Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0850%/8h= −93.1% APRpaid last 24h −0.226%

Price spread now: Hotstuff against Bitget+0.067%7-day average — · you sell dearer than you buy

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

Long on Bitget Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Hotstuff is 0.067% dearer against Bitget than usual: you sell high and buy low (spread +0.067% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 6 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NATGASUSDT	2.9970	0.0898	pay 0.0449% / 4h	1h 37m	$9.9M	$3.4M	100x
Short	Hotstuff NATGAS-PERP	2.9990	0.0048	get 0.0006% / 1h	37m 13s	$35K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now +0.067%Rate

Funding earned: −$178.5
Price spread: +0.067% → 0.000%: $6.67
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$188.83
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 1 min ago; Hotstuff: 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 Bitget live order book, 1 min ago	1.67 bp	8.6 bp −$9	20.3 bp −$203	71.0 bp −$7,105	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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	3.0011	+0.137%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0019%	1h	2.9990	+0.067%	$658K	$85K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9997	+0.090%	$618K	$447K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	2.9975	+0.017%	$110K	$442K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9990	+0.067%	—	$378	10x	as long as short
Hotstuff NATGAS-PERPshort	+0.0048%	1h	2.9990	+0.067%	$35K	—	20x
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9967	−0.010%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0061%	8h	3.0001	+0.102%	$5K	—	5x	as long as short
tradeXYZ xyz:NATGAS	+0.0094%	1h	2.9982	+0.040%	$5.9M	$5.9M	10x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9966	−0.013%	$68K	$33K	10x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	+0.100%	$37K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	+0.100%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9990	+0.067%	$1.5M	$95K	10x	as long as short
HTX NATGAS-USDT	+0.0224%	4h	2.9997	+0.090%	$101K	$213K	75x	as long as short
KuCoin NATGASUSDTM	+0.0316%	4h	2.9990	+0.067%	$1.0M	$1.1M	20x	as long as short
Aster NATGASUSDT	+0.0324%	4h	2.9985	+0.050%	$265K	$73K	50x	as long as short
GRVT NATGAS_USDT_Perp	+0.0372%	4h	2.9990	+0.065%	$12K	$214K	25x	as long as short
BloFin NG-USDT	+0.0392%	8h	2.9980	+0.033%	$81K	$188K	20x	as long as short
OKX NG-USDT-SWAP	+0.0411%	8h	2.9990	+0.067%	$853K	$1.7M	50x	as long as short
Gate NG_USDT	+0.0412%	8h	3.0020	+0.167%	$1.5M	$209K	100x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0429% / S −0.0367%	1h	2.9995	+0.083%	$92K	—	45x	as long as short
Variational Omni NATGAS	+0.0495%	4h	3.0009	+0.131%	$311K	$444K	—	as long as short
Binance NATGASUSDT	+0.0544%	4h	2.9990	+0.067%	$10.2M	$28.9M	100x	as long as short
edgeX NATGASUSDC	+0.0551%	4h	3.0009	+0.131%	$85K	$212K	20x	as long as short
Bitget NATGASUSDTlong	+0.0898%	4h	2.9970	long leg	$9.9M	$3.4M	100x
Kraken Futures PF_NATGASUSD	+0.1110%	1h	3.0007	+0.123%	$53K	$36K	20x	as long as short