Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0862%/8h= −94.4% APRpaid last 24h −0.261%

Price spread now: Gate against Bitget+0.134%7-day average +0.095% · you sell dearer than you buy

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$650.647% of the position

Long on Bitget Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.567%−$57 on $10k

Price spread, last 7 days−0.013%−$1 · spread now +0.134%, 7d avg +0.095%

Together, before fees−0.579%−$58 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.038% dearer against Bitget than usual: you sell high and buy low (spread +0.134% now, against its 7-day average of +0.095%): +$4 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.567% in total) that is about 11 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.567% in total (about -29.5% 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	Bitget NATGASUSDT	2.9910	0.1176	pay 0.0588% / 4h	2h 23m	$9.9M	$4.4M	100x
Short	Gate NG_USDT	2.9950	0.0314	get 0.0314% / 8h	2h 23m	$1.5M	$384K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.134%Rate

Funding earned: −$181.02
Price spread: +0.134% → +0.095%: $3.83
Slippage, 4 orders: −$37.72
Fee Bitget: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$241.91
Costs to cover: 0.647%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Gate: live order book, 3 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, 4 min ago	1.67 bp	10.6 bp −$11	23.8 bp −$238	59.7 bp −$5,972	doesn't fit
Sell Gate live order book, 3 min ago	3.34 bp	20.1 bp −$20	63.1 bp −$631	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	2.9941	+0.104%	$2K	$2.6M	20x	as long as short
QFEX NATGAS-USD	+0.0024%	1h	2.9920	+0.033%	$657K	$120K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9945	+0.117%	$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	2.9918	+0.027%	$68K	$34K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.033%	$36K	$214K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	2.9900	−0.033%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9930	+0.067%	$1.5M	$104K	10x	as long as short
Paradex NG-USD-PERP	+0.0205%	8h	2.9954	+0.149%	$5K	—	5x	as long as short
Gate NG_USDTshort	+0.0314%	8h	2.9950	+0.134%	$1.5M	$384K	100x

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XNG-USD	+0.0408%	1h	2.9907	−0.010%	$112K	$1.2M	5x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0415% / S −0.0333%	1h	2.9925	+0.050%	$93K	—	25x	as long as short
Hotstuff NATGAS-PERP	+0.0440%	1h	2.9948	+0.127%	$35K	—	20x	as long as short
OKX NG-USDT-SWAP	+0.0463%	8h	2.9920	+0.033%	$896K	$1.9M	50x	as long as short
Ondo Perps NATGAS-USD.P	+0.0464%	1h	2.9931	+0.070%	$84K	$69K	10x	as long as short
BloFin NG-USDT	+0.0478%	8h	2.9920	+0.033%	$84K	$190K	20x	as long as short
tradeXYZ xyz:NATGAS	+0.0536%	1h	2.9938	+0.094%	$5.9M	$6.8M	10x	as long as short
KuCoin NATGASUSDTM	+0.0548%	4h	2.9920	+0.033%	$1.0M	$1.2M	20x	as long as short
HTX NATGAS-USDT	+0.0591%	4h	2.9945	+0.117%	$98K	$220K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0668%	4h	2.9930	+0.067%	$13K	$255K	25x	as long as short
Aster NATGASUSDT	+0.0770%	4h	2.9940	+0.100%	$265K	$104K	50x	as long as short
Variational Omni NATGAS	+0.0785%	4h	2.9934	+0.080%	$310K	$491K	—	as long as short
edgeX NATGASUSDC	+0.0834%	4h	2.9944	+0.113%	$85K	$212K	20x	as long as short
Binance NATGASUSDT	+0.0843%	4h	2.9925	+0.050%	$10.1M	$33.4M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1129%	1h	2.9942	+0.108%	$52K	$55K	20x	as long as short
Bitget NATGASUSDTlong	+0.1176%	4h	2.9910	long leg	$9.9M	$4.4M	100x