Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0633%/8h= +69.4% APRpaid last 24h +0.225%

Price spread now: Kraken Futures against Paradex−0.034%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Kraken Futures is 0.034% cheaper against Paradex than usual: you would sell low and buy high (spread −0.034% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 4 hours of funding at the current rate (+$19 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex NG-USD-PERP	3.0046	0.0051	pay 0.0051% / 8h	7h 36m	$5K	—	5x
Short	Kraken Futures PF_NATGASUSD	3.0036	0.0684	get 0.0085% / 1h	36m 29s	$53K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Paradex. 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 ParadexbpFee Kraken FuturesbpOrdersPrice spread, now −0.034%Rate

Funding earned: $133.02
Price spread: −0.034% → 0.000%: −$3.39
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $115.63
Costs to cover: 0.140%
Break-even: 0.9 days

Slippage unknown: Paradex: no order-book sample; Kraken Futures: 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 Paradex no order-book sample	—	—	—	—	—
Sell Kraken Futures no order-book sample	—	—	—	—	—

Paradex and Kraken Futures: 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
QFEX NATGAS-USD	0.0000%	1h	3.0050	+0.013%	$660K	$96K	20x	as long as short
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8406	−5.459%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0062	+0.053%	$2K	$2.4M	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0045	−0.004%	$631K	$483K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0039	−0.024%	$109K	$253K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0040	−0.021%	—	$14K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	3.0028	−0.060%	$6.0M	$5.2M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0028	−0.060%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERPlong	+0.0051%	8h	3.0046	long leg	$5K	—	5x
Pacifica NATGAS	+0.0100%	1h	3.0034	−0.039%	$69K	$30K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.154%	$37K	$214K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.154%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0040	−0.021%	$1.5M	$90K	10x	as long as short
Hotstuff NATGAS-PERP	+0.0128%	1h	3.0035	−0.037%	$35K	—	20x	as long as short
KuCoin NATGASUSDTM	+0.0148%	4h	3.0030	−0.054%	$1.0M	$845K	20x	as long as short
Aster NATGASUSDT	+0.0172%	4h	3.0030	−0.054%	$264K	$69K	50x	as long as short
HTX NATGAS-USDT	+0.0180%	4h	3.0059	+0.043%	$119K	$221K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0264%	4h	3.0030	−0.054%	$20K	$221K	25x	as long as short
Gate NG_USDT	+0.0298%	8h	3.0060	+0.046%	$1.5M	$193K	100x	as long as short
Variational Omni NATGAS	+0.0344%	4h	2.9990	−0.187%	$318K	$390K	—	as long as short
Binance NATGASUSDT	+0.0363%	4h	3.0060	+0.046%	$10.4M	$28.8M	100x	as long as short
edgeX NATGASUSDC	+0.0370%	4h	3.0027	−0.062%	$85K	$212K	20x	as long as short
BloFin NG-USDT	+0.0492%	8h	3.0030	−0.054%	$76K	$198K	20x	as long as short
OKX NG-USDT-SWAP	+0.0506%	8h	3.0050	+0.013%	$801K	$1.9M	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0598% / S −0.0615%	1h	3.0045	−0.004%	$88K	—	45x	as long as short
Kraken Futures PF_NATGASUSDshort	+0.0684%	1h	3.0036	−0.034%	$53K	$36K	20x
Bitget NATGASUSDT	+0.0846%	4h	3.0030	−0.054%	$9.9M	$3.0M	100x	as long as short