Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0147%/8h= −16.1% APRpaid last 24h −0.048%

Price spread now: Gate against GMX+0.017%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Gate

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—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX NATGAS/USD [ETH-USDC]	2.9985	L +0.0406% / S −0.0333%	pay 0.0051% / 1h	52m 53s	$93K	—	45x
Short	Gate NG_USDT	2.9990	0.0259	get 0.0259% / 8h	7h 52m	$1.5M	$254K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against GMX. 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 GMXbpFee GatebpOrdersPrice spread, now +0.017%Rate

Funding earned: −$30.85
Price spread: +0.017% → 0.000%: $1.67
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$56.18
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Gate: live order book, 5 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Gate live order book, 5 min ago	1.67 bp	18.4 bp −$18	65.8 bp −$658	doesn't fit	doesn't fit

GMX: 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
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8339	−5.489%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0002	+0.057%	$2K	$2.6M	20x	as long as short
QFEX NATGAS-USD	+0.0015%	1h	2.9970	−0.050%	$658K	$86K	20x	as long as short
Extended XNG-USD	+0.0032%	1h	2.9966	−0.062%	$110K	$453K	5x	as long as short
Aster NATGASUSDT	+0.0033%	4h	2.9960	−0.083%	$265K	$73K	50x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9970	−0.050%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9967	−0.060%	$5.9M	$6.0M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9993	+0.027%	$84K	$42K	10x	as long as short
Lighter NATGAS	+0.0056%	1h	2.9995	+0.033%	$617K	$412K	10x	as long as short
Paradex NG-USD-PERP	+0.0060%	8h	2.9990	+0.016%	$5K	—	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NATGAS	+0.0061%	4h	2.9971	−0.047%	$311K	$443K	—	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9975	−0.034%	$68K	$33K	10x	as long as short
KuCoin NATGASUSDTM	+0.0100%	4h	2.9970	−0.050%	$1.0M	$1.2M	20x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.283%	$36K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	+0.050%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9980	−0.017%	$1.5M	$95K	10x	as long as short
BloFin NG-USDT	+0.0127%	8h	2.9970	−0.050%	$80K	$189K	20x	as long as short
Hotstuff NATGAS-PERP	+0.0128%	1h	2.9975	−0.033%	$35K	—	20x	as long as short
OKX NG-USDT-SWAP	+0.0142%	8h	2.9970	−0.050%	$857K	$1.7M	50x	as long as short
edgeX NATGASUSDC	+0.0169%	4h	2.9971	−0.047%	$85K	$211K	20x	as long as short
Binance NATGASUSDT	+0.0173%	4h	2.9980	−0.017%	$10.1M	$29.7M	100x	as long as short
Bitget NATGASUSDT	+0.0196%	4h	2.9950	−0.117%	$10.0M	$3.5M	100x	as long as short
HTX NATGAS-USDT	+0.0247%	4h	3.0000	+0.050%	$98K	$211K	75x	as long as short
Gate NG_USDTshort	+0.0259%	8h	2.9990	+0.017%	$1.5M	$254K	100x
GMX NATGAS/USD [ETH-USDC]long	L +0.0406% / S −0.0333%	1h	2.9985	long leg	$93K	—	45x
GRVT NATGAS_USDT_Perp	+0.0484%	4h	2.9969	−0.053%	$25K	$241K	25x	as long as short
Kraken Futures PF_NATGASUSD	+0.1002%	1h	2.9991	+0.020%	$52K	$39K	20x	as long as short