Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0486%/8h= +53.2% APRpaid last 24h +0.073%

Price spread now: Aster against Lighter+0.047%7-day average +0.136% · you sell dearer than you buy

Net, funding: paid 7d − costs−$149as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$840.843% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.648%−$65 on $10k

Price spread, last 4 days (all we have)−0.034%−$3 · spread now +0.047%, 7d avg +0.136%

Together, before fees−0.682%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board−$68 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.088% cheaper against Lighter than usual: you would sell low and buy high (spread +0.047% now, against its 7-day average of +0.136%). If the spread goes back, that is −$9 on $10k: about 15 hours of funding at the current rate (+$15 a day). Mind the row above: over the last 7 days funding on this pair cost −0.648%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NATGAS	2.9926	0.0032	pay 0.0004% / 1h	15m 38s	$618K	$411K	10x
Short	Aster NATGASUSDT	2.9940	0.0518	get 0.0259% / 4h	1h 15m	$265K	$105K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now +0.047%Rate

Funding earned: $102.02
Price spread: +0.047% → +0.136%: −$8.85
Slippage, 4 orders: −$76.26
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: $8.91
Costs to cover: 0.843%
Break-even: 6.4 days

Slippage from Lighter: live order book, 60 min ago; Aster: live order book, 1 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 Lighter live order book, 60 min ago	0.83 bp	17.2 bp −$17	19.1 bp −$191	84.4 bp −$8,438	doesn't fit
Sell Aster live order book, 1 min ago	5.01 bp	12.2 bp −$12	15.6 bp −$156	doesn't fit	doesn't fit

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
Hotstuff NATGAS-PERP	−0.0008%	1h	2.9931	+0.017%	$35K	—	20x	as long as short
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8275	−5.517%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	2.9962	+0.120%	$2K	$2.6M	20x	as long as short
Lighter NATGASlong	+0.0032%	1h	2.9926	long leg	$618K	$411K	10x
Vest NG-PERP	+0.0046%	1h	2.9920	−0.020%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9931	+0.017%	$5.9M	$6.0M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9954	+0.094%	$84K	$49K	10x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9912	−0.047%	$68K	$34K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.087%	$36K	$216K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	2.9900	−0.087%	$3K	$544	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex NGUSDT	+0.0100%	4h	2.9940	+0.047%	$1.5M	$100K	10x	as long as short
Paradex NG-USD-PERP	+0.0112%	8h	2.9939	+0.045%	$5K	—	5x	as long as short
QFEX NATGAS-USD	+0.0160%	1h	2.9930	+0.013%	$656K	$86K	20x	as long as short
KuCoin NATGASUSDTM	+0.0180%	4h	2.9930	+0.013%	$1.0M	$1.2M	20x	as long as short
HTX NATGAS-USDT	+0.0199%	4h	2.9957	+0.104%	$98K	$215K	75x	as long as short
Gate NG_USDT	+0.0225%	8h	2.9960	+0.114%	$1.5M	$307K	100x	as long as short
Extended XNG-USD	+0.0240%	1h	2.9908	−0.060%	$110K	$471K	5x	as long as short
BloFin NG-USDT	+0.0302%	8h	2.9940	+0.047%	$80K	$189K	20x	as long as short
OKX NG-USDT-SWAP	+0.0310%	8h	2.9930	+0.013%	$856K	$1.7M	50x	as long as short
GRVT NATGAS_USDT_Perp	+0.0332%	4h	2.9930	+0.013%	$13K	$246K	25x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0406% / S −0.0333%	1h	2.9945	+0.063%	$93K	—	45x	as long as short
Kraken Futures PF_NATGASUSD	+0.0515%	1h	2.9954	+0.094%	$52K	$44K	20x	as long as short
Aster NATGASUSDTshort	+0.0518%	4h	2.9940	+0.047%	$265K	$105K	50x
Variational Omni NATGAS	+0.0568%	4h	2.9931	+0.018%	$311K	$446K	—	as long as short
Binance NATGASUSDT	+0.0599%	4h	2.9942	+0.053%	$10.1M	$30.9M	100x	as long as short
edgeX NATGASUSDC	+0.0637%	4h	2.9932	+0.021%	$85K	$213K	20x	as long as short
Bitget NATGASUSDT	+0.0796%	4h	2.9910	−0.053%	$10.0M	$4.0M	100x	as long as short