Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0522%/8h= −57.1% APRpaid last 24h −0.087%

Price spread now: ApeX Omni against edgeX+0.246%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$223as in the Funding arb table

Net, price: spread back to 7d avg − costs−$184as in the Price arb table

costs, in and out, $10k−$2092.087% of the position

Long on edgeX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.148%−$15 on $10k

Price spread, last 4 days (all we have)−0.288%−$29 · spread now +0.246%, 7d avg −0.004%

Together, before fees−0.435%+ Points / potential airdropedgeX: Active · farm board−$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.250% dearer against edgeX than usual: you sell high and buy low (spread +0.246% now, against its 7-day average of −0.004%): +$25 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 38 hours. At the pace of the last 7 days (−0.148% in total) that is about 12 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.148% in total (about -7.7% 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	edgeX NATGASUSDC	3.0026	0.0622	pay 0.0311% / 4h	37m 56s	$85K	$211K	20x
Short	ApeX Omni NATGASUSDT	3.0100	0.0100	get 0.0013% / 1h	37m 56s	$37K	$216K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against edgeX. 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 edgeXbpFee ApeX OmnibpOrdersPrice spread, now +0.246%Rate

Funding earned: −$109.53
Price spread: +0.246% → −0.004%: $25.01
Slippage, 4 orders: −$189.7
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$293.22
Costs to cover: 2.087%
Break-even: never at this rate

Slippage from edgeX: live order book, 19 min ago; ApeX Omni: live order book, 18 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 edgeX live order book, 19 min ago	13.34 bp	33.7 bp −$34	43.4 bp −$434	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 18 min ago	33.33 bp	79.6 bp −$80	274.7 bp −$2,747	doesn't fit	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
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8456	−5.229%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0082	+0.186%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0022%	1h	3.0050	+0.079%	$659K	$85K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0049	+0.076%	$619K	$494K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0038	+0.040%	$110K	$435K	5x	as long as short
Hotstuff NATGAS-PERP	+0.0032%	1h	3.0059	+0.109%	$35K	—	20x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0050	+0.079%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0080	+0.179%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0056%	8h	3.0066	+0.132%	$5K	—	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0046	+0.066%	$68K	$33K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni NATGASUSDTshort	+0.0100%	1h	3.0100	+0.246%	$37K	$216K	50x
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.087%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0040	+0.046%	$1.5M	$94K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0103%	1h	3.0050	+0.079%	$6.0M	$5.9M	10x	as long as short
HTX NATGAS-USDT	+0.0213%	4h	3.0080	+0.179%	$105K	$212K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0344%	4h	3.0050	+0.079%	$25K	$227K	25x	as long as short
KuCoin NATGASUSDTM	+0.0364%	4h	3.0040	+0.046%	$1.1M	$1.0M	20x	as long as short
Aster NATGASUSDT	+0.0405%	4h	3.0043	+0.057%	$266K	$73K	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0448% / S −0.0387%	1h	3.0065	+0.129%	$92K	—	45x	as long as short
Gate NG_USDT	+0.0456%	8h	3.0080	+0.179%	$1.5M	$192K	100x	as long as short
BloFin NG-USDT	+0.0463%	8h	3.0060	+0.113%	$81K	$189K	20x	as long as short
OKX NG-USDT-SWAP	+0.0479%	8h	3.0040	+0.046%	$855K	$1.7M	50x	as long as short
Variational Omni NATGAS	+0.0594%	4h	3.0059	+0.111%	$312K	$444K	—	as long as short
Binance NATGASUSDT	+0.0620%	4h	3.0050	+0.079%	$10.2M	$28.7M	100x	as long as short
edgeX NATGASUSDClong	+0.0622%	4h	3.0026	long leg	$85K	$211K	20x
Kraken Futures PF_NATGASUSD	+0.0993%	1h	3.0071	+0.150%	$54K	$34K	20x	as long as short
Bitget NATGASUSDT	+0.0998%	4h	3.0030	+0.013%	$9.9M	$3.3M	100x	as long as short