Funding you earn now, next payment 08:00 UTC−0.0249%/8h= −27.3% APRnext payment −$1.25 per $10,000 · paid last 24h −0.081%
Price spread now: Phemex against Variational Omni+0.062%7-day average −0.007% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.048%−$5 on $10k
+Price spread, last 4 days (all we have)−0.060%−$6 · spread now +0.062%, 7d avg −0.007%
=Together, before fees−0.109%+ Points / potential airdropVariational Omni: Active · farm board−$11 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 0.069% dearer against Variational Omni than usual: you sell high and buy low (spread +0.062% now, against its 7-day average of −0.007%): +$7 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 22 hours. At the pace of the last 4 days (−0.048% in total) that is about 5.3 days.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.048% in total (about -4.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.25 per $10,000. 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 | Variational Omni NATGAS | 3.0011 | 0.0349 | pay 0.0175% / 4h | 7m 07s | $318K | $390K | — |
| Short | Phemex NGUSDT | 3.0030 | 0.0100 | get 0.0050% / 4h | 7m 07s | $1.5M | $90K | 10x |
Variational Omni NATGAS
Phemex NGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Variational Omni. 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
- −$52.32
- Price spread: +0.062% → −0.007%
- $6.94
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$57.38
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Variational Omni: RFQ quote, 32 min ago; Phemex: live order book, 1 min ago. Net counts fees only.
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 Variational Omni RFQ quote, 32 min ago | 4.49 bp | doesn't fit | 12.1 bp −$121 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 1 min ago | 3.33 bp | 36.3 bp −$36 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff NATGAS-PERP | −0.0032% | 1h | 3.0041 | +0.099% | $35K | — | 20x | as long as short |
| gTrade (Gains Network) NATGAS/USD | L 0.0000% / S 0.0000% | 1h | 2.8396 | −5.382% | — | — | — | as long as short |
| SunX NATGAS-USDT | 0.0000% | 4h | 3.0052 | +0.136% | $2K | $2.4M | 20x | as long as short |
| HTX NATGAS-USDT | 0.0000% | 4h | 3.0051 | +0.132% | $119K | $221K | 75x | as long as short |
| QFEX NATGAS-USD | +0.0004% | 1h | 3.0040 | +0.096% | $659K | $96K | 20x | as long as short |
| Lighter NATGAS | +0.0032% | 1h | 3.0041 | +0.099% | $631K | $495K | 10x | as long as short |
| Extended XNG-USD | +0.0032% | 1h | 3.0032 | +0.070% | $109K | $273K | 5x | as long as short |
| GRVT NATGAS_USDT_Perp | +0.0044% | 4h | 3.0005 | −0.020% | $15K | $222K | 25x | as long as short |
| Vest NG-PERP | +0.0046% | 1h | 3.0050 | +0.129% | — | $14K | 10x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0050% | 1h | 3.0033 | +0.072% | $6.0M | $5.3M | 10x | as long as short |
Hotstuff NATGAS-PERP
gTrade (Gains Network) NATGAS/USD
SunX NATGAS-USDT
HTX NATGAS-USDT
QFEX NATGAS-USD
Lighter NATGAS
Extended XNG-USD
GRVT NATGAS_USDT_Perp
Vest NG-PERP
tradeXYZ xyz:NATGASShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 3.0003 | −0.027% | $82K | $26K | 10x | as long as short |
| Paradex NG-USD-PERP | +0.0051% | 8h | 3.0047 | +0.119% | $5K | — | 5x | as long as short |
| Pacifica NATGAS | +0.0100% | 1h | 3.0035 | +0.079% | $69K | $32K | 10x | as long as short |
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 3.0000 | −0.037% | $37K | $215K | 50x | as long as short |
| Orderly PERP_NATGAS_USDC_mythos | +0.0100% | 8h | 3.0000 | −0.037% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDTshort | +0.0100% | 4h | 3.0030 | +0.062% | $1.5M | $90K | 10x | |
| KuCoin NATGASUSDTM | +0.0142% | 4h | 3.0030 | +0.062% | $1.0M | $865K | 20x | as long as short |
| Aster NATGASUSDT | +0.0151% | 4h | 3.0040 | +0.096% | $264K | $69K | 50x | as long as short |
| Variational Omni NATGASlong | +0.0349% | 4h | 3.0011 | long leg | $318K | $390K | — | |
| Binance NATGASUSDT | +0.0366% | 4h | 3.0030 | +0.062% | $10.4M | $28.6M | 100x | as long as short |
| edgeX NATGASUSDC | +0.0385% | 4h | 3.0011 | 0.000% | $85K | $212K | 20x | as long as short |
| BloFin NG-USDT | +0.0536% | 8h | 3.0000 | −0.037% | $80K | $198K | 20x | as long as short |
| OKX NG-USDT-SWAP | +0.0553% | 8h | 3.0020 | +0.029% | $802K | $1.8M | 50x | as long as short |
| Gate NG_USDT | +0.0571% | 8h | 3.0060 | +0.162% | $1.5M | $197K | 100x | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0591% / S −0.0606% | 1h | 3.0035 | +0.079% | $88K | — | 45x | as long as short |
| Bitget NATGASUSDT | +0.0826% | 4h | 3.0000 | −0.037% | $9.9M | $3.0M | 100x | as long as short |
| Kraken Futures PF_NATGASUSD | +0.0861% | 1h | 3.0055 | +0.145% | $56K | $35K | 20x | as long as short |
Ondo Perps NATGAS-USD.P
Paradex NG-USD-PERP
Pacifica NATGAS
ApeX Omni NATGASUSDT
Orderly PERP_NATGAS_USDC_mythos
KuCoin NATGASUSDTM
Aster NATGASUSDT
Binance NATGASUSDT
edgeX NATGASUSDC
BloFin NG-USDT
OKX NG-USDT-SWAP
Gate NG_USDT
GMX NATGAS/USD [ETH-USDC]
Bitget NATGASUSDT
Kraken Futures PF_NATGASUSD