Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h +0.014%

Price spread now: Phemex against Paradex−0.032%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 Phemex

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. Phemex is 0.032% cheaper against Paradex than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 2.5 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	Paradex NG-USD-PERP	3.0039	0.0058	pay 0.0058% / 8h	6h 39m	$5K	—	5x
Short	Phemex NGUSDT	3.0030	0.0100	get 0.0050% / 4h	2h 39m	$1.5M	$94K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.032%Rate

Funding earned: $8.9
Price spread: −0.032% → 0.000%: −$3.16
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$10.26
Costs to cover: 0.160%
Break-even: 15.1 days

Slippage unknown: Paradex: no order-book sample; Phemex: live order book, 4 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 Phemex live order book, 4 min ago	1.66 bp	30.5 bp −$30	doesn't fit	doesn't fit	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
Hotstuff NATGAS-PERP	0.0000%	1h	3.0020	−0.065%	$35K	—	20x	as long as short
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8400	−5.458%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0061	+0.072%	$2K	$2.6M	20x	as long as short
QFEX NATGAS-USD	+0.0019%	1h	3.0030	−0.032%	$659K	$86K	20x	as long as short
Extended XNG-USD	+0.0040%	1h	3.0017	−0.076%	$110K	$450K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0030	−0.032%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	3.0026	−0.045%	$5.9M	$5.9M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0022	−0.058%	$82K	$27K	10x	as long as short
Paradex NG-USD-PERPlong	+0.0058%	8h	3.0039	long leg	$5K	—	5x
Lighter NATGAS	+0.0096%	1h	3.0042	+0.008%	$618K	$444K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NATGAS	+0.0100%	1h	3.0037	−0.009%	$68K	$33K	10x	as long as short
KuCoin NATGASUSDTM	+0.0100%	4h	3.0030	−0.032%	$1.0M	$1.1M	20x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.131%	$37K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.131%	$3K	$544	10x	as long as short
Phemex NGUSDTshort	+0.0100%	4h	3.0030	−0.032%	$1.5M	$94K	10x
Aster NATGASUSDT	+0.0165%	4h	3.0030	−0.032%	$266K	$73K	50x	as long as short
HTX NATGAS-USDT	+0.0237%	4h	3.0052	+0.042%	$98K	$212K	75x	as long as short
Variational Omni NATGAS	+0.0284%	4h	3.0030	−0.030%	$312K	$443K	—	as long as short
BloFin NG-USDT	+0.0307%	8h	2.9980	−0.198%	$81K	$188K	20x	as long as short
OKX NG-USDT-SWAP	+0.0321%	8h	3.0020	−0.065%	$868K	$1.7M	50x	as long as short
edgeX NATGASUSDC	+0.0349%	4h	3.0030	−0.031%	$85K	$211K	20x	as long as short
Binance NATGASUSDT	+0.0363%	4h	3.0040	+0.002%	$10.2M	$29.0M	100x	as long as short
GRVT NATGAS_USDT_Perp	+0.0396%	4h	3.0023	−0.055%	$12K	$214K	25x	as long as short
Gate NG_USDT	+0.0403%	8h	3.0050	+0.035%	$1.5M	$218K	100x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0419% / S −0.0356%	1h	3.0045	+0.018%	$92K	—	45x	as long as short
Bitget NATGASUSDT	+0.0578%	4h	3.0010	−0.098%	$9.9M	$3.5M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0824%	1h	3.0066	+0.087%	$54K	$37K	20x	as long as short