Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h +0.329%

Price spread now: Bitget against Hotstuff−0.053%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Bitget

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

Funding pays, the price is against you. Bitget is 0.053% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.053% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 2.5 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff NATGAS-PERP	2.9966	0.0112	pay 0.0014% / 1h	56m 13s	$35K	—	20x
Short	Bitget NATGASUSDT	2.9950	0.0184	get 0.0092% / 4h	3h 56m	$10.0M	$3.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Hotstuff. 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 HotstuffbpFee BitgetbpOrdersPrice spread, now −0.053%Rate

Funding earned: $15.12
Price spread: −0.053% → 0.000%: −$5.34
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$7.22
Costs to cover: 0.170%
Break-even: 10.3 days

Slippage unknown: Hotstuff: no order-book sample; Bitget: live order book, 2 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Bitget live order book, 2 min ago	1.67 bp	10.5 bp −$11	25.0 bp −$250	102.5 bp −$10.2K	doesn't fit

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 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
Gate NG_USDT	0.0000%	8h	3.0000	+0.113%	$1.5M	$254K	100x	as long as short
GRVT NATGAS_USDT_Perp	0.0000%	4h	2.9953	−0.044%	$13K	$238K	25x	as long as short
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8339	−5.429%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0001	+0.117%	$2K	$2.6M	20x	as long as short
QFEX NATGAS-USD	+0.0015%	1h	2.9970	+0.013%	$658K	$86K	20x	as long as short
Extended XNG-USD	+0.0032%	1h	2.9966	+0.001%	$110K	$453K	5x	as long as short
Aster NATGASUSDT	+0.0032%	4h	2.9960	−0.020%	$265K	$73K	50x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9970	+0.013%	—	$378	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9950	−0.053%	$84K	$42K	10x	as long as short
Paradex NG-USD-PERP	+0.0060%	8h	2.9985	+0.063%	$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	+0.017%	$311K	$443K	—	as long as short
tradeXYZ xyz:NATGAS	+0.0071%	1h	2.9971	+0.017%	$5.9M	$6.0M	10x	as long as short
Lighter NATGAS	+0.0072%	1h	2.9997	+0.103%	$617K	$412K	10x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9967	+0.004%	$68K	$33K	10x	as long as short
KuCoin NATGASUSDTM	+0.0100%	4h	2.9960	−0.020%	$1.0M	$1.2M	20x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.220%	$36K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	+0.113%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9990	+0.080%	$1.5M	$95K	10x	as long as short
Hotstuff NATGAS-PERPlong	+0.0112%	1h	2.9966	long leg	$35K	—	20x
OKX NG-USDT-SWAP	+0.0133%	8h	2.9970	+0.013%	$857K	$1.7M	50x	as long as short
BloFin NG-USDT	+0.0138%	8h	2.9960	−0.020%	$80K	$189K	20x	as long as short
edgeX NATGASUSDC	+0.0164%	4h	2.9961	−0.017%	$85K	$211K	20x	as long as short
Binance NATGASUSDT	+0.0169%	4h	2.9986	+0.065%	$10.1M	$29.7M	100x	as long as short
Bitget NATGASUSDTshort	+0.0184%	4h	2.9950	−0.053%	$10.0M	$3.5M	100x
HTX NATGAS-USDT	+0.0374%	4h	3.0001	+0.117%	$98K	$211K	75x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0406% / S −0.0333%	1h	2.9985	+0.063%	$93K	—	45x	as long as short
Kraken Futures PF_NATGASUSD	+0.1002%	1h	2.9993	+0.089%	$52K	$39K	20x	as long as short