Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0305%/8h= +33.4% APRpaid last 24h +0.095%

Price spread now: Variational Omni against Paradex−0.021%53s7-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 Variational Omni

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 · Variational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.021% cheaper against Paradex than usual: you would sell low and buy high (spread −0.021% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 6 hours of funding at the current rate (+$9 a day). The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex NG-USD-PERP	3.0027	0.0051	pay 0.0051% / 8h	13m 46s	$5K	—	5x
Short	Variational Omni NATGAS	3.0020	0.0356	get 0.0178% / 4h	13m 46s	$318K	$390K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.021%Rate

Funding earned: $63.97
Price spread: −0.021% → 0.000%: −$2.12
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $57.85
Costs to cover: 0.040%
Break-even: 0.7 days

Slippage unknown: Paradex: no order-book sample; Variational Omni: RFQ quote, 25 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 Variational Omni RFQ quote, 25 min ago	4.49 bp	doesn't fit	6.1 bp −$61	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
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8379	−5.487%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0031	+0.014%	$2K	$2.4M	20x	as long as short
HTX NATGAS-USDT	0.0000%	4h	3.0026	−0.002%	$117K	$216K	75x	as long as short
QFEX NATGAS-USD	+0.0004%	1h	3.0010	−0.056%	$659K	$96K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0022	−0.016%	$630K	$495K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0006	−0.068%	$109K	$275K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0030	+0.011%	—	$14K	10x	as long as short
Hotstuff NATGAS-PERP	+0.0048%	1h	3.0019	−0.026%	$35K	—	20x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	3.0012	−0.049%	$6.0M	$5.3M	10x	as long as short
GRVT NATGAS_USDT_Perp	+0.0050%	4h	3.0026	−0.004%	$15K	$222K	25x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0058	+0.104%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERPlong	+0.0051%	8h	3.0027	long leg	$5K	—	5x
Pacifica NATGAS	+0.0100%	1h	3.0007	−0.066%	$69K	$32K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.089%	$37K	$216K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.089%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0020	−0.022%	$1.5M	$90K	10x	as long as short
KuCoin NATGASUSDTM	+0.0148%	4h	3.0000	−0.089%	$1.0M	$871K	20x	as long as short
Aster NATGASUSDT	+0.0163%	4h	3.0040	+0.044%	$264K	$69K	50x	as long as short
Variational Omni NATGASshort	+0.0356%	4h	3.0020	−0.021%	$318K	$390K	—
Binance NATGASUSDT	+0.0379%	4h	3.0010	−0.056%	$10.4M	$28.6M	100x	as long as short
edgeX NATGASUSDC	+0.0401%	4h	3.0011	−0.052%	$85K	$213K	20x	as long as short
BloFin NG-USDT	+0.0559%	8h	2.9990	−0.122%	$81K	$197K	20x	as long as short
OKX NG-USDT-SWAP	+0.0568%	8h	3.0000	−0.089%	$811K	$1.8M	50x	as long as short
Gate NG_USDT	+0.0576%	8h	3.0040	+0.044%	$1.5M	$196K	100x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0587% / S −0.0601%	1h	3.0035	+0.028%	$88K	—	45x	as long as short
Bitget NATGASUSDT	+0.0836%	4h	2.9980	−0.156%	$9.9M	$3.0M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0862%	1h	3.0032	+0.018%	$55K	$35K	20x	as long as short