Settings8H · net · $10k
Funding arb · Price arb /

NATGAS

RWAall NATGAS markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 22:00 UTC−0.0434%/8h= −47.5% APRpaid last 24h −0.070%
Price spread now: Extended against Aster−0.079%7-day average −0.019% · 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−$77as in the Price arb table
costs, in and out, $10k−$710.711% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.052%+$5 on $10k
Price spread, last 4 days (all we have)+0.028%+$3 · spread now −0.079%, 7d avg −0.019%
Together, before fees+0.080%+ Points / potential airdropAster: Stage 5 · Extended: Active · farm board+$8 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Extended is 0.059% cheaper against Aster than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.019%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.052%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.052% in total (about 2.7% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongAster NATGASUSDT2.99400.0826pay 0.0413% / 4h2h 11m$265K$105K50x
ShortExtended XNG-USD2.99160.0392get 0.0049% / 1h11m 33s$112K$1.2M5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Extended 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

Funding earned
−$91.14
Price spread: −0.079% → −0.019%
−$5.93
Slippage, 4 orders
−$58.05
Fee Aster: 4 bp × 2 orders
−$8
Fee Extended: 2.5 bp × 2 orders
−$5
Net
−$168.12
Costs to cover
0.711%
Break-even
never at this rate
Slippage from Aster: live order book, 10 min ago; Extended: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Aster live order book, 10 min ago5.01 bp47.1 bp −$47doesn't fitdoesn't fitdoesn't fit
Sell Extended live order book, 2 min ago0.50 bp3.4 bp −$38.0 bp −$80doesn't fitdoesn't fit

NATGAS on 26 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SunX NATGAS-USDT0.0000%4h2.9961+0.070%$2K$2.6M20xas long as short
QFEX NATGAS-USD+0.0024%1h2.9930−0.033%$657K$120K20xas long as short
Lighter NATGAS+0.0032%1h2.9950+0.033%$618K$412K10xas long as short
Vest NG-PERP+0.0046%1h2.8310−5.444%$37810xas long as short
Pacifica NATGAS+0.0100%1h2.9942+0.006%$68K$34K10xas long as short
ApeX Omni NATGASUSDT+0.0100%1h2.9900−0.134%$36K$215K50xas long as short
Orderly PERP_NATGAS_USDC_mythos+0.0100%8h3.0000+0.200%$3K$54410xas long as short
Phemex NGUSDT+0.0100%4h2.99400.000%$1.5M$104K10xas long as short
Paradex NG-USD-PERP+0.0220%8h2.9966+0.088%$5K5xas long as short
Gate NG_USDT+0.0260%8h2.9960+0.067%$1.5M$384K100xas long as short
Show all 26 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Extended XNG-USDshort+0.0392%1h2.9916−0.079%$112K$1.2M5x
GMX NATGAS/USD [ETH-USDC]L +0.0416% / S −0.0333%1h2.9945+0.017%$93K25xas long as short
Hotstuff NATGAS-PERP+0.0416%1h2.9955+0.050%$35K20xas long as short
OKX NG-USDT-SWAP+0.0453%8h2.9920−0.067%$895K$1.8M50xas long as short
BloFin NG-USDT+0.0467%8h2.9910−0.100%$84K$190K20xas long as short
Ondo Perps NATGAS-USD.P+0.0496%1h2.9928−0.040%$84K$66K10xas long as short
tradeXYZ xyz:NATGAS+0.0502%1h2.9952+0.040%$5.9M$6.8M10xas long as short
KuCoin NATGASUSDTM+0.0518%4h2.9920−0.067%$1.0M$1.2M20xas long as short
HTX NATGAS-USDT+0.0682%4h2.9952+0.040%$98K$219K75xas long as short
GRVT NATGAS_USDT_Perp+0.0722%4h2.9930−0.032%$13K$255K25xas long as short
Variational Omni NATGAS+0.0811%4h2.9944+0.012%$310K$491Kas long as short
Aster NATGASUSDTlong+0.0826%4h2.9940long leg$265K$105K50x
edgeX NATGASUSDC+0.0867%4h2.9943+0.011%$85K$213K20xas long as short
Binance NATGASUSDT+0.0881%4h2.99400.000%$10.1M$33.1M100xas long as short
Kraken Futures PF_NATGASUSD+0.1128%1h2.9966+0.085%$52K$55K20xas long as short
Bitget NATGASUSDT+0.1194%4h2.9910−0.100%$9.9M$4.4M100xas long as short