Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0224%/8h= +24.5% APRpaid last 24h −0.014%

Price spread now: Binance against BloFin+0.020%91s7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as 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−$350.347% of the position

Long on BloFin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.253%−$25 on $10k

Price spread, last 2 days (all we have)−0.040%−$4 · spread now +0.020%, 7d avg +0.046%

Together, before fees−0.293%−$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.027% cheaper against BloFin than usual: you would sell low and buy high (spread +0.020% now, against its 7-day average of +0.046%). If the spread goes back, that is −$3 on $10k: about 10 hours of funding at the current rate (+$7 a day). Mind the row above: over the last 7 days funding on this pair cost −0.253%, so the current rate has only just turned in your favour. The two prices were read 91 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	BloFin NG-USDT	2.9930	0.0308	pay 0.0308% / 8h	1h 03m	$80K	$189K	20x
Short	Binance NATGASUSDT	2.9936	0.0532	get 0.0266% / 4h	1h 03m	$10.1M	$30.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against BloFin. 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 BloFinbpFee BinancebpOrdersPrice spread, now +0.020%Rate

Funding earned: $47.07
Price spread: +0.020% → +0.046%: −$2.67
Slippage, 4 orders: −$12.7
Fee BloFin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: $9.71
Costs to cover: 0.347%
Break-even: 5.6 days

Slippage from BloFin: live order book, 6 min ago; Binance: live order book, 8 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 BloFin live order book, 6 min ago	3.34 bp	9.3 bp −$9	15.8 bp −$158	64.2 bp −$6,424	doesn't fit
Sell Binance live order book, 8 min ago	1.67 bp	6.7 bp −$7	10.4 bp −$104	46.4 bp −$4,641	141.9 bp −$70.9K

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	2.8281	−5.510%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	2.9952	+0.074%	$2K	$2.6M	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9936	+0.020%	$619K	$411K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9930	0.000%	—	$378	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9950	+0.067%	$84K	$45K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0055%	1h	2.9920	−0.033%	$5.9M	$6.0M	10x	as long as short
Paradex NG-USD-PERP	+0.0097%	8h	2.9930	0.000%	$5K	—	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9917	−0.044%	$68K	$34K	10x	as long as short
KuCoin NATGASUSDTM	+0.0100%	4h	2.9920	−0.033%	$1.0M	$1.2M	20x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.100%	$36K	$216K	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	2.9900	−0.100%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9930	0.000%	$1.5M	$99K	10x	as long as short
HTX NATGAS-USDT	+0.0139%	4h	2.9954	+0.080%	$98K	$215K	75x	as long as short
QFEX NATGAS-USD	+0.0160%	1h	2.9930	0.000%	$657K	$86K	20x	as long as short
Hotstuff NATGAS-PERP	+0.0184%	1h	2.9928	−0.007%	$35K	—	20x	as long as short
Gate NG_USDT	+0.0219%	8h	2.9960	+0.100%	$1.5M	$307K	100x	as long as short
OKX NG-USDT-SWAP	+0.0278%	8h	2.9930	0.000%	$856K	$1.7M	50x	as long as short
GRVT NATGAS_USDT_Perp	+0.0286%	4h	2.9938	+0.026%	$13K	$246K	25x	as long as short
BloFin NG-USDTlong	+0.0308%	8h	2.9930	long leg	$80K	$189K	20x
Extended XNG-USD	+0.0312%	1h	2.9916	−0.048%	$110K	$471K	5x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0406% / S −0.0333%	1h	2.9935	+0.017%	$93K	—	45x	as long as short
Aster NATGASUSDT	+0.0431%	4h	2.9941	+0.038%	$265K	$105K	50x	as long as short
Variational Omni NATGAS	+0.0478%	4h	2.9931	+0.003%	$311K	$444K	—	as long as short
Kraken Futures PF_NATGASUSD	+0.0515%	1h	2.9949	+0.064%	$52K	$40K	20x	as long as short
Binance NATGASUSDTshort	+0.0532%	4h	2.9936	+0.020%	$10.1M	$30.4M	100x
edgeX NATGASUSDC	+0.0579%	4h	2.9931	+0.003%	$85K	$212K	20x	as long as short
Bitget NATGASUSDT	+0.0688%	4h	2.9900	−0.100%	$10.0M	$3.9M	100x	as long as short