NATGAS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.50 per $10,000 · paid last 24h −0.030%

Price spread now: SunX against Phemex+0.040%7-day average +0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$141as in the Funding arb table

Net, price: spread back to 7d avg − costs−$122as in the Price arb table

costs, in and out, $10k−$1201.195% of the position

Long on Phemex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.210%−$21 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now +0.040%, 7d avg +0.068%

Together, before fees−0.194%−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and SunX is 0.028% cheaper against Phemex than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.068%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NGUSDT	3.0060	0.0100	pay 0.0050% / 4h	34m 37s	$1.5M	$94K	10x
Short	SunX NATGAS-USDT	3.0072	0	get 0.0000% / 4h	34m 37s	$2K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Phemex. 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 PhemexbpFee SunXbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$21
Price spread: +0.040% → +0.068%: −$2.77
Slippage, 4 orders: −$99.52
Fee Phemex: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$143.29
Costs to cover: 1.195%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; SunX: 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, 3 min ago	3.33 bp	34.0 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 2 min ago	15.13 bp	28.1 bp −$28	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	2.8470	−5.289%	—	—	—	as long as short
SunX NATGAS-USDTshort	0.0000%	4h	3.0072	+0.040%	$2K	$2.4M	20x
QFEX NATGAS-USD	+0.0022%	1h	3.0040	−0.067%	$659K	$85K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0046	−0.047%	$619K	$494K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0038	−0.074%	$110K	$432K	5x	as long as short
Hotstuff NATGAS-PERP	+0.0040%	1h	3.0053	−0.023%	$35K	—	20x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0050	−0.033%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0040	−0.067%	$83K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0056%	8h	3.0056	−0.014%	$5K	—	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0045	−0.050%	$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	−0.200%	$37K	$216K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.200%	$3K	$544	10x	as long as short
Phemex NGUSDTlong	+0.0100%	4h	3.0060	long leg	$1.5M	$94K	10x
tradeXYZ xyz:NATGAS	+0.0114%	1h	3.0050	−0.033%	$6.0M	$5.9M	10x	as long as short
HTX NATGAS-USDT	+0.0215%	4h	3.0076	+0.053%	$105K	$212K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0348%	4h	3.0041	−0.063%	$25K	$227K	25x	as long as short
KuCoin NATGASUSDTM	+0.0370%	4h	3.0040	−0.067%	$1.1M	$1.0M	20x	as long as short
Aster NATGASUSDT	+0.0407%	4h	3.0043	−0.058%	$266K	$73K	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0453% / S −0.0392%	1h	3.0055	−0.017%	$92K	—	45x	as long as short
Gate NG_USDT	+0.0458%	8h	3.0080	+0.067%	$1.5M	$192K	100x	as long as short
OKX NG-USDT-SWAP	+0.0487%	8h	3.0050	−0.033%	$855K	$1.7M	50x	as long as short
BloFin NG-USDT	+0.0510%	8h	3.0050	−0.033%	$80K	$188K	20x	as long as short
Variational Omni NATGAS	+0.0601%	4h	3.0050	−0.034%	$312K	$444K	—	as long as short
edgeX NATGASUSDC	+0.0623%	4h	3.0051	−0.031%	$85K	$212K	20x	as long as short
Binance NATGASUSDT	+0.0624%	4h	3.0050	−0.033%	$10.2M	$28.6M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0993%	1h	3.0067	+0.024%	$54K	$34K	20x	as long as short
Bitget NATGASUSDT	+0.1004%	4h	3.0020	−0.133%	$9.9M	$3.3M	100x	as long as short