Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0034%/8h= −3.7% APRpaid last 24h −0.007%

Price spread now: Lighter against Paradex+0.050%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Lighter

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 · Lighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 0.050% dearer against Paradex than usual: you sell high and buy low (spread +0.050% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex NG-USD-PERP	2.9953	0.0066	pay 0.0066% / 8h	14m 56s	$5K	—	5x
Short	Lighter NATGAS	2.9968	0.0032	get 0.0004% / 1h	14m 56s	$616K	$419K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.050%Rate

Funding earned: −$7.06
Price spread: +0.050% → 0.000%: $5.02
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: −$6.04
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Lighter: live order book, 56 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 Paradex no order-book sample	—	—	—	—	—
Sell Lighter live order book, 56 min ago	0.50 bp	3.7 bp −$4	18.0 bp −$180	91.8 bp −$9,179	doesn't fit

Paradex: 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
GRVT NATGAS_USDT_Perp	0.0000%	4h	2.9948	−0.016%	$13K	$238K	25x	as long as short
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8306	−5.499%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	2.9947	−0.020%	$2K	$2.6M	20x	as long as short
HTX NATGAS-USDT	0.0000%	4h	2.9987	+0.114%	$98K	$212K	75x	as long as short
QFEX NATGAS-USD	+0.0030%	1h	2.9950	−0.010%	$657K	$86K	20x	as long as short
Lighter NATGASshort	+0.0032%	1h	2.9968	+0.050%	$616K	$419K	10x
Vest NG-PERP	+0.0046%	1h	2.9950	−0.010%	—	$378	10x	as long as short
Extended XNG-USD	+0.0048%	1h	2.9943	−0.032%	$110K	$453K	5x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9947	−0.020%	$5.9M	$6.0M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9973	+0.067%	$84K	$43K	10x	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	+0.0056%	1h	2.9952	−0.003%	$35K	—	20x	as long as short
Aster NATGASUSDT	+0.0058%	4h	2.9960	+0.023%	$265K	$73K	50x	as long as short
Paradex NG-USD-PERPlong	+0.0066%	8h	2.9953	long leg	$5K	—	5x
Variational Omni NATGAS	+0.0080%	4h	2.9951	−0.008%	$311K	$443K	—	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9951	−0.006%	$68K	$33K	10x	as long as short
KuCoin NATGASUSDTM	+0.0100%	4h	2.9950	−0.010%	$1.0M	$1.2M	20x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.177%	$36K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	+0.157%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9950	−0.010%	$1.5M	$97K	10x	as long as short
OKX NG-USDT-SWAP	+0.0127%	8h	2.9960	+0.023%	$856K	$1.7M	50x	as long as short
BloFin NG-USDT	+0.0157%	8h	2.9960	+0.023%	$80K	$189K	20x	as long as short
Gate NG_USDT	+0.0171%	8h	2.9980	+0.090%	$1.5M	$285K	100x	as long as short
Binance NATGASUSDT	+0.0182%	4h	2.9955	+0.008%	$10.1M	$29.9M	100x	as long as short
edgeX NATGASUSDC	+0.0208%	4h	2.9951	−0.008%	$85K	$213K	20x	as long as short
Bitget NATGASUSDT	+0.0274%	4h	2.9930	−0.077%	$10.0M	$3.7M	100x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0406% / S −0.0333%	1h	2.9955	+0.007%	$93K	—	45x	as long as short
Kraken Futures PF_NATGASUSD	+0.1217%	1h	2.9970	+0.058%	$52K	$39K	20x	as long as short