Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0307%/8h= −33.6% APRpaid last 24h −0.071%

Price spread now: Hotstuff against Gate−0.140%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Hotstuff is 0.140% cheaper against Gate than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NG_USDT	2.9950	0.0235	pay 0.0235% / 8h	1h 29m	$1.5M	$306K	100x
Short	Hotstuff NATGAS-PERP	2.9908	−0.0072	pay 0.0009% / 1h	29m 43s	$35K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.140%Rate

Funding earned: −$64.47
Price spread: −0.140% → 0.000%: −$14.02
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$98.49
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 3 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 Gate live order book, 3 min ago	3.34 bp	25.0 bp −$25	77.4 bp −$774	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
Hotstuff NATGAS-PERPshort	−0.0072%	1h	2.9908	−0.140%	$35K	—	20x
SunX NATGAS-USDT	0.0000%	4h	2.9941	−0.030%	$2K	$2.6M	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9907	−0.144%	$618K	$411K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9920	−0.100%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9907	−0.144%	$5.9M	$6.0M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9959	+0.030%	$84K	$50K	10x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9898	−0.174%	$68K	$34K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.167%	$36K	$216K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	2.9900	−0.167%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9920	−0.100%	$1.5M	$101K	10x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex NG-USD-PERP	+0.0136%	8h	2.9917	−0.111%	$5K	—	5x	as long as short
Extended XNG-USD	+0.0144%	1h	2.9897	−0.177%	$110K	$1.2M	5x	as long as short
QFEX NATGAS-USD	+0.0160%	1h	2.9910	−0.134%	$656K	$86K	20x	as long as short
Gate NG_USDTlong	+0.0235%	8h	2.9950	long leg	$1.5M	$306K	100x
KuCoin NATGASUSDTM	+0.0276%	4h	2.9900	−0.167%	$1.0M	$1.2M	20x	as long as short
HTX NATGAS-USDT	+0.0318%	4h	2.9946	−0.013%	$98K	$216K	75x	as long as short
BloFin NG-USDT	+0.0347%	8h	2.9930	−0.067%	$84K	$189K	20x	as long as short
OKX NG-USDT-SWAP	+0.0349%	8h	2.9920	−0.100%	$855K	$1.7M	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0406% / S −0.0333%	1h	2.9925	−0.083%	$93K	—	25x	as long as short
GRVT NATGAS_USDT_Perp	+0.0504%	4h	2.9920	−0.100%	$13K	$246K	25x	as long as short
Kraken Futures PF_NATGASUSD	+0.0515%	1h	2.9939	−0.035%	$52K	$44K	20x	as long as short
Aster NATGASUSDT	+0.0612%	4h	2.9940	−0.033%	$265K	$105K	50x	as long as short
Variational Omni NATGAS	+0.0644%	4h	2.9931	−0.063%	$311K	$446K	—	as long as short
Binance NATGASUSDT	+0.0689%	4h	2.9920	−0.100%	$10.1M	$31.3M	100x	as long as short
edgeX NATGASUSDC	+0.0726%	4h	2.9933	−0.056%	$85K	$212K	20x	as long as short
Bitget NATGASUSDT	+0.0918%	4h	2.9890	−0.200%	$10.0M	$4.0M	100x	as long as short