Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0173%/8h= +18.9% APRpaid last 24h +0.117%

Price spread now: Binance against Lighter−0.027%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$250.255% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.471%−$47 on $10k

Price spread, last 2 days (all we have)+0.146%+$15 · spread now −0.027%, 7d avg +0.024%

Together, before fees−0.324%+ Points / potential airdropLighter: Season 3 · farm board−$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.051% cheaper against Lighter than usual: you would sell low and buy high (spread −0.027% now, against its 7-day average of +0.024%). If the spread goes back, that is −$5 on $10k: about 24 hours of funding at the current rate (+$5 a day). Mind the row above: over the last 7 days funding on this pair cost −0.471%, 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	2.9964	0.0032	pay 0.0004% / 1h	19m 38s	$619K	$416K	10x
Short	Binance NATGASUSDT	2.9956	0.0205	get 0.0102% / 4h	19m 38s	$10.1M	$30.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.027%Rate

Funding earned: $36.3
Price spread: −0.027% → +0.024%: −$5.11
Slippage, 4 orders: −$15.46
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: $5.74
Costs to cover: 0.255%
Break-even: 5.9 days

Slippage from Lighter: live order book, 51 min ago; Binance: live order book, 7 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, 51 min ago	0.50 bp	8.4 bp −$8	15.3 bp −$153	73.6 bp −$7,364	doesn't fit
Sell Binance live order book, 7 min ago	1.67 bp	6.7 bp −$7	8.7 bp −$87	35.8 bp −$3,575	137.1 bp −$68.5K

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	−0.057%	$35K	—	20x	as long as short
GRVT NATGAS_USDT_Perp	0.0000%	4h	2.9948	−0.054%	$13K	$238K	25x	as long as short
SunX NATGAS-USDT	0.0000%	4h	2.9972	+0.027%	$2K	$2.6M	20x	as long as short
HTX NATGAS-USDT	0.0000%	4h	2.9987	+0.077%	$98K	$213K	75x	as long as short
QFEX NATGAS-USD	+0.0030%	1h	2.9950	−0.047%	$657K	$86K	20x	as long as short
Lighter NATGASlong	+0.0032%	1h	2.9964	long leg	$619K	$416K	10x
Vest NG-PERP	+0.0046%	1h	2.9950	−0.047%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9947	−0.057%	$5.9M	$6.0M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9940	−0.080%	$84K	$43K	10x	as long as short
Extended XNG-USD	+0.0064%	1h	2.9938	−0.086%	$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	−0.046%	$5K	—	5x	as long as short
Aster NATGASUSDT	+0.0082%	4h	2.9960	−0.013%	$265K	$73K	50x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9937	−0.091%	$68K	$33K	10x	as long as short
KuCoin NATGASUSDTM	+0.0100%	4h	2.9950	−0.047%	$1.0M	$1.2M	20x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.214%	$36K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	+0.120%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9950	−0.047%	$1.5M	$97K	10x	as long as short
Variational Omni NATGAS	+0.0115%	4h	2.9951	−0.044%	$311K	$443K	—	as long as short
BloFin NG-USDT	+0.0132%	8h	2.9960	−0.013%	$80K	$189K	20x	as long as short
OKX NG-USDT-SWAP	+0.0139%	8h	2.9950	−0.047%	$858K	$1.7M	50x	as long as short
Gate NG_USDT	+0.0175%	8h	2.9970	+0.020%	$1.5M	$285K	100x	as long as short
Binance NATGASUSDTshort	+0.0205%	4h	2.9956	−0.027%	$10.1M	$30.0M	100x
edgeX NATGASUSDC	+0.0252%	4h	2.9951	−0.045%	$85K	$212K	20x	as long as short
Bitget NATGASUSDT	+0.0298%	4h	2.9930	−0.113%	$10.0M	$3.7M	100x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0406% / S −0.0333%	1h	2.9955	−0.030%	$93K	—	45x	as long as short
Kraken Futures PF_NATGASUSD	+0.1217%	1h	2.9970	+0.020%	$52K	$39K	20x	as long as short