FET / NIGHT ratio and spread
1 FET = 5.896 NIGHT. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 0.506 and the correlation between the legs is 0.33.
If you hold FET · If you hold NIGHT
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Key numbers
over 206 daily candles
How each of these is computed: regression spread, hedge ratio, spread z-score, half-life, correlation.
What the numbers say
The legs barely move together: correlation of daily log returns is only 0.33. A spread built on such a weak link reverts by coincidence rather than by mechanism.
The spread is at 0.52 standard deviations from its rolling mean, which is effectively at its own norm.
Historically the spread covers half the way back to its mean in about 6 days, so a divergence here tends to resolve within weeks rather than months.
The current ratio sits mid-range — 42% of the way from the low to the high of the last 206 daily candles.
Frequently asked
How many NIGHT is 1 FET?
1 FET is worth 5.89582 NIGHT at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the FET/NIGHT range?
Over the last 206 daily candles the ratio traded between 3.11509 (11.03.2026) and 9.78192 (26.09.2026).
Are FET and NIGHT correlated?
The correlation of daily log returns between FET and NIGHT is 0.33, which counts as a weak link. Log returns are used rather than prices: two rising assets correlate almost by default, joint day-to-day movement is what matters.
What is the FET/NIGHT spread z-score now?
The z-score is 0.52 — the spread is within its usual range. It measures how far the regression residual log(A) − β·log(B) sits from its rolling mean, in standard deviations.
Is FET/NIGHT suitable for a pair trade?
Weakly. Correlation is only 0.33, so the legs do not reliably move together and the spread carries mostly idiosyncratic noise.
Related pairs
Other pairs sharing a leg with this one.
All figures are computed from exchange data and describe past behaviour. Nothing here is investment advice.