Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0571%/8h= −62.5% APRpaid last 24h −0.102%

Price spread now: tradeXYZ against Binance0.000%7-day average −0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$350.346% of the position

Long on Binance Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.230%−$23 on $10k

Price spread, last 7 days−0.003%$0 · spread now 0.000%, 7d avg −0.054%

Together, before fees−0.233%+ Points / potential airdroptradeXYZ: Active · farm board−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. tradeXYZ is 0.054% dearer against Binance than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.054%): +$5 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.230% in total) that is about 40 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.230% in total (about -12.0% 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	Binance NATGASUSDT	3.0050	0.0665	pay 0.0333% / 4h	3h 03m	$10.3M	$28.2M	100x
Short	tradeXYZ xyz:NATGAS	3.0050	0.0094	get 0.0012% / 1h	3m 22s	$6.0M	$5.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Binance. 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 BinancebpFee tradeXYZbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$119.82
Price spread: 0.000% → −0.054%: $5.44
Slippage, 4 orders: −$6.56
Fee Binance: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$148.95
Costs to cover: 0.346%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; tradeXYZ: live order book, 4 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 Binance live order book, 8 min ago	1.66 bp	6.7 bp −$7	11.3 bp −$113	37.9 bp −$3,786	133.2 bp −$66.6K
Sell tradeXYZ live order book, 4 min ago	0.67 bp	10.9 bp −$11	doesn't fit	doesn't fit	doesn't fit

NATGAS on 27 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
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8441	−5.354%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0072	+0.073%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0009%	1h	3.0040	−0.033%	$659K	$96K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0045	−0.017%	$629K	$503K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0050	0.000%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0080	+0.100%	$83K	$26K	10x	as long as short
Hotstuff NATGAS-PERP	+0.0072%	1h	3.0051	+0.003%	$35K	—	20x	as long as short
tradeXYZ xyz:NATGASshort	+0.0094%	1h	3.0050	0.000%	$6.0M	$5.6M	10x
Paradex NG-USD-PERP	+0.0095%	8h	3.0066	+0.053%	$5K	—	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0040	−0.033%	$68K	$33K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.166%	$37K	$218K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.166%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0050	0.000%	$1.5M	$93K	10x	as long as short
Extended XNG-USD	+0.0200%	1h	3.0038	−0.039%	$110K	$364K	5x	as long as short
KuCoin NATGASUSDTM	+0.0364%	4h	3.0040	−0.033%	$1.0M	$982K	20x	as long as short
Aster NATGASUSDT	+0.0431%	4h	3.0060	+0.033%	$264K	$74K	50x	as long as short
GRVT NATGAS_USDT_Perp	+0.0438%	4h	3.0041	−0.031%	$13K	$223K	25x	as long as short
HTX NATGAS-USDT	+0.0495%	4h	3.0072	+0.073%	$107K	$212K	75x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0498% / S −0.0442%	1h	3.0055	+0.017%	$92K	—	45x	as long as short
Gate NG_USDT	+0.0557%	8h	3.0090	+0.133%	$1.5M	$193K	100x	as long as short
BloFin NG-USDT	+0.0603%	8h	3.0060	+0.033%	$81K	$195K	20x	as long as short
OKX NG-USDT-SWAP	+0.0612%	8h	3.0050	0.000%	$867K	$1.7M	50x	as long as short
Variational Omni NATGAS	+0.0642%	4h	3.0060	+0.032%	$317K	$449K	—	as long as short
Binance NATGASUSDTlong	+0.0665%	4h	3.0050	long leg	$10.3M	$28.2M	100x
edgeX NATGASUSDC	+0.0668%	4h	3.0052	+0.007%	$85K	$213K	20x	as long as short
Kraken Futures PF_NATGASUSD	+0.0855%	1h	3.0068	+0.060%	$56K	$35K	20x	as long as short
Bitget NATGASUSDT	+0.1036%	4h	3.0030	−0.067%	$9.9M	$3.2M	100x	as long as short