Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.1084%/8h= −118.7% APRpaid last 24h −0.318%

Price spread now: ApeX Omni against Bitget−0.033%63s7-day average +0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$240as 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−$1411.411% of the position

Long on Bitget Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.989%−$99 on $10k

Price spread, last 3 days (all we have)+0.012%+$1 · spread now −0.033%, 7d avg +0.044%

Together, before fees−0.977%−$98 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$33 a day on $10k at the current rate, and ApeX Omni is 0.077% cheaper against Bitget than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.044%). Swap the legs. 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	Bitget NATGASUSDT	2.9910	0.1184	pay 0.0592% / 4h	2h 00m	$9.9M	$4.3M	100x
Short	ApeX Omni NATGASUSDT	2.9900	0.0100	get 0.0013% / 1h	0m 35s	$36K	$215K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bitget. 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 BitgetbpFee ApeX OmnibpOrdersPrice spread, now −0.033%Rate

Funding earned: −$227.64
Price spread: −0.033% → +0.044%: −$7.74
Slippage, 4 orders: −$119.14
Fee Bitget: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$376.52
Costs to cover: 1.411%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; ApeX Omni: live order book, 20 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 Bitget live order book, 3 min ago	1.67 bp	11.7 bp −$12	25.4 bp −$254	58.6 bp −$5,865	doesn't fit
Sell ApeX Omni live order book, 20 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	+0.171%	$2K	$2.6M	20x	as long as short
QFEX NATGAS-USD	+0.0024%	1h	2.9930	+0.067%	$656K	$120K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9950	+0.134%	$618K	$412K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.8310	−5.349%	—	$378	10x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9942	+0.107%	$68K	$34K	10x	as long as short
ApeX Omni NATGASUSDTshort	+0.0100%	1h	2.9900	−0.033%	$36K	$215K	50x
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	2.9900	−0.033%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9950	+0.134%	$1.5M	$104K	10x	as long as short
Paradex NG-USD-PERP	+0.0224%	8h	2.9971	+0.204%	$5K	—	5x	as long as short
Gate NG_USDT	+0.0230%	8h	2.9960	+0.167%	$1.5M	$385K	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	+0.0336%	1h	2.9924	+0.046%	$113K	$1.2M	5x	as long as short
Hotstuff NATGAS-PERP	+0.0384%	1h	2.9955	+0.150%	$35K	—	20x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0416% / S −0.0333%	1h	2.9945	+0.117%	$93K	—	25x	as long as short
BloFin NG-USDT	+0.0448%	8h	2.9910	0.000%	$84K	$190K	20x	as long as short
OKX NG-USDT-SWAP	+0.0450%	8h	2.9920	+0.033%	$895K	$1.8M	50x	as long as short
tradeXYZ xyz:NATGAS	+0.0459%	1h	2.9952	+0.140%	$5.9M	$6.8M	10x	as long as short
KuCoin NATGASUSDTM	+0.0490%	4h	2.9910	0.000%	$1.0M	$1.3M	20x	as long as short
Ondo Perps NATGAS-USD.P	+0.0510%	1h	2.9929	+0.064%	$84K	$66K	10x	as long as short
HTX NATGAS-USDT	+0.0776%	4h	2.9965	+0.184%	$98K	$219K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0852%	4h	2.9940	+0.100%	$13K	$255K	25x	as long as short
Variational Omni NATGAS	+0.0853%	4h	2.9944	+0.113%	$310K	$491K	—	as long as short
Aster NATGASUSDT	+0.0863%	4h	2.9940	+0.100%	$265K	$105K	50x	as long as short
Binance NATGASUSDT	+0.0928%	4h	2.9940	+0.100%	$10.1M	$33.1M	100x	as long as short
edgeX NATGASUSDC	+0.0930%	4h	2.9944	+0.113%	$85K	$213K	20x	as long as short
Kraken Futures PF_NATGASUSD	+0.1128%	1h	2.9967	+0.189%	$52K	$55K	20x	as long as short
Bitget NATGASUSDTlong	+0.1184%	4h	2.9910	long leg	$9.9M	$4.3M	100x