Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0767%/8h= −84.0% APRpaid last 24h −0.053%

Price spread now: ApeX Omni against Aster−0.134%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$177as in the Funding arb table

Net, price: spread back to 7d avg − costs−$194as in the Price arb table

costs, in and out, $10k−$1811.814% of the position

Long on Aster Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.043%+$4 on $10k

Price spread, last 3 days (all we have)+0.068%+$7 · spread now −0.134%, 7d avg −0.011%

Together, before fees+0.111%+ Points / potential airdropAster: Stage 5 · farm board+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$23 a day on $10k at the current rate, and ApeX Omni is 0.122% cheaper against Aster than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.011%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.043% in total (about 2.2% 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	Aster NATGASUSDT	2.9940	0.0867	pay 0.0434% / 4h	1h 59m	$265K	$105K	50x
Short	ApeX Omni NATGASUSDT	2.9900	0.0100	get 0.0013% / 1h	59m 24s	$36K	$216K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Aster. 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 AsterbpFee ApeX OmnibpOrdersPrice spread, now −0.134%Rate

Funding earned: −$161.08
Price spread: −0.134% → −0.011%: −$12.21
Slippage, 4 orders: −$163.43
Fee Aster: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$354.73
Costs to cover: 1.814%
Break-even: never at this rate

Slippage from Aster: live order book, 22 min ago; ApeX Omni: live order book, 22 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 Aster live order book, 22 min ago	5.01 bp	47.1 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 22 min ago	16.69 bp	61.9 bp −$62	273.0 bp −$2,730	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
SunX NATGAS-USDT	0.0000%	4h	2.9961	+0.070%	$2K	$2.6M	20x	as long as short
QFEX NATGAS-USD	+0.0024%	1h	2.9920	−0.067%	$656K	$119K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9949	+0.030%	$618K	$410K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9890	−0.167%	—	$378	10x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9928	−0.041%	$68K	$34K	10x	as long as short
ApeX Omni NATGASUSDTshort	+0.0100%	1h	2.9900	−0.134%	$36K	$216K	50x
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	2.9900	−0.134%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9950	+0.033%	$1.5M	$103K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0206%	1h	2.9903	−0.124%	$6.0M	$6.4M	10x	as long as short
Paradex NG-USD-PERP	+0.0222%	8h	2.9940	−0.001%	$5K	—	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NG_USDT	+0.0228%	8h	2.9920	−0.067%	$1.5M	$305K	100x	as long as short
Extended XNG-USD	+0.0320%	1h	2.9888	−0.174%	$113K	$1.2M	5x	as long as short
Hotstuff NATGAS-PERP	+0.0376%	1h	2.9956	+0.053%	$35K	—	20x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0416% / S −0.0333%	1h	2.9915	−0.084%	$93K	—	25x	as long as short
OKX NG-USDT-SWAP	+0.0448%	8h	2.9910	−0.100%	$896K	$1.7M	50x	as long as short
BloFin NG-USDT	+0.0448%	8h	2.9910	−0.100%	$84K	$190K	20x	as long as short
KuCoin NATGASUSDTM	+0.0484%	4h	2.9910	−0.100%	$1.0M	$1.3M	20x	as long as short
Ondo Perps NATGAS-USD.P	+0.0516%	1h	2.9959	+0.063%	$84K	$66K	10x	as long as short
HTX NATGAS-USDT	+0.0785%	4h	2.9965	+0.084%	$98K	$218K	75x	as long as short
Aster NATGASUSDTlong	+0.0867%	4h	2.9940	long leg	$265K	$105K	50x
Variational Omni NATGAS	+0.0870%	4h	2.9944	+0.013%	$310K	$491K	—	as long as short
GRVT NATGAS_USDT_Perp	+0.0886%	4h	2.9941	+0.004%	$13K	$255K	25x	as long as short
edgeX NATGASUSDC	+0.0925%	4h	2.9944	+0.013%	$85K	$213K	20x	as long as short
Binance NATGASUSDT	+0.0932%	4h	2.9920	−0.067%	$10.1M	$32.9M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1128%	1h	2.9966	+0.088%	$52K	$55K	20x	as long as short
Bitget NATGASUSDT	+0.1182%	4h	2.9890	−0.167%	$10.0M	$4.1M	100x	as long as short