Funding you earn now, next payment 12:00 UTC+0.0746%/8h= +81.7% APRnext payment +$3.73 per $10,000 · paid last 24h +0.200%
Price spread now: Bitget against Phemex0.000%56s7-day average −0.045% · you sell dearer than you buy
Net, funding: paid 7d − costs+$17as 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−$850.847% of the position
Funding, last 7 days+1.017%+$102 on $10k
+Price spread, last 4 days (all we have)−0.033%−$3 · spread now 0.000%, 7d avg −0.045%
=Both sides work for this trade now. Funding pays +$22 a day on $10k at the current rate, and Bitget is 0.045% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.045%. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex NGUSDT | 3.0040 | 0.0100 | pay 0.0050% / 4h | 3h 36m | $1.5M | $90K | 10x |
| Short | Bitget NATGASUSDT | 3.0040 | 0.0846 | get 0.0423% / 4h | 3h 36m | $9.9M | $3.0M | 100x |
Phemex NGUSDT
Bitget NATGASUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- $156.66
- Price spread: 0.000% → −0.045%
- $4.49
- Slippage, 4 orders
- −$60.66
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- $76.49
- Costs to cover
- 0.847%
- Break-even
- 3.6 days
Slippage from Phemex: live order book, 2 min ago; Bitget: live order book, 2 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 | 1.66 bp | 33.5 bp −$33 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bitget live order book, 2 min ago | 1.67 bp | 10.5 bp −$11 | 18.9 bp −$189 | 76.7 bp −$7,668 | 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 | |
|---|---|---|---|---|---|---|---|---|
| QFEX NATGAS-USD | 0.0000% | 1h | 3.0050 | +0.033% | $660K | $96K | 20x | as long as short |
| gTrade (Gains Network) NATGAS/USD | L 0.0000% / S 0.0000% | 1h | 2.8406 | −5.439% | — | — | — | as long as short |
| SunX NATGAS-USDT | 0.0000% | 4h | 3.0072 | +0.107% | $2K | $2.4M | 20x | as long as short |
| Lighter NATGAS | +0.0032% | 1h | 3.0045 | +0.017% | $631K | $483K | 10x | as long as short |
| Extended XNG-USD | +0.0032% | 1h | 3.0056 | +0.052% | $109K | $253K | 5x | as long as short |
| Vest NG-PERP | +0.0046% | 1h | 3.0040 | 0.000% | — | $14K | 10x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0050% | 1h | 3.0049 | +0.030% | $6.0M | $5.2M | 10x | as long as short |
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 3.0028 | −0.040% | $82K | $26K | 10x | as long as short |
| Paradex NG-USD-PERP | +0.0051% | 8h | 3.0046 | +0.021% | $5K | — | 5x | as long as short |
| Pacifica NATGAS | +0.0100% | 1h | 3.0034 | −0.019% | $69K | $30K | 10x | as long as short |
QFEX NATGAS-USD
gTrade (Gains Network) NATGAS/USD
SunX NATGAS-USDT
Lighter NATGAS
Extended XNG-USD
Vest NG-PERP
tradeXYZ xyz:NATGAS
Ondo Perps NATGAS-USD.P
Paradex NG-USD-PERP
Pacifica NATGASShow 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 | −0.133% | $37K | $214K | 50x | as long as short |
| Orderly PERP_NATGAS_USDC_mythos | +0.0100% | 8h | 3.0000 | −0.133% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDTlong | +0.0100% | 4h | 3.0040 | long leg | $1.5M | $90K | 10x | |
| Hotstuff NATGAS-PERP | +0.0128% | 1h | 3.0035 | −0.017% | $35K | — | 20x | as long as short |
| KuCoin NATGASUSDTM | +0.0148% | 4h | 3.0030 | −0.033% | $1.0M | $844K | 20x | as long as short |
| Aster NATGASUSDT | +0.0172% | 4h | 3.0039 | −0.004% | $264K | $69K | 50x | as long as short |
| HTX NATGAS-USDT | +0.0180% | 4h | 3.0059 | +0.063% | $119K | $221K | 75x | as long as short |
| GRVT NATGAS_USDT_Perp | +0.0264% | 4h | 3.0030 | −0.033% | $20K | $221K | 25x | as long as short |
| Gate NG_USDT | +0.0298% | 8h | 3.0080 | +0.133% | $1.5M | $193K | 100x | as long as short |
| Variational Omni NATGAS | +0.0344% | 4h | 2.9990 | −0.166% | $318K | $390K | — | as long as short |
| Binance NATGASUSDT | +0.0363% | 4h | 3.0070 | +0.100% | $10.4M | $28.8M | 100x | as long as short |
| edgeX NATGASUSDC | +0.0370% | 4h | 3.0027 | −0.042% | $85K | $212K | 20x | as long as short |
| BloFin NG-USDT | +0.0492% | 8h | 3.0030 | −0.033% | $76K | $198K | 20x | as long as short |
| OKX NG-USDT-SWAP | +0.0506% | 8h | 3.0050 | +0.033% | $801K | $1.9M | 50x | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0599% / S −0.0616% | 1h | 3.0075 | +0.117% | $88K | — | 45x | as long as short |
| Kraken Futures PF_NATGASUSD | +0.0683% | 1h | 3.0063 | +0.075% | $54K | $36K | 20x | as long as short |
| Bitget NATGASUSDTshort | +0.0846% | 4h | 3.0040 | 0.000% | $9.9M | $3.0M | 100x |
ApeX Omni NATGASUSDT
Orderly PERP_NATGAS_USDC_mythos
Hotstuff NATGAS-PERP
KuCoin NATGASUSDTM
Aster NATGASUSDT
HTX NATGAS-USDT
GRVT NATGAS_USDT_Perp
Gate NG_USDT
Variational Omni NATGAS
Binance NATGASUSDT
edgeX NATGASUSDC
BloFin NG-USDT
OKX NG-USDT-SWAP
GMX NATGAS/USD [ETH-USDC]
Kraken Futures PF_NATGASUSD