NG funding rates and arbitrage
Updated 2026-11-11 22:46 UTC
Best NG arbitrage after every cost
At $10,000 per side, held 7 days, after taker fees, order-book slippage and carry.
NG funding rate on every exchange
| Exchange | Contract | Rate | Every | Annualised | Settled 7d, annualised | Open interest | Next settlement |
|---|---|---|---|---|---|---|---|
| OKX | NG-USDT-SWAP | 1.0000% | 8 h | +1095.0% | +471.1% | $5.2M | 2026-11-12 00:00 |
| Paradex | NG-USD-PERP | 0.6447% | 8 h | +706.0% | — | $307.5K | 2026-11-12 00:00 |
| Gate | NG_USDT | 0.5840% | 8 h | +639.5% | +529.0% | $3.3M | 2026-11-12 00:00 |
| Phemex | NGUSDT | 0.0050% | 4 h | +10.9% | — | $2.3M | 2026-11-12 00:00 |
Cost to enter $10,000 of NG
| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| OKX | NG-USDT-SWAP | 12.9 bp * | live order book |
| Phemex | NGUSDT | 22.5 bp | live order book |
| Gate | NG_USDT | 22.8 bp | live order book |
| Paradex | NG-USD-PERP | book can't fill $10,000 | live order book |
Taker fee plus slippage of a market buy of $10,000 from the mid price, at standard (VIP0) fees. * fee estimated: the exchange publishes no fee schedule without an account.
Questions
Is NG funding-rate arbitrage profitable right now?
Not at $10,000 per side for 7 days: no NG pair shows a verified profit after fees and order-book slippage right now. Rates change every hour; the live page re-ranks continuously.
Which exchange has the highest NG funding rate?
OKX at +1095.0% a year (1.0000% every 8 h); the lowest is Phemex at +10.9%. A positive rate is paid by longs to shorts, a negative one by shorts to longs.
The method behind every number on AfterFees is published; Pro opens each figure into its line-by-line calculation. Estimates from current data, not investment advice. We never hold funds or trade for you.