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: Lighter against QFEX+0.033%7-day average −0.092% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$8as 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 for this trade now. Funding pays $0 a day on $10k at the current rate, and Lighter is 0.125% dearer against QFEX than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.092%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | QFEX NATGAS-USD | 3.0010 | 0.0019 | pay 0.0002% / 1h | 23m 49s | $659K | $85K | 20x |
| Short | Lighter NATGAS | 3.0020 | 0.0032 | get 0.0004% / 1h | 23m 49s | $619K | $494K | 10x |
QFEX NATGAS-USD
Lighter NATGASFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against QFEX. 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 QFEX: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$5.27
- Costs to cover
- 0.205%
- Break-even
- 20.6 days
Slippage from QFEX: live order book, 25 min ago; Lighter: live order book, 32 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 QFEX live order book, 25 min ago | 1.67 bp | 9.9 bp −$10 | 10.0 bp −$100 | 14.8 bp −$1,481 | doesn't fit |
| Sell Lighter live order book, 32 min ago | 0.83 bp | 1.5 bp −$1 | 21.3 bp −$213 | 85.9 bp −$8,592 | 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 | +0.107% | $2K | $2.4M | 20x | as long as short |
| QFEX NATGAS-USDlong | +0.0019% | 1h | 3.0010 | long leg | $659K | $85K | 20x | |
| Lighter NATGASshort | +0.0032% | 1h | 3.0020 | +0.033% | $619K | $494K | 10x | |
| Vest NG-PERP | +0.0046% | 1h | 3.0020 | +0.033% | — | $378 | 10x | as long as short |
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 3.0038 | +0.093% | $82K | $26K | 10x | as long as short |
| Paradex NG-USD-PERP | +0.0066% | 8h | 3.0026 | +0.054% | $5K | — | 5x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0096% | 1h | 3.0010 | 0.000% | $6.0M | $5.9M | 10x | as long as short |
| Hotstuff NATGAS-PERP | +0.0096% | 1h | 3.0014 | +0.013% | $35K | — | 20x | as long as short |
| Pacifica NATGAS | +0.0100% | 1h | 3.0012 | +0.007% | $68K | $33K | 10x | as long as short |
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 3.0000 | −0.033% | $37K | $216K | 50x | as long as short |
SunX NATGAS-USDT
Vest NG-PERP
Ondo Perps NATGAS-USD.P
Paradex NG-USD-PERP
tradeXYZ xyz:NATGAS
Hotstuff NATGAS-PERP
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 | −0.033% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDT | +0.0100% | 4h | 3.0020 | +0.033% | $1.5M | $95K | 10x | as long as short |
| Extended XNG-USD | +0.0120% | 1h | 3.0002 | −0.027% | $110K | $444K | 5x | as long as short |
| HTX NATGAS-USDT | +0.0252% | 4h | 3.0040 | +0.100% | $101K | $213K | 75x | as long as short |
| KuCoin NATGASUSDTM | +0.0354% | 4h | 3.0010 | 0.000% | $1.1M | $1.1M | 20x | as long as short |
| Aster NATGASUSDT | +0.0375% | 4h | 3.0018 | +0.026% | $265K | $73K | 50x | as long as short |
| GRVT NATGAS_USDT_Perp | +0.0404% | 4h | 3.0027 | +0.055% | $12K | $214K | 25x | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0434% / S −0.0373% | 1h | 3.0025 | +0.050% | $92K | — | 45x | as long as short |
| OKX NG-USDT-SWAP | +0.0435% | 8h | 3.0020 | +0.033% | $853K | $1.7M | 50x | as long as short |
| BloFin NG-USDT | +0.0443% | 8h | 2.9990 | −0.067% | $81K | $188K | 20x | as long as short |
| Gate NG_USDT | +0.0446% | 8h | 3.0060 | +0.167% | $1.5M | $209K | 100x | as long as short |
| Variational Omni NATGAS | +0.0547% | 4h | 3.0019 | +0.029% | $311K | $444K | — | as long as short |
| edgeX NATGASUSDC | +0.0579% | 4h | 3.0019 | +0.029% | $85K | $211K | 20x | as long as short |
| Binance NATGASUSDT | +0.0589% | 4h | 3.0025 | +0.048% | $10.2M | $28.9M | 100x | as long as short |
| Bitget NATGASUSDT | +0.0960% | 4h | 2.9990 | −0.067% | $9.9M | $3.4M | 100x | as long as short |
| Kraken Futures PF_NATGASUSD | +0.1109% | 1h | 3.0032 | +0.073% | $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