Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0735%/8h= −80.4% APRpaid last 24h −0.053%

Price spread now: Orderly against Aster−0.134%49s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aster Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and Orderly is 0.134% cheaper against Aster than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 49 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	Aster NATGASUSDT	2.9940	0.0835	pay 0.0417% / 4h	2h 08m	$265K	$105K	50x
Short	Orderly PERP_NATGAS_USDC_mythos	2.9900	0.0100	get 0.0100% / 8h	2h 08m	$3K	$544	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.134%Rate

Funding earned: −$154.25
Price spread: −0.134% → 0.000%: −$13.36
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$181.61
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 13 min ago; Orderly: no order-book sample. Net counts fees only.

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, 13 min ago	5.01 bp	47.1 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	2.9962	+0.073%	$2K	$2.6M	20x	as long as short
QFEX NATGAS-USD	+0.0024%	1h	2.9930	−0.033%	$656K	$120K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9951	+0.037%	$618K	$412K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.8310	−5.444%	—	$378	10x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9941	+0.004%	$68K	$34K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.134%	$36K	$215K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythosshort	+0.0100%	8h	2.9900	−0.134%	$3K	$544	10x
Phemex NGUSDT	+0.0100%	4h	2.9940	0.000%	$1.5M	$104K	10x	as long as short
Paradex NG-USD-PERP	+0.0220%	8h	2.9968	+0.095%	$5K	—	5x	as long as short
Gate NG_USDT	+0.0251%	8h	2.9960	+0.067%	$1.5M	$384K	100x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XNG-USD	+0.0376%	1h	2.9919	−0.071%	$112K	$1.2M	5x	as long as short
Hotstuff NATGAS-PERP	+0.0400%	1h	2.9955	+0.050%	$35K	—	20x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0416% / S −0.0333%	1h	2.9945	+0.017%	$93K	—	25x	as long as short
OKX NG-USDT-SWAP	+0.0447%	8h	2.9920	−0.067%	$895K	$1.8M	50x	as long as short
BloFin NG-USDT	+0.0460%	8h	2.9920	−0.067%	$84K	$190K	20x	as long as short
tradeXYZ xyz:NATGAS	+0.0493%	1h	2.9952	+0.040%	$5.9M	$6.8M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0502%	1h	2.9959	+0.063%	$84K	$66K	10x	as long as short
KuCoin NATGASUSDTM	+0.0514%	4h	2.9920	−0.067%	$1.0M	$1.2M	20x	as long as short
HTX NATGAS-USDT	+0.0704%	4h	2.9963	+0.077%	$98K	$219K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0794%	4h	2.9940	−0.001%	$13K	$255K	25x	as long as short
Variational Omni NATGAS	+0.0829%	4h	2.9944	+0.014%	$310K	$491K	—	as long as short
Aster NATGASUSDTlong	+0.0835%	4h	2.9940	long leg	$265K	$105K	50x
edgeX NATGASUSDC	+0.0888%	4h	2.9944	+0.014%	$85K	$212K	20x	as long as short
Binance NATGASUSDT	+0.0893%	4h	2.9940	0.000%	$10.1M	$33.1M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1128%	1h	2.9966	+0.085%	$52K	$55K	20x	as long as short
Bitget NATGASUSDT	+0.1194%	4h	2.9910	−0.100%	$9.9M	$4.4M	100x	as long as short