Funding you earn now, next payment 08:00 UTC−0.0728%/8h= −79.7% APRnext payment −$3.64 per $10,000 · paid last 24h −0.213%
Price spread now: Phemex against Bitget+0.067%7-day average +0.044% · you sell dearer than you buy
Net, funding: paid 7d − costs−$196as in the Funding arb table
Net, price: spread back to 7d avg − costs−$97as in the Price arb table
costs, in and out, $10k−$990.989% of the position
Funding, last 7 days−0.976%−$98 on $10k
+Price spread, last 4 days (all we have)−0.017%−$2 · spread now +0.067%, 7d avg +0.044%
=The price spread pays, funding is against you. Phemex is 0.022% dearer against Bitget than usual: you sell high and buy low (spread +0.067% now, against its 7-day average of +0.044%): +$2 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 2 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget NATGASUSDT | 2.9990 | 0.0828 | pay 0.0414% / 4h | 9m 54s | $9.9M | $3.0M | 100x |
| Short | Phemex NGUSDT | 3.0010 | 0.0100 | get 0.0050% / 4h | 9m 54s | $1.5M | $90K | 10x |
Bitget NATGASUSDT
Phemex NGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Bitget. 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
- −$152.88
- Price spread: +0.067% → +0.044%
- $2.24
- Slippage, 4 orders
- −$74.88
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$249.52
- Costs to cover
- 0.989%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 4 min ago; Phemex: 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 Bitget live order book, 4 min ago | 1.67 bp | 11.7 bp −$12 | 22.8 bp −$228 | 61.6 bp −$6,160 | doesn't fit |
| Sell Phemex live order book, 3 min ago | 5.00 bp | 33.9 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 | −0.0024% | 1h | 3.0016 | +0.087% | $35K | — | 20x | as long as short |
| gTrade (Gains Network) NATGAS/USD | L 0.0000% / S 0.0000% | 1h | 2.8385 | −5.352% | — | — | — | as long as short |
| SunX NATGAS-USDT | 0.0000% | 4h | 3.0032 | +0.140% | $2K | $2.4M | 20x | as long as short |
| HTX NATGAS-USDT | 0.0000% | 4h | 3.0026 | +0.120% | $117K | $216K | 75x | as long as short |
| QFEX NATGAS-USD | +0.0004% | 1h | 3.0010 | +0.067% | $659K | $96K | 20x | as long as short |
| Lighter NATGAS | +0.0032% | 1h | 3.0025 | +0.117% | $631K | $495K | 10x | as long as short |
| Extended XNG-USD | +0.0032% | 1h | 3.0010 | +0.066% | $109K | $273K | 5x | as long as short |
| Vest NG-PERP | +0.0046% | 1h | 3.0010 | +0.067% | — | $14K | 10x | as long as short |
| GRVT NATGAS_USDT_Perp | +0.0046% | 4h | 3.0012 | +0.072% | $15K | $222K | 25x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0050% | 1h | 3.0019 | +0.097% | $6.0M | $5.2M | 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
Vest NG-PERP
GRVT NATGAS_USDT_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 | 3.0058 | +0.227% | $82K | $26K | 10x | as long as short |
| Paradex NG-USD-PERP | +0.0051% | 8h | 3.0024 | +0.113% | $5K | — | 5x | as long as short |
| Pacifica NATGAS | +0.0100% | 1h | 3.0004 | +0.047% | $69K | $32K | 10x | as long as short |
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 3.0000 | +0.033% | $37K | $215K | 50x | as long as short |
| Orderly PERP_NATGAS_USDC_mythos | +0.0100% | 8h | 3.0000 | +0.033% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDTshort | +0.0100% | 4h | 3.0010 | +0.067% | $1.5M | $90K | 10x | |
| KuCoin NATGASUSDTM | +0.0142% | 4h | 3.0000 | +0.033% | $1.0M | $868K | 20x | as long as short |
| Aster NATGASUSDT | +0.0155% | 4h | 3.0040 | +0.167% | $264K | $69K | 50x | as long as short |
| Variational Omni NATGAS | +0.0349% | 4h | 3.0011 | +0.071% | $318K | $390K | — | as long as short |
| Binance NATGASUSDT | +0.0372% | 4h | 3.0010 | +0.067% | $10.4M | $28.6M | 100x | as long as short |
| edgeX NATGASUSDC | +0.0394% | 4h | 3.0016 | +0.086% | $85K | $213K | 20x | as long as short |
| BloFin NG-USDT | +0.0546% | 8h | 3.0020 | +0.100% | $80K | $198K | 20x | as long as short |
| OKX NG-USDT-SWAP | +0.0559% | 8h | 3.0000 | +0.033% | $802K | $1.8M | 50x | as long as short |
| Gate NG_USDT | +0.0572% | 8h | 3.0040 | +0.167% | $1.5M | $196K | 100x | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0589% / S −0.0604% | 1h | 3.0015 | +0.083% | $88K | — | 45x | as long as short |
| Bitget NATGASUSDTlong | +0.0828% | 4h | 2.9990 | long leg | $9.9M | $3.0M | 100x | |
| Kraken Futures PF_NATGASUSD | +0.0862% | 1h | 3.0031 | +0.137% | $55K | $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
Variational Omni NATGAS
Binance NATGASUSDT
edgeX NATGASUSDC
BloFin NG-USDT
OKX NG-USDT-SWAP
Gate NG_USDT
GMX NATGAS/USD [ETH-USDC]
Kraken Futures PF_NATGASUSD