Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0168%/8h= −18.4% APRpaid last 24h −0.015%

Price spread now: SunX against Hotstuff+0.077%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on SunX

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

The price spread pays, funding is against you. SunX is 0.077% dearer against Hotstuff than usual: you sell high and buy low (spread +0.077% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff NATGAS-PERP	2.9929	0.0168	pay 0.0021% / 1h	5m 05s	$35K	—	20x
Short	SunX NATGAS-USDT	2.9952	0	get 0.0000% / 4h	1h 05m	$2K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.077%Rate

Funding earned: −$35.28
Price spread: +0.077% → 0.000%: $7.68
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$40.6
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; SunX: 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 SunX live order book, 2 min ago	15.02 bp	27.8 bp −$28	doesn't fit	doesn't fit	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 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
SunX NATGAS-USDTshort	0.0000%	4h	2.9952	+0.077%	$2K	$2.6M	20x
Lighter NATGAS	+0.0032%	1h	2.9935	+0.020%	$619K	$411K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9930	+0.003%	—	$378	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9950	+0.070%	$84K	$45K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0058%	1h	2.9920	−0.030%	$5.9M	$6.0M	10x	as long as short
Paradex NG-USD-PERP	+0.0100%	8h	2.9930	+0.004%	$5K	—	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9916	−0.042%	$68K	$34K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.097%	$36K	$216K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	2.9900	−0.097%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9930	+0.003%	$1.5M	$99K	10x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NATGASUSDTM	+0.0114%	4h	2.9920	−0.030%	$1.0M	$1.2M	20x	as long as short
HTX NATGAS-USDT	+0.0144%	4h	2.9954	+0.084%	$98K	$215K	75x	as long as short
QFEX NATGAS-USD	+0.0160%	1h	2.9930	+0.003%	$657K	$86K	20x	as long as short
Hotstuff NATGAS-PERPlong	+0.0168%	1h	2.9929	long leg	$35K	—	20x
Gate NG_USDT	+0.0221%	8h	2.9960	+0.104%	$1.5M	$307K	100x	as long as short
OKX NG-USDT-SWAP	+0.0281%	8h	2.9930	+0.003%	$856K	$1.7M	50x	as long as short
GRVT NATGAS_USDT_Perp	+0.0286%	4h	2.9938	+0.029%	$13K	$246K	25x	as long as short
BloFin NG-USDT	+0.0308%	8h	2.9930	+0.003%	$80K	$189K	20x	as long as short
Extended XNG-USD	+0.0320%	1h	2.9915	−0.046%	$110K	$471K	5x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0406% / S −0.0333%	1h	2.9935	+0.020%	$93K	—	45x	as long as short
Aster NATGASUSDT	+0.0442%	4h	2.9941	+0.041%	$265K	$105K	50x	as long as short
Variational Omni NATGAS	+0.0478%	4h	2.9931	+0.007%	$311K	$444K	—	as long as short
Kraken Futures PF_NATGASUSD	+0.0515%	1h	2.9949	+0.067%	$52K	$42K	20x	as long as short
Binance NATGASUSDT	+0.0543%	4h	2.9935	+0.022%	$10.1M	$30.5M	100x	as long as short
edgeX NATGASUSDC	+0.0579%	4h	2.9931	+0.007%	$85K	$212K	20x	as long as short
Bitget NATGASUSDT	+0.0712%	4h	2.9900	−0.097%	$10.0M	$3.9M	100x	as long as short