Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0734%/8h= −80.3% APRpaid last 24h −0.210%

Price spread now: OKX against Bitget+0.033%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$440.442% of the position

Long on Bitget Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.601%−$60 on $10k

Price spread, last 7 days−0.061%−$6 · spread now +0.033%, 7d avg +0.008%

Together, before fees−0.662%−$66 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.025% dearer against Bitget than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of +0.008%): +$3 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 3 hours. At the pace of the last 7 days (−0.601% in total) that is about 7 hours.

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	OKX NG-USDT-SWAP	2.9920	0.0450	get 0.0450% / 8h	2h 00m	$895K	$1.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$154.04
Price spread: +0.033% → +0.008%: $2.5
Slippage, 4 orders: −$22.17
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$195.71
Costs to cover: 0.442%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; OKX: live order book, 1 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 OKX live order book, 1 min ago	1.67 bp	10.6 bp −$11	19.5 bp −$195	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 NATGASUSDT	+0.0100%	1h	2.9900	−0.033%	$36K	$215K	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	2.9950	+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-SWAPshort	+0.0450%	8h	2.9920	+0.033%	$895K	$1.8M	50x
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