Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0203%/8h= +22.2% APRpaid last 24h +0.093%

Price spread now: Gate against Lighter−0.017%7-day average +0.140% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$470.472% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.296%−$30 on $10k

Price spread, last 4 days (all we have)−0.015%−$2 · spread now −0.017%, 7d avg +0.140%

Together, before fees−0.312%+ Points / potential airdropLighter: Season 3 · farm board−$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.157% cheaper against Lighter than usual: you would sell low and buy high (spread −0.017% now, against its 7-day average of +0.140%). If the spread goes back, that is −$16 on $10k: about 2.6 days of funding at the current rate (+$6 a day). Mind the row above: over the last 7 days funding on this pair cost −0.296%, 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	2.9995	0.0056	pay 0.0007% / 1h	52m 55s	$617K	$412K	10x
Short	Gate NG_USDT	2.9990	0.0259	get 0.0259% / 8h	7h 52m	$1.5M	$254K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.017%Rate

Funding earned: $42.63
Price spread: −0.017% → +0.140%: −$15.69
Slippage, 4 orders: −$32.18
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$20.23
Costs to cover: 0.472%
Break-even: 10.3 days

Slippage from Lighter: live order book, 13 min ago; Gate: live order book, 4 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, 13 min ago	1.17 bp	1.8 bp −$2	10.2 bp −$102	71.7 bp −$7,167	doesn't fit
Sell Gate live order book, 4 min ago	1.67 bp	18.4 bp −$18	65.8 bp −$658	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
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8339	−5.521%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0002	+0.023%	$2K	$2.6M	20x	as long as short
QFEX NATGAS-USD	+0.0015%	1h	2.9970	−0.083%	$658K	$86K	20x	as long as short
Extended XNG-USD	+0.0032%	1h	2.9966	−0.095%	$110K	$453K	5x	as long as short
Aster NATGASUSDT	+0.0033%	4h	2.9960	−0.117%	$265K	$73K	50x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9970	−0.083%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9972	−0.077%	$5.9M	$6.0M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9993	−0.007%	$84K	$42K	10x	as long as short
Lighter NATGASlong	+0.0056%	1h	2.9995	long leg	$617K	$412K	10x
Paradex NG-USD-PERP	+0.0060%	8h	2.9990	−0.018%	$5K	—	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NATGAS	+0.0061%	4h	2.9971	−0.080%	$311K	$443K	—	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9975	−0.067%	$68K	$33K	10x	as long as short
KuCoin NATGASUSDTM	+0.0100%	4h	2.9970	−0.083%	$1.0M	$1.2M	20x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.317%	$36K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	+0.017%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9980	−0.050%	$1.5M	$95K	10x	as long as short
BloFin NG-USDT	+0.0127%	8h	2.9970	−0.083%	$80K	$189K	20x	as long as short
Hotstuff NATGAS-PERP	+0.0128%	1h	2.9975	−0.067%	$35K	—	20x	as long as short
OKX NG-USDT-SWAP	+0.0142%	8h	2.9970	−0.083%	$857K	$1.7M	50x	as long as short
edgeX NATGASUSDC	+0.0169%	4h	2.9971	−0.080%	$85K	$211K	20x	as long as short
Binance NATGASUSDT	+0.0173%	4h	2.9980	−0.050%	$10.1M	$29.7M	100x	as long as short
Bitget NATGASUSDT	+0.0196%	4h	2.9950	−0.150%	$10.0M	$3.5M	100x	as long as short
HTX NATGAS-USDT	+0.0247%	4h	3.0000	+0.017%	$98K	$211K	75x	as long as short
Gate NG_USDTshort	+0.0259%	8h	2.9990	−0.017%	$1.5M	$254K	100x
GMX NATGAS/USD [ETH-USDC]	L +0.0406% / S −0.0333%	1h	2.9985	−0.033%	$93K	—	45x	as long as short
GRVT NATGAS_USDT_Perp	+0.0484%	4h	2.9969	−0.087%	$25K	$241K	25x	as long as short
Kraken Futures PF_NATGASUSD	+0.1002%	1h	2.9991	−0.014%	$52K	$39K	20x	as long as short