NATGAS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0522%/8h= −57.2% APRnext payment −$2.61 per $10,000 · paid last 24h −0.087%

Price spread now: Phemex against edgeX−0.067%78s7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$138as 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−$1231.228% of the position

Long on edgeX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.147%−$15 on $10k

Price spread, last 4 days (all we have)+0.065%+$7 · spread now −0.067%, 7d avg −0.008%

Together, before fees−0.082%+ Points / potential airdropedgeX: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Phemex is 0.059% cheaper against edgeX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.008%). Swap the legs. The two prices were read 78 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 -0.147% in total (about -7.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.61 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	edgeX NATGASUSDC	3.0050	0.0622	pay 0.0311% / 4h	9m 45s	$85K	$213K	20x
Short	Phemex NGUSDT	3.0030	0.0100	get 0.0050% / 4h	9m 45s	$1.5M	$93K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against edgeX. 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 edgeXbpFee PhemexbpOrdersPrice spread, now −0.067%Rate

Funding earned: −$109.68
Price spread: −0.067% → −0.008%: −$5.9
Slippage, 4 orders: −$101.76
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$238.33
Costs to cover: 1.228%
Break-even: never at this rate

Slippage from edgeX: live order book, 47 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 edgeX live order book, 47 min ago	13.34 bp	33.7 bp −$34	43.4 bp −$434	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	1.66 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
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8451	−5.322%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0042	−0.027%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0022%	1h	3.0020	−0.101%	$669K	$91K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0021	−0.097%	$619K	$494K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0021	−0.096%	$110K	$405K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0030	−0.067%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0030	−0.067%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0054%	8h	3.0045	−0.016%	$5K	—	5x	as long as short
tradeXYZ xyz:NATGAS	+0.0069%	1h	3.0025	−0.084%	$6.0M	$5.7M	10x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0013	−0.124%	$68K	$33K	10x	as long as short

Show 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	−0.167%	$37K	$215K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.167%	$3K	$544	10x	as long as short
Phemex NGUSDTshort	+0.0100%	4h	3.0030	−0.067%	$1.5M	$93K	10x
HTX NATGAS-USDT	+0.0160%	4h	3.0043	−0.024%	$105K	$210K	75x	as long as short
Hotstuff NATGAS-PERP	+0.0208%	1h	3.0040	−0.034%	$35K	—	20x	as long as short
GRVT NATGAS_USDT_Perp	+0.0318%	4h	3.0058	+0.026%	$25K	$227K	25x	as long as short
KuCoin NATGASUSDTM	+0.0322%	4h	3.0020	−0.101%	$1.0M	$1.0M	20x	as long as short
Aster NATGASUSDT	+0.0367%	4h	3.0020	−0.101%	$265K	$72K	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0459% / S −0.0399%	1h	3.0035	−0.051%	$92K	—	45x	as long as short
Gate NG_USDT	+0.0493%	8h	3.0070	+0.066%	$1.5M	$194K	100x	as long as short
OKX NG-USDT-SWAP	+0.0513%	8h	3.0030	−0.067%	$861K	$1.7M	50x	as long as short
BloFin NG-USDT	+0.0537%	8h	3.0040	−0.034%	$81K	$192K	20x	as long as short
Variational Omni NATGAS	+0.0574%	4h	3.0029	−0.069%	$317K	$449K	—	as long as short
Binance NATGASUSDT	+0.0588%	4h	3.0030	−0.067%	$10.2M	$28.5M	100x	as long as short
edgeX NATGASUSDClong	+0.0622%	4h	3.0050	long leg	$85K	$213K	20x
Bitget NATGASUSDT	+0.0968%	4h	3.0000	−0.167%	$9.9M	$3.3M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0994%	1h	3.0040	−0.035%	$54K	$33K	20x	as long as short