Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0608%/8h= +66.6% APRpaid last 24h +0.200%

Price spread now: Bitget against ApeX Omni−0.167%63s7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as 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−$1681.680% of the position

Long on ApeX Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+1.017%+$102 on $10k

Price spread, last 4 days (all we have)+0.189%+$19 · spread now −0.167%, 7d avg −0.038%

Together, before fees+1.205%+$121 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.128% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.167% now, against its 7-day average of −0.038%). If the spread goes back, that is −$13 on $10k: about 17 hours of funding at the current rate (+$18 a day). The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

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	56m 29s	$37K	$215K	50x
Short	Bitget NATGASUSDT	2.9950	0.0708	get 0.0354% / 4h	1h 56m	$9.9M	$2.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.167%Rate

Funding earned: $127.68
Price spread: −0.167% → −0.038%: −$12.84
Slippage, 4 orders: −$146.04
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$53.2
Costs to cover: 1.680%
Break-even: 9.9 days

Slippage from ApeX Omni: live order book, 52 min ago; Bitget: live order book, 5 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, 52 min ago	33.33 bp	71.3 bp −$71	259.3 bp −$2,593	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	1.67 bp	10.8 bp −$11	20.5 bp −$205	78.4 bp −$7,842	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	3.0035	+0.117%	$35K	—	20x	as long as short
Kraken Futures PF_NATGASUSD	−0.0077%	1h	2.9987	−0.042%	$54K	$45K	20x	as long as short
QFEX NATGAS-USD	−0.0004%	1h	2.9970	−0.100%	$660K	$99K	20x	as long as short
tradeXYZ xyz:NATGAS	−0.0001%	1h	2.9969	−0.103%	$6.0M	$5.0M	10x	as long as short
Aster NATGASUSDT	0.0000%	4h	2.9993	−0.024%	$259K	$73K	50x	as long as short
GRVT NATGAS_USDT_Perp	0.0000%	4h	3.0030	+0.100%	$19K	$208K	25x	as long as short
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8371	−5.430%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0012	+0.040%	$2K	$1.7M	20x	as long as short
HTX NATGAS-USDT	0.0000%	4h	3.0003	+0.010%	$118K	$221K	75x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9963	−0.123%	$676K	$761K	10x	as long as short

Show all 27 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XNG-USD	+0.0032%	1h	2.9977	−0.078%	$141K	$349K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9990	−0.033%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0004	+0.013%	$84K	$28K	10x	as long as short
Paradex NG-USD-PERP	+0.0052%	8h	2.9975	−0.082%	$5K	—	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9957	−0.145%	$68K	$39K	10x	as long as short
ApeX Omni NATGASUSDTlong	+0.0100%	1h	3.0000	long leg	$37K	$215K	50x
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	0.000%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9990	−0.033%	$1.5M	$92K	10x	as long as short
Variational Omni NATGAS	+0.0125%	4h	3.0028	+0.093%	$356K	$429K	—	as long as short
KuCoin NATGASUSDTM	+0.0150%	4h	2.9970	−0.100%	$1.1M	$808K	20x	as long as short
Binance NATGASUSDT	+0.0166%	4h	2.9970	−0.100%	$9.6M	$31.8M	100x	as long as short
edgeX NATGASUSDC	+0.0209%	4h	3.0028	+0.093%	$85K	$212K	20x	as long as short
Gate NG_USDT	+0.0256%	8h	2.9990	−0.033%	$1.5M	$199K	100x	as long as short
BloFin NG-USDT	+0.0343%	8h	2.9980	−0.067%	$80K	$200K	20x	as long as short
OKX NG-USDT-SWAP	+0.0364%	8h	2.9960	−0.133%	$831K	$2.0M	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0493% / S −0.0486%	1h	2.9995	−0.017%	$88K	—	45x	as long as short
Bitget NATGASUSDTshort	+0.0708%	4h	2.9950	−0.167%	$9.9M	$2.9M	100x