Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0036%/8h= −4.0% APRpaid last 24h −0.004%

Price spread now: tradeXYZ against Orderly+0.067%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on tradeXYZ

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 airdroptradeXYZ: Active · farm boardneeds both histories

The price spread pays, funding is against you. tradeXYZ is 0.067% dearer against Orderly than usual: you sell high and buy low (spread +0.067% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_NATGAS_USDC_mythos	3.0000	0.0100	pay 0.0100% / 8h	4h 07m	$3K	$544	10x
Short	tradeXYZ xyz:NATGAS	3.0020	0.0064	get 0.0008% / 1h	7m 45s	$6.0M	$5.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Orderly. 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 OrderlybpFee tradeXYZbpOrdersPrice spread, now +0.067%Rate

Funding earned: −$7.61
Price spread: +0.067% → 0.000%: $6.67
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$24.94
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; tradeXYZ: live order book, 9 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 Orderly no order-book sample	—	—	—	—	—
Sell tradeXYZ live order book, 9 min ago	0.67 bp	10.8 bp −$11	15.0 bp −$150	doesn't fit	doesn't fit

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 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	3.0052	+0.173%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0022%	1h	3.0030	+0.100%	$669K	$91K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0026	+0.087%	$619K	$494K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0017	+0.057%	$110K	$404K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0030	+0.100%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0015	+0.050%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0053%	8h	3.0038	+0.127%	$5K	—	5x	as long as short
tradeXYZ xyz:NATGASshort	+0.0064%	1h	3.0020	+0.067%	$6.0M	$5.7M	10x
Pacifica NATGAS	+0.0100%	1h	3.0004	+0.013%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	0.000%	$37K	$216K	50x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_NATGAS_USDC_mythoslong	+0.0100%	8h	3.0000	long leg	$3K	$544	10x
Phemex NGUSDT	+0.0100%	4h	3.0030	+0.100%	$1.5M	$93K	10x	as long as short
Hotstuff NATGAS-PERP	+0.0152%	1h	3.0033	+0.110%	$35K	—	20x	as long as short
HTX NATGAS-USDT	+0.0161%	4h	3.0055	+0.183%	$105K	$211K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0306%	4h	3.0030	+0.101%	$25K	$227K	25x	as long as short
KuCoin NATGASUSDTM	+0.0322%	4h	3.0020	+0.067%	$1.0M	$1.0M	20x	as long as short
Aster NATGASUSDT	+0.0364%	4h	3.0020	+0.067%	$265K	$72K	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0459% / S −0.0400%	1h	3.0035	+0.117%	$92K	—	45x	as long as short
Gate NG_USDT	+0.0496%	8h	3.0070	+0.233%	$1.5M	$194K	100x	as long as short
BloFin NG-USDT	+0.0500%	8h	3.0040	+0.133%	$81K	$192K	20x	as long as short
OKX NG-USDT-SWAP	+0.0516%	8h	3.0030	+0.100%	$861K	$1.7M	50x	as long as short
Variational Omni NATGAS	+0.0574%	4h	3.0029	+0.098%	$317K	$449K	—	as long as short
Binance NATGASUSDT	+0.0583%	4h	3.0020	+0.067%	$10.2M	$28.5M	100x	as long as short
edgeX NATGASUSDC	+0.0606%	4h	3.0030	+0.102%	$85K	$212K	20x	as long as short
Bitget NATGASUSDT	+0.0968%	4h	3.0000	0.000%	$9.9M	$3.3M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0994%	1h	3.0041	+0.136%	$54K	$33K	20x	as long as short