Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0045%/8h= −4.9% APRpaid last 24h −0.014%

Price spread now: Paradex against Phemex+0.059%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on Paradex

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. Paradex is 0.059% dearer against Phemex than usual: you sell high and buy low (spread +0.059% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NGUSDT	3.0070	0.0100	pay 0.0050% / 4h	1h 26m	$1.5M	$93K	10x
Short	Paradex NG-USD-PERP	3.0088	0.0055	get 0.0055% / 8h	1h 26m	$5K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$9.44
Price spread: +0.059% → 0.000%: $5.89
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$19.54
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 2 min ago; Paradex: 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	1.66 bp	33.8 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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	2.8461	−5.351%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0092	+0.073%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0002%	1h	3.0070	0.000%	$660K	$96K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0079	+0.030%	$630K	$502K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0068	−0.007%	$111K	$283K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0070	0.000%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0056	−0.047%	$83K	$26K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0051%	1h	3.0069	−0.003%	$6.0M	$5.5M	10x	as long as short
Paradex NG-USD-PERPshort	+0.0055%	8h	3.0088	+0.059%	$5K	—	5x
HTX NATGAS-USDT	+0.0060%	4h	3.0088	+0.060%	$107K	$204K	75x	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	3.0054	−0.053%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0100	+0.100%	$37K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0100	+0.100%	$3K	$544	10x	as long as short
Phemex NGUSDTlong	+0.0100%	4h	3.0070	long leg	$1.5M	$93K	10x
Hotstuff NATGAS-PERP	+0.0136%	1h	3.0071	+0.003%	$35K	—	20x	as long as short
GRVT NATGAS_USDT_Perp	+0.0152%	4h	3.0064	−0.020%	$22K	$210K	25x	as long as short
KuCoin NATGASUSDTM	+0.0268%	4h	3.0050	−0.067%	$1.0M	$917K	20x	as long as short
Aster NATGASUSDT	+0.0288%	4h	3.0095	+0.083%	$265K	$70K	50x	as long as short
Variational Omni NATGAS	+0.0511%	4h	3.0070	−0.001%	$318K	$432K	—	as long as short
Binance NATGASUSDT	+0.0534%	4h	3.0070	0.000%	$10.3M	$28.6M	100x	as long as short
edgeX NATGASUSDC	+0.0544%	4h	3.0070	−0.001%	$85K	$211K	20x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0552% / S −0.0558%	1h	3.0075	+0.017%	$88K	—	45x	as long as short
Gate NG_USDT	+0.0629%	8h	3.0090	+0.067%	$1.5M	$196K	100x	as long as short
OKX NG-USDT-SWAP	+0.0656%	8h	3.0070	0.000%	$876K	$1.8M	50x	as long as short
BloFin NG-USDT	+0.0680%	8h	3.0070	0.000%	$83K	$198K	20x	as long as short
Bitget NATGASUSDT	+0.0964%	4h	3.0040	−0.100%	$9.9M	$3.1M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0986%	1h	3.0089	+0.062%	$56K	$35K	20x	as long as short