Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0410%/8h= +44.9% APRpaid last 24h +0.053%

Price spread now: Aster against ApeX Omni−0.209%59s7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$167as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1641.637% of the position

Long on ApeX Omni Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 3 days (all we have)+0.252%+$25 · spread now −0.209%, 7d avg +0.013%

Together, before fees+0.216%+ Points / potential airdropAster: Stage 5 · farm board+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.222% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.209% now, against its 7-day average of +0.013%). If the spread goes back, that is −$22 on $10k: about 43 hours of funding at the current rate (+$12 a day). The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.036% in total (about -1.9% a year). A funding rate is set anew for every payment. 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	ApeX Omni NATGASUSDT	3.0000	0.0100	pay 0.0013% / 1h	14m 35s	$37K	$216K	50x
Short	Aster NATGASUSDT	2.9937	0.0510	get 0.0255% / 4h	1h 14m	$265K	$105K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against ApeX Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 ApeX OmnibpFee AsterbpOrdersPrice spread, now −0.209%Rate

Funding earned: $86.2
Price spread: −0.209% → +0.013%: −$22.18
Slippage, 4 orders: −$145.75
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$99.73
Costs to cover: 1.637%
Break-even: 15.1 days

Slippage from ApeX Omni: live order book, 2 min ago; Aster: live order book, 2 min ago.

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 ApeX Omni live order book, 2 min ago	16.69 bp	54.7 bp −$55	263.4 bp −$2,634	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	5.01 bp	12.2 bp −$12	15.6 bp −$156	doesn't fit	doesn't fit

NATGAS on 26 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
Hotstuff NATGAS-PERP	0.0000%	1h	2.9928	−0.240%	$35K	—	20x	as long as short
SunX NATGAS-USDT	0.0000%	4h	2.9961	−0.130%	$2K	$2.6M	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9925	−0.250%	$618K	$411K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9920	−0.267%	—	$378	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9927	−0.243%	$84K	$49K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0054%	1h	2.9928	−0.240%	$5.9M	$6.0M	10x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9909	−0.303%	$68K	$34K	10x	as long as short
ApeX Omni NATGASUSDTlong	+0.0100%	1h	3.0000	long leg	$37K	$216K	50x
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	2.9900	−0.333%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9940	−0.200%	$1.5M	$100K	10x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex NG-USD-PERP	+0.0111%	8h	2.9940	−0.200%	$5K	—	5x	as long as short
QFEX NATGAS-USD	+0.0160%	1h	2.9930	−0.233%	$656K	$86K	20x	as long as short
KuCoin NATGASUSDTM	+0.0174%	4h	2.9920	−0.267%	$1.0M	$1.2M	20x	as long as short
HTX NATGAS-USDT	+0.0193%	4h	2.9958	−0.140%	$98K	$215K	75x	as long as short
Gate NG_USDT	+0.0226%	8h	2.9960	−0.133%	$1.5M	$307K	100x	as long as short
Extended XNG-USD	+0.0256%	1h	2.9908	−0.307%	$110K	$471K	5x	as long as short
OKX NG-USDT-SWAP	+0.0305%	8h	2.9930	−0.233%	$856K	$1.7M	50x	as long as short
BloFin NG-USDT	+0.0327%	8h	2.9940	−0.200%	$80K	$189K	20x	as long as short
GRVT NATGAS_USDT_Perp	+0.0332%	4h	2.9930	−0.233%	$13K	$246K	25x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0406% / S −0.0333%	1h	2.9945	−0.183%	$93K	—	45x	as long as short
Aster NATGASUSDTshort	+0.0510%	4h	2.9937	−0.209%	$265K	$105K	50x
Kraken Futures PF_NATGASUSD	+0.0515%	1h	2.9953	−0.156%	$52K	$44K	20x	as long as short
Variational Omni NATGAS	+0.0534%	4h	2.9931	−0.229%	$311K	$446K	—	as long as short
Binance NATGASUSDT	+0.0595%	4h	2.9950	−0.168%	$10.1M	$30.9M	100x	as long as short
edgeX NATGASUSDC	+0.0637%	4h	2.9932	−0.226%	$85K	$213K	20x	as long as short
Bitget NATGASUSDT	+0.0790%	4h	2.9910	−0.300%	$10.0M	$4.0M	100x	as long as short