Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0434%/8h= +47.5% APRpaid last 24h −0.006%

Price spread now: GRVT against Ondo Perps−0.080%53s7-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 GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.116%−$12 on $10k

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

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

Funding pays, the price is against you. GRVT is 0.080% cheaper against Ondo Perps than usual: you would sell low and buy high (spread −0.080% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 15 hours of funding at the current rate (+$13 a day). Mind the row above: over the last 7 days funding on this pair cost −0.116%, so the current rate has only just turned in your favour. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.116% in total (about -6.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps NATGAS-USD.P	2.9993	0.0050	pay 0.0006% / 1h	51m 52s	$84K	$42K	10x
Short	GRVT NATGAS_USDT_Perp	2.9969	0.0484	get 0.0242% / 4h	3h 51m	$25K	$241K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.080%Rate

Funding earned: $91.06
Price spread: −0.080% → 0.000%: −$8
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $69.06
Costs to cover: 0.140%
Break-even: 1.7 days

Slippage unknown: Ondo Perps: no order-book sample; GRVT: live order book, 21 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 GRVT live order book, 21 min ago	1.67 bp	6.2 bp −$6	23.6 bp −$236	doesn't fit	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	2.8335	−5.528%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0002	+0.030%	$2K	$2.6M	20x	as long as short
QFEX NATGAS-USD	+0.0015%	1h	2.9970	−0.077%	$658K	$86K	20x	as long as short
Extended XNG-USD	+0.0032%	1h	2.9967	−0.088%	$110K	$453K	5x	as long as short
Aster NATGASUSDT	+0.0034%	4h	2.9960	−0.110%	$265K	$73K	50x	as long as short
Hotstuff NATGAS-PERP	+0.0040%	1h	2.9975	−0.060%	$35K	—	20x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9970	−0.077%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9972	−0.070%	$5.9M	$6.0M	10x	as long as short
Ondo Perps NATGAS-USD.Plong	+0.0050%	1h	2.9993	long leg	$84K	$42K	10x
Lighter NATGAS	+0.0056%	1h	2.9992	−0.003%	$616K	$412K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex NG-USD-PERP	+0.0060%	8h	2.9988	−0.015%	$5K	—	5x	as long as short
Variational Omni NATGAS	+0.0061%	4h	2.9971	−0.074%	$311K	$443K	—	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9974	−0.063%	$68K	$33K	10x	as long as short
KuCoin NATGASUSDTM	+0.0100%	4h	2.9970	−0.077%	$1.0M	$1.2M	20x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.310%	$36K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	+0.023%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9990	−0.010%	$1.5M	$95K	10x	as long as short
BloFin NG-USDT	+0.0127%	8h	2.9970	−0.077%	$80K	$189K	20x	as long as short
OKX NG-USDT-SWAP	+0.0145%	8h	2.9970	−0.077%	$857K	$1.7M	50x	as long as short
edgeX NATGASUSDC	+0.0169%	4h	2.9971	−0.074%	$85K	$211K	20x	as long as short
Binance NATGASUSDT	+0.0175%	4h	2.9986	−0.024%	$10.1M	$29.7M	100x	as long as short
Bitget NATGASUSDT	+0.0202%	4h	2.9950	−0.143%	$10.0M	$3.5M	100x	as long as short
HTX NATGAS-USDT	+0.0254%	4h	3.0001	+0.027%	$98K	$211K	75x	as long as short
Gate NG_USDT	+0.0283%	8h	2.9990	−0.010%	$1.5M	$254K	100x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0406% / S −0.0333%	1h	2.9985	−0.027%	$93K	—	45x	as long as short
GRVT NATGAS_USDT_Perpshort	+0.0484%	4h	2.9969	−0.080%	$25K	$241K	25x
Kraken Futures PF_NATGASUSD	+0.1002%	1h	2.9992	−0.003%	$52K	$39K	20x	as long as short