Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0191%/8h= −20.9% APRpaid last 24h −0.114%

Price spread now: HTX against OKX+0.067%7-day average +0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$420.417% of the position

Long on OKX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.569%−$57 on $10k

Price spread, last 3 days (all we have)+0.049%+$5 · spread now +0.067%, 7d avg +0.092%

Together, before fees−0.520%−$52 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and HTX is 0.025% cheaper against OKX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.092%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NG-USDT-SWAP	2.9940	0.0191	pay 0.0191% / 8h	36m 09s	$857K	$1.7M	50x
Short	HTX NATGAS-USDT	2.9960	0	get 0.0000% / 4h	36m 09s	$98K	$214K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.067%Rate

Funding earned: −$40.09
Price spread: +0.067% → +0.092%: −$2.47
Slippage, 4 orders: −$19.66
Fee OKX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$84.23
Costs to cover: 0.417%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; HTX: live order book, 40 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, 6 min ago	1.67 bp	11.1 bp −$11	20.9 bp −$209	doesn't fit	doesn't fit
Sell HTX live order book, 40 min ago	4.17 bp	10.5 bp −$10	18.7 bp −$187	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
SunX NATGAS-USDT	0.0000%	4h	2.9962	+0.073%	$2K	$2.6M	20x	as long as short
HTX NATGAS-USDTshort	0.0000%	4h	2.9960	+0.067%	$98K	$214K	75x
Hotstuff NATGAS-PERP	+0.0016%	1h	2.9936	−0.013%	$35K	—	20x	as long as short
QFEX NATGAS-USD	+0.0030%	1h	2.9930	−0.033%	$657K	$86K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9951	+0.037%	$619K	$416K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9930	−0.033%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9932	−0.027%	$5.9M	$6.0M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9958	+0.060%	$84K	$43K	10x	as long as short
Paradex NG-USD-PERP	+0.0075%	8h	2.9940	−0.001%	$5K	—	5x	as long as short
GRVT NATGAS_USDT_Perp	+0.0082%	4h	2.9933	−0.023%	$13K	$238K	25x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NATGAS	+0.0100%	1h	2.9939	−0.002%	$68K	$33K	10x	as long as short
KuCoin NATGASUSDTM	+0.0100%	4h	2.9930	−0.033%	$1.0M	$1.2M	20x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.134%	$36K	$216K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	2.9900	−0.134%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9950	+0.033%	$1.5M	$97K	10x	as long as short
Extended XNG-USD	+0.0128%	1h	2.9926	−0.048%	$110K	$471K	5x	as long as short
OKX NG-USDT-SWAPlong	+0.0191%	8h	2.9940	long leg	$857K	$1.7M	50x
Gate NG_USDT	+0.0192%	8h	2.9970	+0.100%	$1.5M	$285K	100x	as long as short
Aster NATGASUSDT	+0.0204%	4h	2.9947	+0.022%	$265K	$105K	50x	as long as short
BloFin NG-USDT	+0.0207%	8h	2.9940	0.000%	$80K	$189K	20x	as long as short
Variational Omni NATGAS	+0.0226%	4h	2.9942	+0.005%	$311K	$443K	—	as long as short
Binance NATGASUSDT	+0.0316%	4h	2.9945	+0.017%	$10.1M	$30.2M	100x	as long as short
edgeX NATGASUSDC	+0.0351%	4h	2.9941	+0.005%	$85K	$212K	20x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0406% / S −0.0333%	1h	2.9945	+0.017%	$93K	—	45x	as long as short
Bitget NATGASUSDT	+0.0406%	4h	2.9910	−0.100%	$10.0M	$3.9M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1217%	1h	2.9955	+0.049%	$52K	$39K	20x	as long as short