Funding you earn now, next payment 02:00 UTC−0.0725%/8h= −79.4% APRpaid last 24h −0.161%
Price spread now: Phemex against Kraken Futures−0.059%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.477%−$48 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and Phemex is 0.059% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.477% in total (about -24.9% a year). A funding rate is set anew for every payment. 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 | Kraken Futures PF_NATGASUSD | 3.0028 | 0.0825 | pay 0.0103% / 1h | 14m 31s | $53K | $38K | 20x |
| Short | Phemex NGUSDT | 3.0010 | 0.0100 | get 0.0050% / 4h | 2h 14m | $1.5M | $95K | 10x |
Kraken Futures PF_NATGASUSD
Phemex NGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Kraken Futures. 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
- −$152.31
- Price spread: −0.059% → 0.000%
- −$5.9
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$180.21
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: no order-book sample; Phemex: live order book, 3 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 Kraken Futures no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 3 min ago | 1.67 bp | 28.4 bp −$28 | doesn't fit | doesn't fit | doesn't fit |
Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff NATGAS-PERP | −0.0040% | 1h | 3.0003 | −0.082% | $35K | — | 20x | as long as short |
| gTrade (Gains Network) NATGAS/USD | L 0.0000% / S 0.0000% | 1h | 2.8361 | −5.551% | — | — | — | as long as short |
| SunX NATGAS-USDT | 0.0000% | 4h | 3.0032 | +0.014% | $2K | $2.5M | 20x | as long as short |
| QFEX NATGAS-USD | +0.0019% | 1h | 3.0010 | −0.059% | $658K | $86K | 20x | as long as short |
| Lighter NATGAS | +0.0032% | 1h | 3.0018 | −0.032% | $618K | $445K | 10x | as long as short |
| Vest NG-PERP | +0.0046% | 1h | 3.0000 | −0.092% | — | $378 | 10x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0050% | 1h | 2.9992 | −0.119% | $5.9M | $5.9M | 10x | as long as short |
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 3.0030 | +0.008% | $82K | $27K | 10x | as long as short |
| Extended XNG-USD | +0.0072% | 1h | 2.9993 | −0.115% | $110K | $449K | 5x | as long as short |
| Paradex NG-USD-PERP | +0.0072% | 8h | 3.0015 | −0.044% | $5K | — | 5x | as long as short |
Hotstuff NATGAS-PERP
gTrade (Gains Network) NATGAS/USD
SunX NATGAS-USDT
QFEX NATGAS-USD
Lighter NATGAS
Vest NG-PERP
tradeXYZ xyz:NATGAS
Ondo Perps NATGAS-USD.P
Extended XNG-USD
Paradex NG-USD-PERPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica NATGAS | +0.0100% | 1h | 3.0004 | −0.079% | $68K | $33K | 10x | as long as short |
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 3.0000 | −0.092% | $37K | $218K | 50x | as long as short |
| Orderly PERP_NATGAS_USDC_mythos | +0.0100% | 8h | 3.0000 | −0.092% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDTshort | +0.0100% | 4h | 3.0010 | −0.059% | $1.5M | $95K | 10x | |
| KuCoin NATGASUSDTM | +0.0166% | 4h | 3.0010 | −0.059% | $1.0M | $1.1M | 20x | as long as short |
| Aster NATGASUSDT | +0.0235% | 4h | 3.0008 | −0.066% | $265K | $73K | 50x | as long as short |
| HTX NATGAS-USDT | +0.0245% | 4h | 3.0058 | +0.101% | $98K | $212K | 75x | as long as short |
| OKX NG-USDT-SWAP | +0.0355% | 8h | 3.0000 | −0.092% | $860K | $1.7M | 50x | as long as short |
| Variational Omni NATGAS | +0.0384% | 4h | 3.0009 | −0.061% | $311K | $444K | — | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0422% / S −0.0359% | 1h | 3.0005 | −0.076% | $92K | — | 45x | as long as short |
| GRVT NATGAS_USDT_Perp | +0.0426% | 4h | 3.0018 | −0.033% | $12K | $214K | 25x | as long as short |
| Gate NG_USDT | +0.0433% | 8h | 3.0040 | +0.041% | $1.5M | $219K | 100x | as long as short |
| edgeX NATGASUSDC | +0.0436% | 4h | 3.0009 | −0.061% | $85K | $213K | 20x | as long as short |
| Binance NATGASUSDT | +0.0447% | 4h | 3.0007 | −0.068% | $10.2M | $29.1M | 100x | as long as short |
| Bitget NATGASUSDT | +0.0700% | 4h | 2.9970 | −0.192% | $9.9M | $3.4M | 100x | as long as short |
| Kraken Futures PF_NATGASUSDlong | +0.0825% | 1h | 3.0028 | long leg | $53K | $38K | 20x |
Pacifica NATGAS
ApeX Omni NATGASUSDT
Orderly PERP_NATGAS_USDC_mythos
KuCoin NATGASUSDTM
Aster NATGASUSDT
HTX NATGAS-USDT
OKX NG-USDT-SWAP
Variational Omni NATGAS
GMX NATGAS/USD [ETH-USDC]
GRVT NATGAS_USDT_Perp
Gate NG_USDT
edgeX NATGASUSDC
Binance NATGASUSDT
Bitget NATGASUSDT