Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0422%/8h= −46.2% APRpaid last 24h −0.072%

Price spread now: ApeX Omni against Gate−0.200%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$187as in the Funding arb table

Net, price: spread back to 7d avg − costs−$173as in the Price arb table

costs, in and out, $10k−$1551.555% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.316%−$32 on $10k

Price spread, last 4 days (all we have)+0.093%+$9 · spread now −0.200%, 7d avg −0.028%

Together, before fees−0.224%−$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and ApeX Omni is 0.171% cheaper against Gate than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.028%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NG_USDT	3.0060	0.0522	pay 0.0522% / 8h	3h 47m	$1.5M	$192K	100x
Short	ApeX Omni NATGASUSDT	3.0000	0.0100	get 0.0013% / 1h	47m 02s	$37K	$217K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now −0.200%Rate

Funding earned: −$88.62
Price spread: −0.200% → −0.028%: −$17.12
Slippage, 4 orders: −$130.46
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$261.19
Costs to cover: 1.555%
Break-even: never at this rate

Slippage from Gate: live order book, just now; ApeX Omni: live order book, 4 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 Gate live order book, just now	1.66 bp	20.1 bp −$20	56.5 bp −$565	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 4 min ago	16.64 bp	52.0 bp −$52	272.2 bp −$2,722	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	2.8414	−5.476%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0062	+0.007%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0009%	1h	3.0040	−0.067%	$669K	$91K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0002	−0.193%	$626K	$499K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0002	−0.193%	$110K	$407K	5x	as long as short
Hotstuff NATGAS-PERP	+0.0040%	1h	3.0043	−0.057%	$35K	—	20x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0020	−0.133%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0030	−0.100%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0073%	8h	3.0073	+0.044%	$5K	—	5x	as long as short
tradeXYZ xyz:NATGAS	+0.0091%	1h	3.0012	−0.160%	$6.0M	$5.7M	10x	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	3.0011	−0.163%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDTshort	+0.0100%	1h	3.0000	−0.200%	$37K	$217K	50x
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.200%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0030	−0.100%	$1.5M	$93K	10x	as long as short
KuCoin NATGASUSDTM	+0.0326%	4h	3.0020	−0.133%	$1.0M	$1.0M	20x	as long as short
Aster NATGASUSDT	+0.0371%	4h	3.0030	−0.100%	$264K	$74K	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0470% / S −0.0412%	1h	3.0025	−0.116%	$92K	—	45x	as long as short
Gate NG_USDTlong	+0.0522%	8h	3.0060	long leg	$1.5M	$192K	100x
BloFin NG-USDT	+0.0527%	8h	3.0050	−0.033%	$81K	$192K	20x	as long as short
OKX NG-USDT-SWAP	+0.0549%	8h	3.0030	−0.100%	$863K	$1.7M	50x	as long as short
Variational Omni NATGAS	+0.0561%	4h	3.0040	−0.067%	$317K	$449K	—	as long as short
HTX NATGAS-USDT	+0.0581%	4h	3.0055	−0.017%	$107K	$214K	75x	as long as short
edgeX NATGASUSDC	+0.0588%	4h	3.0049	−0.036%	$85K	$213K	20x	as long as short
Binance NATGASUSDT	+0.0596%	4h	3.0030	−0.100%	$10.2M	$28.5M	100x	as long as short
GRVT NATGAS_USDT_Perp	+0.0622%	4h	3.0040	−0.067%	$25K	$218K	25x	as long as short
Kraken Futures PF_NATGASUSD	+0.0856%	1h	3.0035	−0.083%	$54K	$33K	20x	as long as short
Bitget NATGASUSDT	+0.0984%	4h	2.9990	−0.233%	$9.9M	$3.2M	100x	as long as short