Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0316%/8h= +34.6% APRpaid last 24h +0.128%

Price spread now: Bitget against BloFin−0.166%85s7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs+$24as 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−$490.493% of the position

Long on BloFin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.734%+$73 on $10k

Price spread, last 4 days (all we have)+0.133%+$13 · spread now −0.166%, 7d avg −0.010%

Together, before fees+0.867%+$87 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.156% cheaper against BloFin than usual: you would sell low and buy high (spread −0.166% now, against its 7-day average of −0.010%). If the spread goes back, that is −$16 on $10k: about 39 hours of funding at the current rate (+$9 a day). The two prices were read 85 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	3.0050	0.0530	pay 0.0530% / 8h	7h 31m	$76K	$198K	20x
Short	Bitget NATGASUSDT	3.0000	0.0846	get 0.0423% / 4h	3h 31m	$9.9M	$3.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.166%Rate

Funding earned: $66.43
Price spread: −0.166% → −0.010%: −$15.6
Slippage, 4 orders: −$25.27
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: $1.55
Costs to cover: 0.493%
Break-even: 6.8 days

Slippage from BloFin: live order book, 34 min ago; Bitget: live order book, 2 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, 34 min ago	1.67 bp	15.8 bp −$16	22.4 bp −$224	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	1.67 bp	12.2 bp −$12	23.1 bp −$231	71.2 bp −$7,123	doesn't fit

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
QFEX NATGAS-USD	0.0000%	1h	3.0040	−0.033%	$659K	$96K	20x	as long as short
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8384	−5.544%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0062	+0.040%	$2K	$2.3M	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0023	−0.090%	$631K	$483K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0015	−0.115%	$109K	$253K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0030	−0.067%	—	$14K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	3.0020	−0.100%	$6.0M	$5.2M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0071	+0.070%	$82K	$27K	10x	as long as short
Paradex NG-USD-PERP	+0.0050%	8h	3.0051	+0.003%	$5K	—	5x	as long as short
Hotstuff NATGAS-PERP	+0.0096%	1h	3.0020	−0.100%	$35K	—	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NATGAS	+0.0100%	1h	3.0021	−0.097%	$69K	$30K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.166%	$37K	$214K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.166%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0030	−0.067%	$1.5M	$90K	10x	as long as short
HTX NATGAS-USDT	+0.0128%	4h	3.0050	0.000%	$118K	$221K	75x	as long as short
KuCoin NATGASUSDTM	+0.0148%	4h	3.0020	−0.100%	$1.0M	$841K	20x	as long as short
Aster NATGASUSDT	+0.0175%	4h	3.0030	−0.067%	$264K	$69K	50x	as long as short
GRVT NATGAS_USDT_Perp	+0.0258%	4h	3.0041	−0.031%	$20K	$221K	25x	as long as short
Gate NG_USDT	+0.0279%	8h	3.0050	0.000%	$1.5M	$193K	100x	as long as short
Variational Omni NATGAS	+0.0342%	4h	3.0070	+0.067%	$318K	$391K	—	as long as short
Binance NATGASUSDT	+0.0366%	4h	3.0032	−0.061%	$10.4M	$28.8M	100x	as long as short
edgeX NATGASUSDC	+0.0373%	4h	3.0060	+0.034%	$85K	$212K	20x	as long as short
OKX NG-USDT-SWAP	+0.0504%	8h	3.0010	−0.133%	$804K	$1.9M	50x	as long as short
BloFin NG-USDTlong	+0.0530%	8h	3.0050	long leg	$76K	$198K	20x
GMX NATGAS/USD [ETH-USDC]	L +0.0587% / S −0.0602%	1h	3.0035	−0.050%	$88K	—	45x	as long as short
Kraken Futures PF_NATGASUSD	+0.0684%	1h	3.0025	−0.085%	$53K	$36K	20x	as long as short
Bitget NATGASUSDTshort	+0.0846%	4h	3.0000	−0.166%	$9.9M	$3.0M	100x