Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.007%

Price spread now: ApeX Omni against HTX−0.290%76s7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1361.356% of the position

Long on HTX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.173%+$17 on $10k

Price spread, last 3 days (all we have)+0.174%+$17 · spread now −0.290%, 7d avg −0.049%

Together, before fees+0.347%+$35 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.241% cheaper against HTX than usual: you would sell low and buy high (spread −0.290% now, against its 7-day average of −0.049%). If the spread goes back, that is −$24 on $10k: about 8.0 days of funding at the current rate (+$3 a day). The two prices were read 76 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX NATGAS-USDT	2.9987	0	get 0.0000% / 4h	17m 54s	$98K	$212K	75x
Short	ApeX Omni NATGASUSDT	2.9900	0.0100	get 0.0013% / 1h	17m 54s	$36K	$217K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against HTX. 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 HTXbpFee ApeX OmnibpOrdersPrice spread, now −0.290%Rate

Funding earned: $21
Price spread: −0.290% → −0.049%: −$24.11
Slippage, 4 orders: −$113.62
Fee HTX: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$138.73
Costs to cover: 1.356%
Break-even: 53.2 days

Slippage from HTX: live order book, 58 min ago; ApeX Omni: live order book, 58 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 HTX live order book, 58 min ago	4.17 bp	10.2 bp −$10	18.0 bp −$180	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 58 min ago	16.69 bp	60.3 bp −$60	267.3 bp −$2,673	doesn't fit	doesn't fit

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-PERP	−0.0024%	1h	2.9947	−0.133%	$35K	—	20x	as long as short
GRVT NATGAS_USDT_Perp	0.0000%	4h	2.9948	−0.131%	$13K	$238K	25x	as long as short
SunX NATGAS-USDT	0.0000%	4h	2.9972	−0.050%	$2K	$2.6M	20x	as long as short
HTX NATGAS-USDTlong	0.0000%	4h	2.9987	long leg	$98K	$212K	75x
QFEX NATGAS-USD	+0.0030%	1h	2.9950	−0.123%	$657K	$86K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9965	−0.073%	$616K	$419K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9950	−0.123%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9947	−0.133%	$5.9M	$6.0M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9940	−0.157%	$84K	$43K	10x	as long as short
Extended XNG-USD	+0.0064%	1h	2.9938	−0.164%	$110K	$453K	5x	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	+0.0067%	8h	2.9950	−0.124%	$5K	—	5x	as long as short
Aster NATGASUSDT	+0.0074%	4h	2.9960	−0.090%	$265K	$73K	50x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9948	−0.131%	$68K	$33K	10x	as long as short
KuCoin NATGASUSDTM	+0.0100%	4h	2.9950	−0.123%	$1.0M	$1.2M	20x	as long as short
ApeX Omni NATGASUSDTshort	+0.0100%	1h	2.9900	−0.290%	$36K	$217K	50x
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	+0.043%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9960	−0.090%	$1.5M	$97K	10x	as long as short
BloFin NG-USDT	+0.0113%	8h	2.9940	−0.157%	$80K	$189K	20x	as long as short
Variational Omni NATGAS	+0.0115%	4h	2.9951	−0.120%	$311K	$443K	—	as long as short
OKX NG-USDT-SWAP	+0.0136%	8h	2.9960	−0.090%	$856K	$1.7M	50x	as long as short
Gate NG_USDT	+0.0174%	8h	2.9980	−0.023%	$1.5M	$285K	100x	as long as short
Binance NATGASUSDT	+0.0202%	4h	2.9950	−0.123%	$10.1M	$30.0M	100x	as long as short
edgeX NATGASUSDC	+0.0252%	4h	2.9951	−0.121%	$85K	$212K	20x	as long as short
Bitget NATGASUSDT	+0.0292%	4h	2.9930	−0.190%	$10.0M	$3.7M	100x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0406% / S −0.0333%	1h	2.9955	−0.107%	$93K	—	45x	as long as short
Kraken Futures PF_NATGASUSD	+0.1217%	1h	2.9970	−0.057%	$52K	$39K	20x	as long as short