Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0053%/8h= −5.8% APRpaid last 24h −0.016%

Price spread now: SunX against Paradex+0.056%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 SunX

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

The price spread pays, funding is against you. SunX is 0.056% dearer against Paradex than usual: you sell high and buy low (spread +0.056% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex NG-USD-PERP	3.0055	0.0053	pay 0.0053% / 8h	55m 59s	$5K	—	5x
Short	SunX NATGAS-USDT	3.0072	0	get 0.0000% / 4h	55m 59s	$2K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.056%Rate

Funding earned: −$11.03
Price spread: +0.056% → 0.000%: $5.59
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee SunX: 4 bp × 2 orders: −$8
Net: −$17.44
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; SunX: live order book, 11 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 SunX live order book, 11 min ago	15.13 bp	28.1 bp −$28	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 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-USDTshort	0.0000%	4h	3.0072	+0.056%	$2K	$2.4M	20x
QFEX NATGAS-USD	+0.0004%	1h	3.0040	−0.051%	$659K	$96K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0042	−0.044%	$629K	$487K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0032	−0.077%	$111K	$283K	5x	as long as short
HTX NATGAS-USDT	+0.0042%	4h	3.0054	−0.004%	$117K	$218K	75x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0050	−0.017%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0059	+0.013%	$83K	$26K	10x	as long as short
Paradex NG-USD-PERPlong	+0.0053%	8h	3.0055	long leg	$5K	—	5x
tradeXYZ xyz:NATGAS	+0.0063%	1h	3.0042	−0.044%	$6.0M	$5.3M	10x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0040	−0.051%	$68K	$30K	10x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.184%	$37K	$216K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.184%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0040	−0.051%	$1.5M	$92K	10x	as long as short
GRVT NATGAS_USDT_Perp	+0.0132%	4h	3.0054	−0.005%	$15K	$222K	25x	as long as short
KuCoin NATGASUSDTM	+0.0204%	4h	3.0040	−0.051%	$1.0M	$896K	20x	as long as short
Hotstuff NATGAS-PERP	+0.0216%	1h	3.0059	+0.013%	$35K	—	20x	as long as short
Aster NATGASUSDT	+0.0246%	4h	3.0065	+0.032%	$265K	$65K	50x	as long as short
Variational Omni NATGAS	+0.0472%	4h	3.0060	+0.015%	$318K	$393K	—	as long as short
Binance NATGASUSDT	+0.0489%	4h	3.0046	−0.030%	$10.3M	$28.5M	100x	as long as short
edgeX NATGASUSDC	+0.0510%	4h	3.0070	+0.050%	$85K	$213K	20x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0570% / S −0.0580%	1h	3.0055	−0.001%	$88K	—	45x	as long as short
Gate NG_USDT	+0.0583%	8h	3.0070	+0.049%	$1.5M	$195K	100x	as long as short
BloFin NG-USDT	+0.0647%	8h	3.0040	−0.051%	$83K	$198K	20x	as long as short
OKX NG-USDT-SWAP	+0.0655%	8h	3.0050	−0.017%	$876K	$1.7M	50x	as long as short
Kraken Futures PF_NATGASUSD	+0.0861%	1h	3.0066	+0.036%	$56K	$36K	20x	as long as short
Bitget NATGASUSDT	+0.0912%	4h	3.0020	−0.117%	$9.9M	$3.1M	100x	as long as short