Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0133%/8h= −14.6% APRpaid last 24h −0.112%

Price spread now: GRVT against OKX−0.007%111s7-day average +0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$410.410% of the position

Long on OKX Short on GRVT

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.024%+$2 · spread now −0.007%, 7d avg +0.043%

Together, before fees−0.448%+ Points / potential airdropGRVT: Active · farm board−$45 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and GRVT is 0.050% cheaper against OKX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.043%). Swap the legs. The two prices were read 111 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NG-USDT-SWAP	2.9950	0.0133	pay 0.0133% / 8h	17m 42s	$856K	$1.7M	50x
Short	GRVT NATGAS_USDT_Perp	2.9948	0	get 0.0000% / 4h	17m 42s	$13K	$238K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against OKX. 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 OKXbpFee GRVTbpOrdersPrice spread, now −0.007%Rate

Funding earned: −$27.92
Price spread: −0.007% → +0.043%: −$5.01
Slippage, 4 orders: −$22.03
Fee OKX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$73.96
Costs to cover: 0.410%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; GRVT: live order book, 60 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 OKX live order book, 4 min ago	1.67 bp	12.1 bp −$12	26.5 bp −$265	doesn't fit	doesn't fit
Sell GRVT live order book, 60 min ago	1.67 bp	9.5 bp −$10	16.7 bp −$167	doesn't fit	doesn't fit

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	−0.010%	$35K	—	20x	as long as short
GRVT NATGAS_USDT_Perpshort	0.0000%	4h	2.9948	−0.007%	$13K	$238K	25x
SunX NATGAS-USDT	0.0000%	4h	2.9972	+0.073%	$2K	$2.6M	20x	as long as short
HTX NATGAS-USDT	0.0000%	4h	2.9987	+0.124%	$98K	$212K	75x	as long as short
QFEX NATGAS-USD	+0.0030%	1h	2.9950	0.000%	$657K	$86K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9965	+0.050%	$616K	$419K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9950	0.000%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9947	−0.010%	$5.9M	$6.0M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9940	−0.033%	$84K	$43K	10x	as long as short
Extended XNG-USD	+0.0064%	1h	2.9938	−0.041%	$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
Aster NATGASUSDT	+0.0066%	4h	2.9960	+0.033%	$265K	$73K	50x	as long as short
Paradex NG-USD-PERP	+0.0066%	8h	2.9951	+0.002%	$5K	—	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9948	−0.007%	$68K	$33K	10x	as long as short
KuCoin NATGASUSDTM	+0.0100%	4h	2.9950	0.000%	$1.0M	$1.2M	20x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.167%	$36K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	+0.167%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9960	+0.033%	$1.5M	$97K	10x	as long as short
BloFin NG-USDT	+0.0113%	8h	2.9940	−0.033%	$80K	$189K	20x	as long as short
Variational Omni NATGAS	+0.0115%	4h	2.9951	+0.003%	$311K	$443K	—	as long as short
OKX NG-USDT-SWAPlong	+0.0133%	8h	2.9950	long leg	$856K	$1.7M	50x
Gate NG_USDT	+0.0174%	8h	2.9980	+0.100%	$1.5M	$285K	100x	as long as short
Binance NATGASUSDT	+0.0192%	4h	2.9950	0.000%	$10.1M	$30.0M	100x	as long as short
edgeX NATGASUSDC	+0.0252%	4h	2.9951	+0.002%	$85K	$212K	20x	as long as short
Bitget NATGASUSDT	+0.0286%	4h	2.9930	−0.067%	$10.0M	$3.7M	100x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0406% / S −0.0333%	1h	2.9955	+0.017%	$93K	—	45x	as long as short
Kraken Futures PF_NATGASUSD	+0.1217%	1h	2.9970	+0.067%	$52K	$39K	20x	as long as short