slippage, 4 orders
- −$61.92
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$2.18
- Costs to cover
- 0.839%
- Break-even
- 7.2 days
Slippage from Phemex: live order book, 4 min ago; OKX: live order book, 3 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, 4 min ago | 1.66 bp | 33.5 bp −$33 | doesn't fit | doesn't fit | doesn't fit |
| Sell OKX live order book, 3 min ago | 1.66 bp | 9.0 bp −$9 | 22.1 bp −$221 | 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 | |
|---|---|---|---|---|---|---|---|---|
| QFEX NATGAS-USD | 0.0000% | 1h | 3.0050 | 0.000% | $659K | $96K | 20x | as long as short |
| gTrade (Gains Network) NATGAS/USD | L 0.0000% / S 0.0000% | 1h | 2.8421 | −5.421% | — | — | — | as long as short |
| SunX NATGAS-USDT | 0.0000% | 4h | 3.0072 | +0.073% | $2K | $2.3M | 20x | as long as short |
| Lighter NATGAS | +0.0032% | 1h | 3.0055 | +0.017% | $631K | $483K | 10x | as long as short |
| Extended XNG-USD | +0.0032% | 1h | 3.0034 | −0.054% | $109K | $253K | 5x | as long as short |
| Vest NG-PERP | +0.0046% | 1h | 3.0050 | 0.000% | — | $14K | 10x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0050% | 1h | 3.0040 | −0.033% | $6.0M | $5.2M | 10x | as long as short |
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 3.0028 | −0.073% | $82K | $26K | 10x | as long as short |
| Paradex NG-USD-PERP | +0.0051% | 8h | 3.0066 | +0.055% | $5K | — | 5x | as long as short |
| Pacifica NATGAS | +0.0100% | 1h | 3.0043 | −0.023% | $69K | $30K | 10x | as long as short |
QFEX NATGAS-USD
gTrade (Gains Network) NATGAS/USD
SunX NATGAS-USDT
Lighter NATGAS
Extended XNG-USD
Vest NG-PERP
tradeXYZ xyz:NATGAS
Ondo Perps NATGAS-USD.P
Paradex NG-USD-PERP
Pacifica NATGASShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 3.0000 | −0.166% | $37K | $214K | 50x | as long as short |
| Orderly PERP_NATGAS_USDC_mythos | +0.0100% | 8h | 3.0000 | −0.166% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDTlong | +0.0100% | 4h | 3.0050 | long leg | $1.5M | $90K | 10x | |
| Hotstuff NATGAS-PERP | +0.0128% | 1h | 3.0035 | −0.050% | $35K | — | 20x | as long as short |
| KuCoin NATGASUSDTM | +0.0146% | 4h | 3.0030 | −0.067% | $1.0M | $843K | 20x | as long as short |
| HTX NATGAS-USDT | +0.0172% | 4h | 3.0070 | +0.067% | $119K | $221K | 75x | as long as short |
| Aster NATGASUSDT | +0.0173% | 4h | 3.0030 | −0.067% | $264K | $69K | 50x | as long as short |
| GRVT NATGAS_USDT_Perp | +0.0264% | 4h | 3.0030 | −0.067% | $20K | $221K | 25x | as long as short |
| Gate NG_USDT | +0.0296% | 8h | 3.0080 | +0.100% | $1.5M | $193K | 100x | as long as short |
| Variational Omni NATGAS | +0.0342% | 4h | 3.0070 | +0.067% | $318K | $391K | — | as long as short |
| Binance NATGASUSDT | +0.0365% | 4h | 3.0050 | 0.000% | $10.4M | $28.8M | 100x | as long as short |
| edgeX NATGASUSDC | +0.0370% | 4h | 3.0027 | −0.075% | $85K | $212K | 20x | as long as short |
| BloFin NG-USDT | +0.0488% | 8h | 3.0030 | −0.067% | $76K | $198K | 20x | as long as short |
| OKX NG-USDT-SWAPshort | +0.0504% | 8h | 3.0030 | −0.067% | $803K | $1.9M | 50x | |
| GMX NATGAS/USD [ETH-USDC] | L +0.0587% / S −0.0602% | 1h | 3.0055 | +0.017% | $88K | — | 45x | as long as short |
| Kraken Futures PF_NATGASUSD | +0.0684% | 1h | 3.0045 | −0.018% | $54K | $36K | 20x | as long as short |
| Bitget NATGASUSDT | +0.0846% | 4h | 3.0020 | −0.100% | $9.9M | $3.0M | 100x | as long as short |
ApeX Omni NATGASUSDT
Orderly PERP_NATGAS_USDC_mythos
Hotstuff NATGAS-PERP
KuCoin NATGASUSDTM
HTX NATGAS-USDT
Aster NATGASUSDT
GRVT NATGAS_USDT_Perp
Gate NG_USDT
Variational Omni NATGAS
Binance NATGASUSDT
edgeX NATGASUSDC
BloFin NG-USDT
GMX NATGAS/USD [ETH-USDC]
Kraken Futures PF_NATGASUSD
Bitget NATGASUSDT