Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0435%/8h= −47.6% APRpaid last 24h −0.098%

Price spread now: Hotstuff against edgeX+0.024%7-day average — · you sell dearer than you buy

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

Long on edgeX 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 airdropedgeX: Active · Hotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Hotstuff is 0.024% dearer against edgeX than usual: you sell high and buy low (spread +0.024% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 4 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX NATGASUSDC	3.0000	0.0483	pay 0.0242% / 4h	1h 57m	$85K	$213K	20x
Short	Hotstuff NATGAS-PERP	3.0007	0.0048	get 0.0006% / 1h	57m 20s	$35K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$91.35
Price spread: +0.024% → 0.000%: $2.38
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$102.97
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 5 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 edgeX live order book, 5 min ago	13.34 bp	33.4 bp −$33	42.3 bp −$423	doesn't fit	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
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8376	−5.413%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0021	+0.070%	$2K	$2.5M	20x	as long as short
QFEX NATGAS-USD	+0.0019%	1h	3.0000	0.000%	$658K	$86K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0011	+0.037%	$618K	$445K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	2.9988	−0.040%	$110K	$446K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0010	+0.034%	—	$378	10x	as long as short
Hotstuff NATGAS-PERPshort	+0.0048%	1h	3.0007	+0.024%	$35K	—	20x
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0020	+0.067%	$82K	$27K	10x	as long as short
Paradex NG-USD-PERP	+0.0065%	8h	3.0010	+0.035%	$5K	—	5x	as long as short
tradeXYZ xyz:NATGAS	+0.0074%	1h	3.0002	+0.007%	$5.9M	$5.9M	10x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NATGAS	+0.0100%	1h	3.0001	+0.004%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	0.000%	$37K	$218K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	0.000%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0020	+0.067%	$1.5M	$95K	10x	as long as short
HTX NATGAS-USDT	+0.0227%	4h	3.0026	+0.087%	$98K	$211K	75x	as long as short
KuCoin NATGASUSDTM	+0.0252%	4h	3.0000	0.000%	$1.0M	$1.1M	20x	as long as short
Aster NATGASUSDT	+0.0272%	4h	2.9997	−0.008%	$265K	$73K	50x	as long as short
OKX NG-USDT-SWAP	+0.0372%	8h	3.0010	+0.034%	$863K	$1.7M	50x	as long as short
GRVT NATGAS_USDT_Perp	+0.0382%	4h	3.0006	+0.022%	$12K	$214K	25x	as long as short
Gate NG_USDT	+0.0410%	8h	3.0030	+0.100%	$1.5M	$207K	100x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0426% / S −0.0363%	1h	3.0005	+0.017%	$92K	—	45x	as long as short
Variational Omni NATGAS	+0.0432%	4h	3.0000	0.000%	$311K	$444K	—	as long as short
edgeX NATGASUSDClong	+0.0483%	4h	3.0000	long leg	$85K	$213K	20x
Binance NATGASUSDT	+0.0487%	4h	3.0007	+0.023%	$10.2M	$29.0M	100x	as long as short
Bitget NATGASUSDT	+0.0786%	4h	2.9980	−0.066%	$9.9M	$3.4M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1109%	1h	3.0023	+0.077%	$53K	$38K	20x	as long as short