Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0087%/8h= +9.5% APRpaid last 24h +0.041%

Price spread now: edgeX against Gate−0.062%52s7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1001.004% of the position

Long on Gate Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.266%−$27 on $10k

Price spread, last 3 days (all we have)−0.016%−$2 · spread now −0.062%, 7d avg −0.018%

Together, before fees−0.282%+ Points / potential airdropedgeX: Active · farm board−$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.043% cheaper against Gate than usual: you would sell low and buy high (spread −0.062% now, against its 7-day average of −0.018%). If the spread goes back, that is −$4 on $10k: about 40 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.266%, so the current rate has only just turned in your favour. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NG_USDT	2.9970	0.0178	pay 0.0178% / 8h	22m 30s	$1.5M	$285K	100x
Short	edgeX NATGASUSDC	2.9952	0.0265	get 0.0133% / 4h	22m 30s	$85K	$212K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.062%Rate

Funding earned: $18.31
Price spread: −0.062% → −0.018%: −$4.33
Slippage, 4 orders: −$76.37
Fee Gate: 7.5 bp × 2 orders: −$15
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$86.39
Costs to cover: 1.004%
Break-even: 40.0 days

Slippage from Gate: live order book, 5 min ago; edgeX: live order book, 54 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, 5 min ago	1.67 bp	30.9 bp −$31	81.0 bp −$810	doesn't fit	doesn't fit
Sell edgeX live order book, 54 min ago	13.37 bp	21.1 bp −$21	28.3 bp −$283	doesn't fit	doesn't fit

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
Hotstuff NATGAS-PERP	−0.0008%	1h	2.9947	−0.077%	$35K	—	20x	as long as short
SunX NATGAS-USDT	0.0000%	4h	2.9971	+0.003%	$2K	$2.6M	20x	as long as short
HTX NATGAS-USDT	0.0000%	4h	2.9987	+0.057%	$98K	$213K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0008%	4h	2.9943	−0.089%	$13K	$238K	25x	as long as short
QFEX NATGAS-USD	+0.0030%	1h	2.9950	−0.067%	$657K	$86K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9964	−0.020%	$619K	$416K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9950	−0.067%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9949	−0.070%	$5.9M	$6.0M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9974	+0.013%	$84K	$43K	10x	as long as short
Paradex NG-USD-PERP	+0.0068%	8h	2.9952	−0.061%	$5K	—	5x	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	+0.0080%	1h	2.9938	−0.106%	$110K	$453K	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9940	−0.102%	$68K	$33K	10x	as long as short
KuCoin NATGASUSDTM	+0.0100%	4h	2.9950	−0.067%	$1.0M	$1.2M	20x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.234%	$36K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	+0.100%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9960	−0.033%	$1.5M	$97K	10x	as long as short
Aster NATGASUSDT	+0.0108%	4h	2.9960	−0.033%	$265K	$73K	50x	as long as short
BloFin NG-USDT	+0.0148%	8h	2.9940	−0.100%	$80K	$189K	20x	as long as short
OKX NG-USDT-SWAP	+0.0151%	8h	2.9950	−0.067%	$858K	$1.7M	50x	as long as short
Variational Omni NATGAS	+0.0152%	4h	2.9952	−0.062%	$311K	$443K	—	as long as short
Gate NG_USDTlong	+0.0178%	8h	2.9970	long leg	$1.5M	$285K	100x
Binance NATGASUSDT	+0.0228%	4h	2.9955	−0.051%	$10.1M	$30.0M	100x	as long as short
edgeX NATGASUSDCshort	+0.0265%	4h	2.9952	−0.062%	$85K	$212K	20x
Bitget NATGASUSDT	+0.0316%	4h	2.9930	−0.133%	$10.0M	$3.7M	100x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0406% / S −0.0333%	1h	2.9955	−0.050%	$93K	—	45x	as long as short
Kraken Futures PF_NATGASUSD	+0.1217%	1h	2.9970	0.000%	$52K	$39K	20x	as long as short