Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.50 per $10,000 · paid last 24h +0.007%
Price spread now: Phemex against HTX−0.090%7-day average −0.057% · you buy dearer than you sell
Net, funding: paid 7d − costs−$70as in the Funding arb table
Net, price: spread back to 7d avg − costs−$91as in the Price arb table
costs, in and out, $10k−$870.875% of the position
Funding, last 7 days+0.173%+$17 on $10k
+Price spread, last 3 days (all we have)+0.023%+$2 · spread now −0.090%, 7d avg −0.057%
=Funding pays, the price is against you. Phemex is 0.033% cheaper against HTX than usual: you would sell low and buy high (spread −0.090% now, against its 7-day average of −0.057%). If the spread goes back, that is −$3 on $10k: about 27 hours of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | HTX NATGAS-USDT | 2.9987 | 0 | get 0.0000% / 4h | 13m 17s | $98K | $212K | 75x |
| Short | Phemex NGUSDT | 2.9960 | 0.0100 | get 0.0050% / 4h | 13m 17s | $1.5M | $97K | 10x |
HTX NATGAS-USDT
Phemex NGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against HTX. 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
- $21
- Price spread: −0.090% → −0.057%
- −$3.32
- Slippage, 4 orders
- −$63.46
- Fee HTX: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$69.77
- Costs to cover
- 0.875%
- Break-even
- 30.3 days
Slippage from HTX: live order book, 63 min ago; Phemex: live order book, 5 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 HTX live order book, 63 min ago | 4.17 bp | 10.2 bp −$10 | 18.0 bp −$180 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 1.67 bp | 32.4 bp −$32 | doesn't fit | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| GRVT NATGAS_USDT_Perp | 0.0000% | 4h | 2.9948 | −0.129% | $13K | $238K | 25x | as long as short |
| SunX NATGAS-USDT | 0.0000% | 4h | 2.9972 | −0.050% | $2K | $2.6M | 20x | as long as short |
| HTX NATGAS-USDTlong | 0.0000% | 4h | 2.9987 | long leg | $98K | $212K | 75x | |
| QFEX NATGAS-USD | +0.0030% | 1h | 2.9950 | −0.123% | $657K | $86K | 20x | as long as short |
| Lighter NATGAS | +0.0032% | 1h | 2.9968 | −0.063% | $616K | $419K | 10x | as long as short |
| Extended XNG-USD | +0.0032% | 1h | 2.9943 | −0.146% | $110K | $453K | 5x | as long as short |
| Aster NATGASUSDT | +0.0041% | 4h | 2.9960 | −0.090% | $265K | $73K | 50x | as long as short |
| Vest NG-PERP | +0.0046% | 1h | 2.9960 | −0.090% | — | $378 | 10x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0050% | 1h | 2.9947 | −0.133% | $5.9M | $6.0M | 10x | as long as short |
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 2.9973 | −0.047% | $84K | $43K | 10x | as long as short |
GRVT NATGAS_USDT_Perp
SunX NATGAS-USDT
QFEX NATGAS-USD
Lighter NATGAS
Extended XNG-USD
Aster NATGASUSDT
Vest NG-PERP
tradeXYZ xyz:NATGAS
Ondo Perps NATGAS-USD.PShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex NG-USD-PERP | +0.0065% | 8h | 2.9955 | −0.107% | $5K | — | 5x | as long as short |
| Hotstuff NATGAS-PERP | +0.0072% | 1h | 2.9951 | −0.120% | $35K | — | 20x | as long as short |
| Variational Omni NATGAS | +0.0080% | 4h | 2.9951 | −0.121% | $311K | $443K | — | as long as short |
| Pacifica NATGAS | +0.0100% | 1h | 2.9951 | −0.119% | $68K | $33K | 10x | as long as short |
| KuCoin NATGASUSDTM | +0.0100% | 4h | 2.9950 | −0.123% | $1.0M | $1.2M | 20x | as long as short |
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 2.9900 | −0.290% | $36K | $217K | 50x | as long as short |
| Orderly PERP_NATGAS_USDC_mythos | +0.0100% | 8h | 3.0000 | +0.043% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDTshort | +0.0100% | 4h | 2.9960 | −0.090% | $1.5M | $97K | 10x | |
| OKX NG-USDT-SWAP | +0.0121% | 8h | 2.9960 | −0.090% | $856K | $1.7M | 50x | as long as short |
| BloFin NG-USDT | +0.0151% | 8h | 2.9960 | −0.090% | $80K | $189K | 20x | as long as short |
| Gate NG_USDT | +0.0167% | 8h | 2.9980 | −0.023% | $1.5M | $285K | 100x | as long as short |
| Binance NATGASUSDT | +0.0167% | 4h | 2.9950 | −0.123% | $10.1M | $29.9M | 100x | as long as short |
| edgeX NATGASUSDC | +0.0204% | 4h | 2.9951 | −0.121% | $85K | $213K | 20x | as long as short |
| Bitget NATGASUSDT | +0.0260% | 4h | 2.9930 | −0.190% | $10.0M | $3.7M | 100x | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0406% / S −0.0333% | 1h | 2.9955 | −0.107% | $93K | — | 45x | as long as short |
| Kraken Futures PF_NATGASUSD | +0.1217% | 1h | 2.9965 | −0.075% | $52K | $39K | 20x | as long as short |
Paradex NG-USD-PERP
Hotstuff NATGAS-PERP
Variational Omni NATGAS
Pacifica NATGAS
KuCoin NATGASUSDTM
ApeX Omni NATGASUSDT
Orderly PERP_NATGAS_USDC_mythos
OKX NG-USDT-SWAP
BloFin NG-USDT
Gate NG_USDT
Binance NATGASUSDT
edgeX NATGASUSDC
Bitget NATGASUSDT
GMX NATGAS/USD [ETH-USDC]
Kraken Futures PF_NATGASUSD