Funding you earn now, next payment 12:00 UTC−0.0016%/8h= −1.8% APRnext payment −$0.08 per $10,000 · paid last 24h −0.073%
Price spread now: Phemex against Variational Omni−0.060%7-day average −0.005% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.060%−$6 on $10k
+Price spread, last 4 days (all we have)+0.046%+$5 · spread now −0.060%, 7d avg −0.005%
=Together, before fees−0.014%+ Points / potential airdropVariational Omni: Active · farm board−$1 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Phemex is 0.055% cheaper against Variational Omni than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.005%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni NATGAS | 3.0008 | 0.0116 | pay 0.0058% / 4h | 1h 27m | $356K | $420K | — |
| Short | Phemex NGUSDT | 2.9990 | 0.0100 | get 0.0050% / 4h | 1h 27m | $1.5M | $93K | 10x |
Variational Omni NATGAS
Phemex NGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Variational Omni. 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
- −$3.36
- Price spread: −0.060% → −0.005%
- −$5.47
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$20.83
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Variational Omni: RFQ quote, 20 min ago; Phemex: live order book, 4 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, 20 min ago | 4.50 bp | doesn't fit | 8.0 bp −$80 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 1.67 bp | 34.5 bp −$35 | doesn't fit | doesn't fit | doesn't fit |
NATGAS on 27 exchanges
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 | −0.1600% | 1h | 3.0014 | +0.020% | $35K | — | 20x | as long as short |
| Kraken Futures PF_NATGASUSD | −0.0077% | 1h | 3.0004 | −0.013% | $54K | $46K | 20x | as long as short |
| QFEX NATGAS-USD | −0.0004% | 1h | 3.0010 | +0.007% | $661K | $93K | 20x | as long as short |
| GRVT NATGAS_USDT_Perp | 0.0000% | 4h | 3.0005 | −0.009% | $19K | $200K | 25x | as long as short |
| gTrade (Gains Network) NATGAS/USD | L 0.0000% / S 0.0000% | 1h | 2.8354 | −5.512% | — | — | — | as long as short |
| SunX NATGAS-USDT | 0.0000% | 4h | 3.0022 | +0.047% | $2K | $1.7M | 20x | as long as short |
| HTX NATGAS-USDT | 0.0000% | 4h | 3.0024 | +0.053% | $118K | $220K | 75x | as long as short |
| Lighter NATGAS | +0.0032% | 1h | 2.9987 | −0.070% | $648K | $793K | 10x | as long as short |
| Extended XNG-USD | +0.0032% | 1h | 2.9989 | −0.064% | $122K | $368K | 5x | as long as short |
| Aster NATGASUSDT | +0.0035% | 4h | 3.0000 | −0.026% | $258K | $74K | 50x | as long as short |
Hotstuff NATGAS-PERP
Kraken Futures PF_NATGASUSD
QFEX NATGAS-USD
GRVT NATGAS_USDT_Perp
gTrade (Gains Network) NATGAS/USD
SunX NATGAS-USDT
HTX NATGAS-USDT
Lighter NATGAS
Extended XNG-USD
Aster NATGASUSDTShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest NG-PERP | +0.0046% | 1h | 3.0000 | −0.026% | — | $14K | 10x | as long as short |
| tradeXYZ xyz:NATGAS | +0.0050% | 1h | 2.9998 | −0.033% | $6.0M | $4.9M | 10x | as long as short |
| Ondo Perps NATGAS-USD.P | +0.0050% | 1h | 3.0024 | +0.053% | $84K | $28K | 10x | as long as short |
| Paradex NG-USD-PERP | +0.0051% | 8h | 3.0010 | +0.008% | $5K | — | 5x | as long as short |
| Pacifica NATGAS | +0.0100% | 1h | 2.9981 | −0.091% | $68K | $39K | 10x | as long as short |
| ApeX Omni NATGASUSDT | +0.0100% | 1h | 3.0000 | −0.026% | $37K | $215K | 50x | as long as short |
| Orderly PERP_NATGAS_USDC_mythos | +0.0100% | 8h | 3.0000 | −0.026% | $3K | $544 | 10x | as long as short |
| Phemex NGUSDTshort | +0.0100% | 4h | 2.9990 | −0.060% | $1.5M | $93K | 10x | |
| Variational Omni NATGASlong | +0.0116% | 4h | 3.0008 | long leg | $356K | $420K | — | |
| KuCoin NATGASUSDTM | +0.0118% | 4h | 2.9990 | −0.060% | $1.1M | $785K | 20x | as long as short |
| edgeX NATGASUSDC | +0.0198% | 4h | 2.9998 | −0.033% | $85K | $212K | 20x | as long as short |
| Binance NATGASUSDT | +0.0199% | 4h | 2.9990 | −0.060% | $10.0M | $32.6M | 100x | as long as short |
| Gate NG_USDT | +0.0269% | 8h | 3.0040 | +0.107% | $1.5M | $200K | 100x | as long as short |
| OKX NG-USDT-SWAP | +0.0348% | 8h | 3.0000 | −0.026% | $834K | $2.0M | 50x | as long as short |
| BloFin NG-USDT | +0.0364% | 8h | 2.9990 | −0.060% | $80K | $201K | 20x | as long as short |
| GMX NATGAS/USD [ETH-USDC] | L +0.0448% / S −0.0430% | 1h | 3.0005 | −0.010% | $88K | — | 45x | as long as short |
| Bitget NATGASUSDT | +0.0732% | 4h | 2.9960 | −0.160% | $9.9M | $2.8M | 100x | as long as short |
Vest NG-PERP
tradeXYZ xyz:NATGAS
Ondo Perps NATGAS-USD.P
Paradex NG-USD-PERP
Pacifica NATGAS
ApeX Omni NATGASUSDT
Orderly PERP_NATGAS_USDC_mythos
KuCoin NATGASUSDTM
edgeX NATGASUSDC
Binance NATGASUSDT
Gate NG_USDT
OKX NG-USDT-SWAP
BloFin NG-USDT
GMX NATGAS/USD [ETH-USDC]
Bitget NATGASUSDT