Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0222%/8h= −24.3% APRpaid last 24h −0.225%

Price spread now: Paradex against Kraken Futures+0.038%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.038% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.038% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_NATGASUSD	2.9959	0.0298	pay 0.0037% / 1h	56m 33s	$53K	$45K	20x
Short	Paradex NG-USD-PERP	2.9971	0.0076	get 0.0076% / 8h	6h 56m	$5K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$46.68
Price spread: +0.038% → 0.000%: $3.8
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$56.87
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Paradex: no order-book sample. 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 Paradex no order-book sample	—	—	—	—	—

Kraken Futures and Paradex: 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	2.8324	−5.459%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	2.9981	+0.072%	$2K	$2.1M	20x	as long as short
QFEX NATGAS-USD	+0.0024%	1h	2.9960	+0.002%	$660K	$98K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9969	+0.032%	$632K	$484K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	2.9962	+0.010%	$112K	$259K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9970	+0.036%	—	$14K	10x	as long as short
HTX NATGAS-USDT	+0.0047%	4h	2.9977	+0.059%	$118K	$221K	75x	as long as short
Hotstuff NATGAS-PERP	+0.0048%	1h	2.9953	−0.021%	$35K	—	20x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9960	+0.002%	$5.9M	$5.6M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9973	+0.046%	$84K	$28K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex NG-USD-PERPshort	+0.0076%	8h	2.9971	+0.038%	$5K	—	5x
Pacifica NATGAS	+0.0100%	1h	2.9947	−0.042%	$70K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.198%	$36K	$214K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	2.9900	−0.198%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9960	+0.002%	$1.5M	$92K	10x	as long as short
Aster NATGASUSDT	+0.0215%	4h	2.9946	−0.045%	$264K	$68K	50x	as long as short
KuCoin NATGASUSDTM	+0.0228%	4h	2.9960	+0.002%	$1.1M	$851K	20x	as long as short
Gate NG_USDT	+0.0244%	8h	2.9990	+0.102%	$1.5M	$198K	100x	as long as short
GRVT NATGAS_USDT_Perp	+0.0282%	4h	2.9946	−0.043%	$20K	$205K	25x	as long as short
Kraken Futures PF_NATGASUSDlong	+0.0298%	1h	2.9959	long leg	$53K	$45K	20x
Binance NATGASUSDT	+0.0404%	4h	2.9960	+0.002%	$9.8M	$31.6M	100x	as long as short
Variational Omni NATGAS	+0.0405%	4h	2.9949	−0.033%	$355K	$429K	—	as long as short
edgeX NATGASUSDC	+0.0438%	4h	2.9959	0.000%	$85K	$211K	20x	as long as short
BloFin NG-USDT	+0.0476%	8h	2.9960	+0.002%	$77K	$198K	20x	as long as short
OKX NG-USDT-SWAP	+0.0488%	8h	2.9950	−0.031%	$811K	$1.9M	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0586% / S −0.0602%	1h	2.9945	−0.048%	$88K	—	45x	as long as short
Bitget NATGASUSDT	+0.0856%	4h	2.9940	−0.065%	$9.9M	$3.0M	100x	as long as short