Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0050%/8h= +5.4% APRpaid last 24h +0.009%

Price spread now: Orderly against Ondo Perps−0.033%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 Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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. Orderly is 0.033% cheaper against Ondo Perps than usual: you would sell low and buy high (spread −0.033% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 2.2 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps NATGAS-USD.P	3.0010	0.0050	pay 0.0006% / 1h	49m 36s	$82K	$26K	10x
Short	Orderly PERP_NATGAS_USDC_mythos	3.0000	0.0100	get 0.0100% / 8h	49m 36s	$3K	$544	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.033%Rate

Funding earned: $10.42
Price spread: −0.033% → 0.000%: −$3.33
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$3.92
Costs to cover: 0.110%
Break-even: 9.6 days

Slippage unknown: Ondo Perps: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

Ondo Perps and Orderly: 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	2.8394	−5.385%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0042	+0.107%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0004%	1h	3.0010	0.000%	$659K	$96K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0013	+0.010%	$630K	$494K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0007	−0.009%	$111K	$283K	5x	as long as short
HTX NATGAS-USDT	+0.0037%	4h	3.0054	+0.147%	$117K	$216K	75x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0030	+0.067%	—	$14K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	3.0012	+0.007%	$6.0M	$5.3M	10x	as long as short
Ondo Perps NATGAS-USD.Plong	+0.0050%	1h	3.0010	long leg	$82K	$26K	10x
Paradex NG-USD-PERP	+0.0052%	8h	3.0023	+0.045%	$5K	—	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff NATGAS-PERP	+0.0096%	1h	3.0014	+0.013%	$35K	—	20x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9997	−0.043%	$68K	$30K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.033%	$37K	$216K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythosshort	+0.0100%	8h	3.0000	−0.033%	$3K	$544	10x
Phemex NGUSDT	+0.0100%	4h	3.0020	+0.033%	$1.5M	$92K	10x	as long as short
GRVT NATGAS_USDT_Perp	+0.0122%	4h	3.0020	+0.034%	$15K	$222K	25x	as long as short
KuCoin NATGASUSDTM	+0.0202%	4h	3.0010	0.000%	$1.0M	$892K	20x	as long as short
Aster NATGASUSDT	+0.0235%	4h	3.0019	+0.029%	$264K	$65K	50x	as long as short
Variational Omni NATGAS	+0.0450%	4h	3.0019	+0.030%	$318K	$393K	—	as long as short
Binance NATGASUSDT	+0.0475%	4h	3.0010	0.000%	$10.3M	$28.5M	100x	as long as short
edgeX NATGASUSDC	+0.0484%	4h	3.0020	+0.032%	$85K	$212K	20x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0573% / S −0.0584%	1h	3.0025	+0.050%	$88K	—	45x	as long as short
Gate NG_USDT	+0.0577%	8h	3.0040	+0.100%	$1.5M	$195K	100x	as long as short
OKX NG-USDT-SWAP	+0.0651%	8h	3.0010	0.000%	$868K	$1.7M	50x	as long as short
BloFin NG-USDT	+0.0673%	8h	3.0040	+0.100%	$83K	$198K	20x	as long as short
Kraken Futures PF_NATGASUSD	+0.0862%	1h	3.0038	+0.093%	$56K	$36K	20x	as long as short
Bitget NATGASUSDT	+0.0902%	4h	2.9990	−0.067%	$9.9M	$3.1M	100x	as long as short