Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0710%/8h= +77.7% APRpaid last 24h +0.121%

Price spread now: edgeX against QFEX+0.025%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$750.751% of the position

Long on QFEX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.143%+$14 on $10k

Price spread, last 3 days (all we have)−0.025%−$2 · spread now +0.025%, 7d avg +0.022%

Together, before fees+0.119%+ Points / potential airdropedgeX: Active · farm board+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.022%, so right now this pair is about funding alone: +$21 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.143% in total (about 15.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX NATGAS-USD	2.9910	0.0160	pay 0.0020% / 1h	45m 10s	$656K	$86K	20x
Short	edgeX NATGASUSDC	2.9917	0.0870	get 0.0435% / 4h	1h 45m	$85K	$213K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against QFEX. 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 QFEXbpFee edgeXbpOrdersPrice spread, now +0.025%Rate

Funding earned: $149.07
Price spread: +0.025% → +0.022%: $0.24
Slippage, 4 orders: −$56.1
Fee QFEX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $74.21
Costs to cover: 0.751%
Break-even: 3.5 days

Slippage from QFEX: live order book, 24 min ago; edgeX: live order book, 37 min ago.

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 QFEX live order book, 24 min ago	3.34 bp	11.7 bp −$12	11.7 bp −$117	doesn't fit	doesn't fit
Sell edgeX live order book, 37 min ago	13.37 bp	24.3 bp −$24	32.7 bp −$327	doesn't fit	doesn't fit

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	2.9931	+0.070%	$2K	$2.6M	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9910	0.000%	$618K	$411K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9920	+0.033%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9904	−0.020%	$5.9M	$6.0M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9935	+0.084%	$84K	$50K	10x	as long as short
Hotstuff NATGAS-PERP	+0.0088%	1h	2.9910	0.000%	$35K	—	20x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9901	−0.031%	$68K	$34K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.033%	$36K	$216K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	2.9900	−0.033%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9910	0.000%	$1.5M	$102K	10x	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	+0.0136%	1h	2.9900	−0.033%	$113K	$1.2M	5x	as long as short
QFEX NATGAS-USDlong	+0.0160%	1h	2.9910	long leg	$656K	$86K	20x
Paradex NG-USD-PERP	+0.0175%	8h	2.9912	+0.005%	$5K	—	5x	as long as short
Gate NG_USDT	+0.0225%	8h	2.9940	+0.100%	$1.5M	$306K	100x	as long as short
BloFin NG-USDT	+0.0392%	8h	2.9880	−0.100%	$84K	$189K	20x	as long as short
OKX NG-USDT-SWAP	+0.0400%	8h	2.9900	−0.033%	$897K	$1.7M	50x	as long as short
KuCoin NATGASUSDTM	+0.0404%	4h	2.9900	−0.033%	$1.0M	$1.2M	20x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0415% / S −0.0333%	1h	2.9915	+0.017%	$93K	—	25x	as long as short
Kraken Futures PF_NATGASUSD	+0.0515%	1h	2.9934	+0.082%	$52K	$49K	20x	as long as short
HTX NATGAS-USDT	+0.0534%	4h	2.9929	+0.064%	$98K	$217K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0692%	4h	2.9915	+0.018%	$13K	$246K	25x	as long as short
Aster NATGASUSDT	+0.0769%	4h	2.9931	+0.070%	$265K	$105K	50x	as long as short
Variational Omni NATGAS	+0.0791%	4h	2.9912	+0.007%	$311K	$446K	—	as long as short
Binance NATGASUSDT	+0.0822%	4h	2.9917	+0.023%	$10.1M	$31.9M	100x	as long as short
edgeX NATGASUSDCshort	+0.0870%	4h	2.9917	+0.025%	$85K	$213K	20x
Bitget NATGASUSDT	+0.1050%	4h	2.9880	−0.100%	$10.0M	$4.0M	100x	as long as short