NATGAS

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0241%/8h= −26.4% APRnext payment −$1.20 per $10,000 · paid last 24h −0.028%

Price spread now: KuCoin against Variational Omni+0.001%7-day average −0.043% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.013%−$1 on $10k

Price spread, last 4 days (all we have)−0.035%−$3 · spread now +0.001%, 7d avg −0.043%

Together, before fees−0.047%+ Points / potential airdropVariational Omni: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.044% dearer against Variational Omni than usual: you sell high and buy low (spread +0.001% now, against its 7-day average of −0.043%): +$4 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 4 days (−0.013% in total) that is about 12 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.013% in total (about -1.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.20 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	Variational Omni NATGAS	3.0060	0.0561	pay 0.0280% / 4h	2h 09m	$317K	$432K	—
Short	KuCoin NATGASUSDTM	3.0060	0.0320	get 0.0160% / 4h	2h 09m	$1.0M	$946K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee KuCoinbpOrdersPrice spread, now +0.001%Rate

Funding earned: −$50.6
Price spread: +0.001% → −0.043%: $4.36
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$58.24
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 39 min ago; KuCoin: live order book, 5 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 Variational Omni RFQ quote, 39 min ago	4.49 bp	doesn't fit	9.6 bp −$96	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	1.66 bp	15.4 bp −$15	525.5 bp −$5,255	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	2.8471	−5.285%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0092	+0.107%	$2K	$2.4M	20x	as long as short
Hotstuff NATGAS-PERP	+0.0016%	1h	3.0073	+0.044%	$35K	—	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0072	+0.041%	$629K	$504K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0067	+0.025%	$110K	$333K	5x	as long as short
QFEX NATGAS-USD	+0.0033%	1h	3.0070	+0.034%	$660K	$96K	20x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0070	+0.034%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0049	−0.036%	$83K	$26K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0060%	1h	3.0071	+0.037%	$6.0M	$5.6M	10x	as long as short
Paradex NG-USD-PERP	+0.0063%	8h	3.0085	+0.084%	$5K	—	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NATGAS	+0.0100%	1h	3.0072	+0.042%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.199%	$37K	$218K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.199%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0070	+0.034%	$1.5M	$93K	10x	as long as short
HTX NATGAS-USDT	+0.0139%	4h	3.0080	+0.067%	$107K	$212K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0182%	4h	3.0050	−0.032%	$13K	$212K	25x	as long as short
KuCoin NATGASUSDTMshort	+0.0320%	4h	3.0060	+0.001%	$1.0M	$946K	20x
Aster NATGASUSDT	+0.0344%	4h	3.0091	+0.105%	$265K	$75K	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0527% / S −0.0528%	1h	3.0075	+0.051%	$88K	—	45x	as long as short
Variational Omni NATGASlong	+0.0561%	4h	3.0060	long leg	$317K	$432K	—
Binance NATGASUSDT	+0.0587%	4h	3.0070	+0.034%	$10.3M	$28.5M	100x	as long as short
edgeX NATGASUSDC	+0.0608%	4h	3.0060	0.000%	$85K	$211K	20x	as long as short
Gate NG_USDT	+0.0608%	8h	3.0100	+0.134%	$1.5M	$196K	100x	as long as short
BloFin NG-USDT	+0.0644%	8h	3.0060	+0.001%	$82K	$195K	20x	as long as short
OKX NG-USDT-SWAP	+0.0652%	8h	3.0050	−0.032%	$868K	$1.7M	50x	as long as short
Bitget NATGASUSDT	+0.0992%	4h	3.0040	−0.066%	$9.9M	$3.2M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1180%	1h	3.0096	+0.119%	$56K	$35K	20x	as long as short