Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0353%/8h= −38.6% APRpaid last 24h −0.092%

Price spread now: Pacifica against edgeX+0.044%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 Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.194%−$19 on $10k

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

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

The price spread pays, funding is against you. Pacifica is 0.044% dearer against edgeX than usual: you sell high and buy low (spread +0.044% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 7 days (−0.194% in total) that is about 38 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.194% in total (about -10.1% 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	2.9952	0.0453	pay 0.0226% / 4h	2h 59m	$85K	$212K	20x
Short	Pacifica NATGAS	2.9965	0.0100	get 0.0013% / 1h	59m 23s	$70K	$33K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.044%Rate

Funding earned: −$74.1
Price spread: +0.044% → 0.000%: $4.44
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$86.67
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 32 min ago; Pacifica: 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, 32 min ago	13.33 bp	33.7 bp −$34	41.2 bp −$412	doesn't fit	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

Pacifica: 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 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	2.9980	+0.094%	$658K	$97K	20x	as long as short
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8324	−5.434%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	2.9991	+0.131%	$2K	$2.1M	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9983	+0.104%	$632K	$481K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	2.9987	+0.117%	$112K	$259K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9990	+0.128%	—	$14K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9983	+0.104%	$6.0M	$5.6M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9981	+0.098%	$84K	$28K	10x	as long as short
Paradex NG-USD-PERP	+0.0078%	8h	2.9986	+0.115%	$5K	—	5x	as long as short
HTX NATGAS-USDT	+0.0088%	4h	2.9990	+0.128%	$118K	$221K	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NATGASshort	+0.0100%	1h	2.9965	+0.044%	$70K	$33K	10x
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.173%	$36K	$214K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	+0.161%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9980	+0.094%	$1.5M	$92K	10x	as long as short
Hotstuff NATGAS-PERP	+0.0208%	1h	2.9970	+0.061%	$35K	—	20x	as long as short
Aster NATGASUSDT	+0.0227%	4h	2.9967	+0.050%	$264K	$68K	50x	as long as short
KuCoin NATGASUSDTM	+0.0234%	4h	2.9970	+0.061%	$1.1M	$851K	20x	as long as short
Gate NG_USDT	+0.0266%	8h	3.0010	+0.195%	$1.5M	$198K	100x	as long as short
GRVT NATGAS_USDT_Perp	+0.0282%	4h	2.9946	−0.018%	$20K	$205K	25x	as long as short
Kraken Futures PF_NATGASUSD	+0.0298%	1h	2.9976	+0.080%	$51K	$43K	20x	as long as short
Variational Omni NATGAS	+0.0405%	4h	2.9949	−0.008%	$355K	$429K	—	as long as short
Binance NATGASUSDT	+0.0420%	4h	2.9969	+0.057%	$9.8M	$31.3M	100x	as long as short
edgeX NATGASUSDClong	+0.0453%	4h	2.9952	long leg	$85K	$212K	20x
OKX NG-USDT-SWAP	+0.0495%	8h	2.9960	+0.028%	$813K	$1.9M	50x	as long as short
BloFin NG-USDT	+0.0508%	8h	2.9950	−0.006%	$77K	$197K	20x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0586% / S −0.0602%	1h	2.9945	−0.022%	$88K	—	45x	as long as short
Bitget NATGASUSDT	+0.0864%	4h	2.9960	+0.028%	$9.9M	$3.0M	100x	as long as short