Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against Phemex−0.027%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.086%+$9 on $10k

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

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.027% cheaper against Phemex than usual: you would sell low and buy high, −$3 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NGUSDT	2.9950	0.0100	pay 0.0050% / 4h	2h 00m	$1.5M	$104K	10x
Short	Pacifica NATGAS	2.9942	0.0100	get 0.0013% / 1h	0m 35s	$68K	$34K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Phemex. 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 PhemexbpFee PacificabpOrdersPrice spread, now −0.027%Rate

Funding earned: $0
Price spread: −0.027% → 0.000%: −$2.71
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$22.71
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 2 min ago; Pacifica: 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 Phemex live order book, 2 min ago	1.67 bp	32.3 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

Pacifica: 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-USDT	0.0000%	4h	2.9961	+0.037%	$2K	$2.6M	20x	as long as short
QFEX NATGAS-USD	+0.0024%	1h	2.9930	−0.067%	$656K	$120K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9950	0.000%	$618K	$412K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.8310	−5.476%	—	$378	10x	as long as short
Pacifica NATGASshort	+0.0100%	1h	2.9942	−0.027%	$68K	$34K	10x
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.167%	$36K	$215K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	2.9900	−0.167%	$3K	$544	10x	as long as short
Phemex NGUSDTlong	+0.0100%	4h	2.9950	long leg	$1.5M	$104K	10x
Paradex NG-USD-PERP	+0.0224%	8h	2.9971	+0.070%	$5K	—	5x	as long as short
Gate NG_USDT	+0.0230%	8h	2.9960	+0.033%	$1.5M	$385K	100x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XNG-USD	+0.0336%	1h	2.9924	−0.087%	$113K	$1.2M	5x	as long as short
Hotstuff NATGAS-PERP	+0.0384%	1h	2.9955	+0.017%	$35K	—	20x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0416% / S −0.0333%	1h	2.9945	−0.017%	$93K	—	25x	as long as short
BloFin NG-USDT	+0.0448%	8h	2.9910	−0.134%	$84K	$190K	20x	as long as short
OKX NG-USDT-SWAP	+0.0450%	8h	2.9920	−0.100%	$895K	$1.8M	50x	as long as short
tradeXYZ xyz:NATGAS	+0.0459%	1h	2.9952	+0.007%	$5.9M	$6.8M	10x	as long as short
KuCoin NATGASUSDTM	+0.0490%	4h	2.9910	−0.134%	$1.0M	$1.3M	20x	as long as short
Ondo Perps NATGAS-USD.P	+0.0510%	1h	2.9929	−0.070%	$84K	$66K	10x	as long as short
HTX NATGAS-USDT	+0.0776%	4h	2.9965	+0.050%	$98K	$219K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0852%	4h	2.9940	−0.033%	$13K	$255K	25x	as long as short
Variational Omni NATGAS	+0.0853%	4h	2.9944	−0.021%	$310K	$491K	—	as long as short
Aster NATGASUSDT	+0.0863%	4h	2.9940	−0.033%	$265K	$105K	50x	as long as short
Binance NATGASUSDT	+0.0928%	4h	2.9940	−0.033%	$10.1M	$33.1M	100x	as long as short
edgeX NATGASUSDC	+0.0930%	4h	2.9944	−0.021%	$85K	$213K	20x	as long as short
Kraken Futures PF_NATGASUSD	+0.1128%	1h	2.9967	+0.055%	$52K	$55K	20x	as long as short
Bitget NATGASUSDT	+0.1184%	4h	2.9910	−0.134%	$9.9M	$4.3M	100x	as long as short