Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0819%/8h= −89.7% APRpaid last 24h −0.106%

Price spread now: Ondo Perps against edgeX+0.059%54s7-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 Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.142%−$14 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · Ondo Perps: Active · farm boardneeds both histories

The price spread pays, funding is against you. Ondo Perps is 0.059% dearer against edgeX than usual: you sell high and buy low (spread +0.059% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.142% in total) that is about 2.9 days. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.142% in total (about -7.4% 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	2.9917	0.0870	pay 0.0435% / 4h	1h 44m	$85K	$213K	20x
Short	Ondo Perps NATGAS-USD.P	2.9935	0.0050	get 0.0006% / 1h	44m 42s	$84K	$50K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against edgeX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$172.08
Price spread: +0.059% → 0.000%: $5.88
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$180.2
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 37 min ago; Ondo Perps: 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, 37 min ago	13.37 bp	30.8 bp −$31	39.0 bp −$390	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
SunX NATGAS-USDT	0.0000%	4h	2.9931	+0.045%	$2K	$2.6M	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9911	−0.021%	$618K	$411K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9920	+0.009%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9903	−0.048%	$5.9M	$6.0M	10x	as long as short
Ondo Perps NATGAS-USD.Pshort	+0.0050%	1h	2.9935	+0.059%	$84K	$50K	10x
Hotstuff NATGAS-PERP	+0.0088%	1h	2.9910	−0.025%	$35K	—	20x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9902	−0.053%	$68K	$34K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.058%	$36K	$216K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	2.9900	−0.058%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9910	−0.025%	$1.5M	$102K	10x	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	+0.0136%	1h	2.9905	−0.042%	$113K	$1.2M	5x	as long as short
QFEX NATGAS-USD	+0.0160%	1h	2.9910	−0.025%	$656K	$86K	20x	as long as short
Paradex NG-USD-PERP	+0.0172%	8h	2.9912	−0.017%	$5K	—	5x	as long as short
Gate NG_USDT	+0.0224%	8h	2.9940	+0.075%	$1.5M	$306K	100x	as long as short
BloFin NG-USDT	+0.0392%	8h	2.9880	−0.125%	$84K	$189K	20x	as long as short
KuCoin NATGASUSDTM	+0.0394%	4h	2.9900	−0.058%	$1.0M	$1.2M	20x	as long as short
OKX NG-USDT-SWAP	+0.0397%	8h	2.9900	−0.058%	$897K	$1.7M	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0415% / S −0.0333%	1h	2.9915	−0.008%	$93K	—	25x	as long as short
Kraken Futures PF_NATGASUSD	+0.0515%	1h	2.9934	+0.057%	$52K	$49K	20x	as long as short
HTX NATGAS-USDT	+0.0534%	4h	2.9929	+0.039%	$98K	$217K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0692%	4h	2.9915	−0.007%	$13K	$246K	25x	as long as short
Aster NATGASUSDT	+0.0756%	4h	2.9929	+0.039%	$265K	$105K	50x	as long as short
Variational Omni NATGAS	+0.0791%	4h	2.9912	−0.018%	$311K	$446K	—	as long as short
Binance NATGASUSDT	+0.0812%	4h	2.9916	−0.006%	$10.1M	$31.9M	100x	as long as short
edgeX NATGASUSDClong	+0.0870%	4h	2.9917	long leg	$85K	$213K	20x
Bitget NATGASUSDT	+0.1042%	4h	2.9890	−0.092%	$10.0M	$4.0M	100x	as long as short