Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0524%/8h= −57.4% APRpaid last 24h −0.102%

Price spread now: SunX against Gate−0.027%7-day average +0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$145as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$920.920% of the position

Long on Gate Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.526%−$53 on $10k

Price spread, last 4 days (all we have)+0.033%+$3 · spread now −0.027%, 7d avg +0.038%

Together, before fees−0.493%−$49 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and SunX is 0.065% cheaper against Gate than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.038%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NG_USDT	3.0090	0.0524	pay 0.0524% / 8h	3h 48m	$1.5M	$191K	100x
Short	SunX NATGAS-USDT	3.0082	0	get 0.0000% / 4h	3h 48m	$2K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$110.04
Price spread: −0.027% → +0.038%: −$6.51
Slippage, 4 orders: −$68.99
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SunX: 4 bp × 2 orders: −$8
Net: −$208.53
Costs to cover: 0.920%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; SunX: live order book, 9 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, 4 min ago	1.66 bp	22.9 bp −$23	65.4 bp −$654	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	15.14 bp	28.1 bp −$28	doesn't fit	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	2.8456	−5.430%	—	—	—	as long as short
SunX NATGAS-USDTshort	0.0000%	4h	3.0082	−0.027%	$2K	$2.4M	20x
QFEX NATGAS-USD	+0.0009%	1h	3.0050	−0.133%	$669K	$91K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0042	−0.160%	$621K	$494K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0028	−0.206%	$110K	$404K	5x	as long as short
Hotstuff NATGAS-PERP	+0.0032%	1h	3.0041	−0.163%	$35K	—	20x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0030	−0.199%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0030	−0.199%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0067%	8h	3.0080	−0.034%	$5K	—	5x	as long as short
tradeXYZ xyz:NATGAS	+0.0089%	1h	3.0043	−0.156%	$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	3.0031	−0.196%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.299%	$37K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.299%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0050	−0.133%	$1.5M	$93K	10x	as long as short
KuCoin NATGASUSDTM	+0.0330%	4h	3.0050	−0.133%	$1.0M	$1.0M	20x	as long as short
Aster NATGASUSDT	+0.0368%	4h	3.0078	−0.038%	$265K	$73K	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0470% / S −0.0411%	1h	3.0065	−0.083%	$92K	—	45x	as long as short
Gate NG_USDTlong	+0.0524%	8h	3.0090	long leg	$1.5M	$191K	100x
GRVT NATGAS_USDT_Perp	+0.0546%	4h	3.0030	−0.199%	$25K	$218K	25x	as long as short
HTX NATGAS-USDT	+0.0547%	4h	3.0070	−0.066%	$107K	$214K	75x	as long as short
OKX NG-USDT-SWAP	+0.0547%	8h	3.0050	−0.133%	$861K	$1.7M	50x	as long as short
Variational Omni NATGAS	+0.0561%	4h	3.0040	−0.167%	$317K	$449K	—	as long as short
BloFin NG-USDT	+0.0575%	8h	3.0020	−0.233%	$81K	$191K	20x	as long as short
edgeX NATGASUSDC	+0.0587%	4h	3.0040	−0.167%	$85K	$212K	20x	as long as short
Binance NATGASUSDT	+0.0591%	4h	3.0060	−0.100%	$10.2M	$28.4M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0855%	1h	3.0071	−0.063%	$54K	$33K	20x	as long as short
Bitget NATGASUSDT	+0.0982%	4h	3.0020	−0.233%	$9.9M	$3.2M	100x	as long as short