Natural Gas (NATGAS)

Perp: NATGAS on HL · Hedge: /NG (Futures)

Funding (ann.)

-2.6%

Basis

-0.54%

Open interest

$10,730,674

Status

delayed

Research note: funding below research threshold

Funding rate — annualized, 6053 settlement snapshots

Timezone: UTC · Units: % annualized · Source: dellserver funding-arb daemon (delayed export) · Last update: 2026-10-31T11:45:01+00:00

Basis — (perp mark − hedge) / hedge

Timezone: UTC · Units: % · Source: dellserver funding-arb daemon (delayed export) · Last update: 2026-10-31T11:45:01+00:00

Open interest — historical liquidity

Timezone: UTC · Units: USD notional · Source: dellserver funding-arb daemon (delayed export) · Last update: 2026-10-31T11:45:01+00:00

Persistence

0% of snapshots over the trailing 168h met the research condition: FR <= -100% APR, 7-day window.

Opened	Direction	Status	Net P&L	All-in P&L	Close reason
2026-10-06 20:18 UTC	short_hl_long_ib	closed	+$541.25	-$42.70	emergency FR=-220%
2026-09-08 16:04 UTC	short_hl_long_ib	closed	+$410.82	+$129.59	emergency FR=-123%
2026-06-09 16:04 UTC	short_hl_long_ib	closed	+$193.18	—	neg_FR_grace 4.0h

The hedge leg only trades during its market's own hours; the perp trades 24/7 — see Methodology for how naked-leg windows are handled.
Funding and basis figures are delayed, not real-time — see the status strip at the top of every page.