NATGAS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0321%/8h= −35.1% APRnext payment −$1.60 per $10,000 · paid last 24h −0.098%

Price spread now: Phemex against Binance+0.026%52s7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$790.795% of the position

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.154%−$15 on $10k

Price spread, last 4 days (all we have)−0.130%−$13 · spread now +0.026%, 7d avg −0.026%

Together, before fees−0.284%−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.052% dearer against Binance than usual: you sell high and buy low (spread +0.026% now, against its 7-day average of −0.026%): +$5 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.154% in total) that is about 2.4 days. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.154% in total (about -8.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.60 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	Binance NATGASUSDT	3.0072	0.0421	pay 0.0210% / 4h	33m 20s	$10.4M	$28.5M	100x
Short	Phemex NGUSDT	3.0080	0.0100	get 0.0050% / 4h	33m 20s	$1.5M	$91K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee PhemexbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$67.38
Price spread: +0.026% → −0.026%: $5.21
Slippage, 4 orders: −$57.49
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$141.66
Costs to cover: 0.795%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; Phemex: live order book, 4 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 Binance live order book, 8 min ago	1.66 bp	6.7 bp −$7	9.8 bp −$98	35.9 bp −$3,591	132.4 bp −$66.2K
Sell Phemex live order book, 4 min ago	3.33 bp	34.3 bp −$34	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	−0.0088%	1h	3.0072	0.000%	$35K	—	20x	as long as short
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8450	−5.394%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0082	+0.033%	$2K	$2.4M	20x	as long as short
HTX NATGAS-USDT	0.0000%	4h	3.0076	+0.013%	$117K	$216K	75x	as long as short
QFEX NATGAS-USD	+0.0004%	1h	3.0070	−0.007%	$660K	$96K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0078	+0.020%	$631K	$494K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0068	−0.014%	$111K	$271K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0070	−0.007%	—	$14K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	3.0073	+0.003%	$6.0M	$5.2M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0081	+0.030%	$83K	$26K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex NG-USD-PERP	+0.0051%	8h	3.0074	+0.005%	$5K	—	5x	as long as short
GRVT NATGAS_USDT_Perp	+0.0076%	4h	3.0050	−0.074%	$15K	$222K	25x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0064	−0.028%	$70K	$32K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.240%	$37K	$216K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.240%	$3K	$544	10x	as long as short
Phemex NGUSDTshort	+0.0100%	4h	3.0080	+0.026%	$1.5M	$91K	10x
KuCoin NATGASUSDTM	+0.0170%	4h	3.0060	−0.040%	$1.0M	$886K	20x	as long as short
Aster NATGASUSDT	+0.0185%	4h	3.0064	−0.027%	$265K	$65K	50x	as long as short
Variational Omni NATGAS	+0.0402%	4h	3.0069	−0.010%	$319K	$390K	—	as long as short
Binance NATGASUSDTlong	+0.0421%	4h	3.0072	long leg	$10.4M	$28.5M	100x
edgeX NATGASUSDC	+0.0441%	4h	3.0054	−0.060%	$85K	$212K	20x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0577% / S −0.0589%	1h	3.0075	+0.010%	$88K	—	45x	as long as short
Gate NG_USDT	+0.0579%	8h	3.0090	+0.059%	$1.5M	$195K	100x	as long as short
OKX NG-USDT-SWAP	+0.0619%	8h	3.0050	−0.074%	$854K	$1.8M	50x	as long as short
BloFin NG-USDT	+0.0643%	8h	3.0060	−0.040%	$82K	$198K	20x	as long as short
Kraken Futures PF_NATGASUSD	+0.0860%	1h	3.0090	+0.061%	$56K	$36K	20x	as long as short
Bitget NATGASUSDT	+0.0870%	4h	3.0040	−0.107%	$9.9M	$3.0M	100x	as long as short