Funding you earn now, next payment 08:00 UTC+0.0497%/8h= +54.4% APRnext payment +$2.49 per $10,000 · paid last 24h +0.098%
Price spread now: Binance against Phemex+0.014%7-day average +0.027% · you sell dearer than you buy
Net, funding: paid 7d − costs−$63as in the Funding arb table
Net, price: spread back to 7d avg − costs−$79as in the Price arb table
costs, in and out, $10k−$780.780% of the position
Funding, last 7 days+0.154%+$15 on $10k
+Price spread, last 4 days (all we have)+0.074%+$7 · spread now +0.014%, 7d avg +0.027%
=The price spread sits at its 7-day average of +0.027%, so right now this pair is about funding alone: +$15 a day on $10k at the current rate.
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 +$2.49 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 | Phemex NGUSDT | 3.0020 | 0.0100 | pay 0.0050% / 4h | 3h 40m | $1.5M | $93K | 10x |
| Short | Binance NATGASUSDT | 3.0024 | 0.0597 | get 0.0299% / 4h | 3h 40m | $10.2M | $28.4M | 100x |
Phemex NGUSDT
Binance NATGASUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phemex. 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
- $104.42
- Price spread: +0.014% → +0.027%
- −$1.34
- Slippage, 4 orders
- −$55.98
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $25.1
- Costs to cover
- 0.780%
- Break-even
- 5.3 days
Slippage from Phemex: live order book, 2 min ago; Binance: live order book, 1 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 Phemex live order book, 2 min ago | 1.67 bp | 33.5 bp −$34 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 1 min ago | 1.66 bp | 7.7 bp −$8 | 11.6 bp −$116 | 39.2 bp −$3,924 | 130.8 bp −$65.4K |
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 | 2.8414 | −5.350% | — | — | — | as long as short |
| SunX NATGAS-USDT | 0.0000% | 4h | 3.0031 | +0.037% | $2K | $2.4M | 20x | as long as short |
| QFEX NATGAS-USD | +0.0009% | 1h | 3.0020 | 0.000% | $669K | $91K | 20x | as long as short |
| Lighter NATGAS | +0.0032% | 1h | 3.0007 | −0.043% | $626K | $501K | 10x | as long as short |
| Extended XNG-USD | +0.0032% | 1h | 3.0004 | −0.053% | $110K | $395K | 5x | as long as short |
| Vest NG-PERP | +0.0046% | 1h | 3.0010 | −0.033% | — | $14K | 10x | as long as short |
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 2.9999 | −0.070% | $82K | $26K | 10x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0057% | 1h | 3.0009 | −0.037% | $6.0M | $5.7M | 10x | as long as short |
| Hotstuff NATGAS-PERP | +0.0072% | 1h | 3.0002 | −0.060% | $35K | — | 20x | as long as short |
| Paradex NG-USD-PERP | +0.0075% | 8h | 3.0027 | +0.025% | $5K | — | 5x | as long as short |
gTrade (Gains Network) NATGAS/USD
SunX NATGAS-USDT
QFEX NATGAS-USD
Lighter NATGAS
Extended XNG-USD
Vest NG-PERP
Ondo Perps NATGAS-USD.P
tradeXYZ xyz:NATGAS
Hotstuff NATGAS-PERP
Paradex NG-USD-PERPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica NATGAS | +0.0100% | 1h | 2.9988 | −0.107% | $68K | $33K | 10x | as long as short |
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 3.0000 | −0.067% | $37K | $217K | 50x | as long as short |
| Orderly PERP_NATGAS_USDC_mythos | +0.0100% | 8h | 3.0000 | −0.067% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDTlong | +0.0100% | 4h | 3.0020 | long leg | $1.5M | $93K | 10x | |
| KuCoin NATGASUSDTM | +0.0328% | 4h | 3.0010 | −0.033% | $1.0M | $1.0M | 20x | as long as short |
| Aster NATGASUSDT | +0.0374% | 4h | 3.0043 | +0.077% | $264K | $74K | 50x | as long as short |
| HTX NATGAS-USDT | +0.0403% | 4h | 3.0054 | +0.113% | $107K | $214K | 75x | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0472% / S −0.0414% | 1h | 3.0025 | +0.017% | $92K | — | 45x | as long as short |
| Gate NG_USDT | +0.0531% | 8h | 3.0050 | +0.100% | $1.5M | $192K | 100x | as long as short |
| OKX NG-USDT-SWAP | +0.0557% | 8h | 3.0010 | −0.033% | $861K | $1.7M | 50x | as long as short |
| Variational Omni NATGAS | +0.0576% | 4h | 3.0020 | −0.001% | $316K | $449K | — | as long as short |
| BloFin NG-USDT | +0.0580% | 8h | 2.9990 | −0.100% | $81K | $191K | 20x | as long as short |
| GRVT NATGAS_USDT_Perp | +0.0596% | 4h | 3.0017 | −0.010% | $12K | $230K | 25x | as long as short |
| Binance NATGASUSDTshort | +0.0597% | 4h | 3.0024 | +0.014% | $10.2M | $28.4M | 100x | |
| edgeX NATGASUSDC | +0.0617% | 4h | 3.0012 | −0.026% | $85K | $211K | 20x | as long as short |
| Kraken Futures PF_NATGASUSD | +0.0856% | 1h | 3.0040 | +0.067% | $56K | $35K | 20x | as long as short |
| Bitget NATGASUSDT | +0.0978% | 4h | 2.9990 | −0.100% | $9.9M | $3.2M | 100x | as long as short |
Pacifica NATGAS
ApeX Omni NATGASUSDT
Orderly PERP_NATGAS_USDC_mythos
KuCoin NATGASUSDTM
Aster NATGASUSDT
HTX NATGAS-USDT
GMX NATGAS/USD [ETH-USDC]
Gate NG_USDT
OKX NG-USDT-SWAP
Variational Omni NATGAS
BloFin NG-USDT
GRVT NATGAS_USDT_Perp
edgeX NATGASUSDC
Kraken Futures PF_NATGASUSD
Bitget NATGASUSDT