Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0155%/8h= +17.0% APRpaid last 24h −0.012%

Price spread now: Bitget against Kraken Futures−0.052%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.435%+$43 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Bitget is 0.052% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.052% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 27 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_NATGASUSD	2.9996	0.0685	pay 0.0086% / 1h	43m 05s	$53K	$36K	20x
Short	Bitget NATGASUSDT	2.9980	0.0840	get 0.0420% / 4h	3h 43m	$9.9M	$3.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Kraken Futures. 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 Kraken FuturesbpFee BitgetbpOrdersPrice spread, now −0.052%Rate

Funding earned: $32.57
Price spread: −0.052% → 0.000%: −$5.23
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: $5.35
Costs to cover: 0.220%
Break-even: 5.9 days

Slippage unknown: Kraken Futures: no order-book sample; Bitget: live order book, just now. 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Bitget live order book, just now	1.67 bp	11.1 bp −$11	22.3 bp −$223	60.5 bp −$6,047	doesn't fit

Kraken Futures: 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
QFEX NATGAS-USD	0.0000%	1h	3.0000	+0.014%	$658K	$96K	20x	as long as short
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8366	−5.433%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0021	+0.084%	$2K	$2.4M	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0005	+0.031%	$630K	$483K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	2.9987	−0.029%	$109K	$253K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9990	−0.019%	—	$14K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9990	−0.019%	$6.0M	$5.2M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0015	+0.064%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0050%	8h	3.0006	+0.035%	$5K	—	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9984	−0.039%	$69K	$30K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	+0.014%	$37K	$214K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	+0.014%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0000	+0.014%	$1.5M	$90K	10x	as long as short
Hotstuff NATGAS-PERP	+0.0120%	1h	2.9984	−0.039%	$35K	—	20x	as long as short
KuCoin NATGASUSDTM	+0.0152%	4h	2.9990	−0.019%	$1.0M	$848K	20x	as long as short
Aster NATGASUSDT	+0.0171%	4h	3.0027	+0.105%	$264K	$69K	50x	as long as short
Gate NG_USDT	+0.0241%	8h	3.0030	+0.114%	$1.5M	$193K	100x	as long as short
HTX NATGAS-USDT	+0.0282%	4h	3.0013	+0.058%	$118K	$220K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0316%	4h	2.9990	−0.018%	$18K	$218K	25x	as long as short
Variational Omni NATGAS	+0.0340%	4h	3.0000	+0.015%	$318K	$390K	—	as long as short
Binance NATGASUSDT	+0.0365%	4h	3.0000	+0.014%	$10.4M	$28.7M	100x	as long as short
edgeX NATGASUSDC	+0.0373%	4h	2.9995	−0.002%	$85K	$213K	20x	as long as short
OKX NG-USDT-SWAP	+0.0514%	8h	2.9980	−0.052%	$801K	$1.9M	50x	as long as short
BloFin NG-USDT	+0.0517%	8h	3.0000	+0.014%	$76K	$198K	20x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0595% / S −0.0612%	1h	3.0005	+0.031%	$88K	—	45x	as long as short
Kraken Futures PF_NATGASUSDlong	+0.0685%	1h	2.9996	long leg	$53K	$36K	20x
Bitget NATGASUSDTshort	+0.0840%	4h	2.9980	−0.052%	$9.9M	$3.0M	100x