Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0492%/8h= +53.8% APRpaid last 24h +0.223%

Price spread now: Bitget against Ondo Perps−0.160%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.905%+$91 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories

Funding pays, the price is against you. Bitget is 0.160% cheaper against Ondo Perps than usual: you would sell low and buy high (spread −0.160% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 26 hours of funding at the current rate (+$15 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps NATGAS-USD.P	3.0048	0.0050	pay 0.0006% / 1h	44m 42s	$84K	$27K	10x
Short	Bitget NATGASUSDT	3.0000	0.0542	get 0.0271% / 4h	2h 44m	$9.9M	$3.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Ondo Perps. 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 Ondo PerpsbpFee BitgetbpOrdersPrice spread, now −0.160%Rate

Funding earned: $103.24
Price spread: −0.160% → 0.000%: −$15.97
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: $70.26
Costs to cover: 0.170%
Break-even: 2.2 days

Slippage unknown: Ondo Perps: no order-book sample; Bitget: live order book, 4 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Bitget live order book, 4 min ago	1.67 bp	10.1 bp −$10	21.6 bp −$216	98.5 bp −$9,850	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	2.8395	−5.501%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0042	−0.020%	$2K	$2.6M	20x	as long as short
Hotstuff NATGAS-PERP	+0.0016%	1h	3.0015	−0.110%	$35K	—	20x	as long as short
QFEX NATGAS-USD	+0.0019%	1h	3.0030	−0.060%	$659K	$86K	20x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0008	−0.132%	$110K	$450K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0010	−0.126%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	3.0015	−0.110%	$5.9M	$5.9M	10x	as long as short
Ondo Perps NATGAS-USD.Plong	+0.0050%	1h	3.0048	long leg	$84K	$27K	10x
Paradex NG-USD-PERP	+0.0058%	8h	3.0033	−0.051%	$5K	—	5x	as long as short
Lighter NATGAS	+0.0096%	1h	3.0032	−0.053%	$618K	$444K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NATGAS	+0.0100%	1h	3.0022	−0.086%	$68K	$33K	10x	as long as short
KuCoin NATGASUSDTM	+0.0100%	4h	3.0020	−0.093%	$1.0M	$1.1M	20x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.160%	$37K	$216K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.160%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0030	−0.060%	$1.5M	$94K	10x	as long as short
Aster NATGASUSDT	+0.0152%	4h	3.0030	−0.060%	$266K	$73K	50x	as long as short
HTX NATGAS-USDT	+0.0241%	4h	3.0041	−0.023%	$98K	$212K	75x	as long as short
Variational Omni NATGAS	+0.0267%	4h	3.0030	−0.059%	$312K	$443K	—	as long as short
BloFin NG-USDT	+0.0307%	8h	2.9980	−0.226%	$81K	$188K	20x	as long as short
OKX NG-USDT-SWAP	+0.0307%	8h	3.0030	−0.060%	$868K	$1.7M	50x	as long as short
Binance NATGASUSDT	+0.0344%	4h	3.0028	−0.066%	$10.1M	$29.1M	100x	as long as short
edgeX NATGASUSDC	+0.0349%	4h	3.0019	−0.095%	$85K	$213K	20x	as long as short
GRVT NATGAS_USDT_Perp	+0.0366%	4h	3.0006	−0.138%	$25K	$200K	25x	as long as short
Gate NG_USDT	+0.0380%	8h	3.0050	+0.007%	$1.5M	$218K	100x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0418% / S −0.0354%	1h	3.0025	−0.077%	$92K	—	45x	as long as short
Bitget NATGASUSDTshort	+0.0542%	4h	3.0000	−0.160%	$9.9M	$3.5M	100x
Kraken Futures PF_NATGASUSD	+0.0825%	1h	3.0048	−0.001%	$54K	$37K	20x	as long as short