Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0133%/8h= +14.6% APRpaid last 24h +0.137%

Price spread now: OKX against SunX−0.070%7-day average −0.102% · you buy dearer than you sell

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$700.697% of the position

Long on SunX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.606%+$61 on $10k

Price spread, last 3 days (all we have)−0.044%−$4 · spread now −0.070%, 7d avg −0.102%

Together, before fees+0.562%+$56 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and OKX is 0.032% dearer against SunX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.102%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NATGAS-USDT	2.9971	0	get 0.0000% / 4h	17m 22s	$2K	$2.6M	20x
Short	OKX NG-USDT-SWAP	2.9950	0.0133	get 0.0133% / 8h	17m 22s	$856K	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against SunX. 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 SunXbpFee OKXbpOrdersPrice spread, now −0.070%Rate

Funding earned: $27.92
Price spread: −0.070% → −0.102%: $3.2
Slippage, 4 orders: −$51.68
Fee SunX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$38.56
Costs to cover: 0.697%
Break-even: 16.7 days

Slippage from SunX: live order book, 10 min ago; OKX: live order book, 4 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 SunX live order book, 10 min ago	15.01 bp	19.4 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	1.67 bp	10.4 bp −$10	18.4 bp −$184	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
GRVT NATGAS_USDT_Perp	0.0000%	4h	2.9949	−0.073%	$13K	$238K	25x	as long as short
SunX NATGAS-USDTlong	0.0000%	4h	2.9971	long leg	$2K	$2.6M	20x
HTX NATGAS-USDT	0.0000%	4h	2.9987	+0.053%	$98K	$212K	75x	as long as short
Hotstuff NATGAS-PERP	+0.0008%	1h	2.9948	−0.077%	$35K	—	20x	as long as short
QFEX NATGAS-USD	+0.0030%	1h	2.9950	−0.070%	$657K	$86K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9965	−0.020%	$616K	$419K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9950	−0.070%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9947	−0.080%	$5.9M	$6.0M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9940	−0.103%	$84K	$43K	10x	as long as short
Extended XNG-USD	+0.0056%	1h	2.9938	−0.110%	$110K	$453K	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NATGASUSDT	+0.0066%	4h	2.9960	−0.037%	$265K	$73K	50x	as long as short
Paradex NG-USD-PERP	+0.0066%	8h	2.9951	−0.068%	$5K	—	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9948	−0.077%	$68K	$33K	10x	as long as short
KuCoin NATGASUSDTM	+0.0100%	4h	2.9950	−0.070%	$1.0M	$1.2M	20x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.237%	$36K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	+0.097%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9960	−0.037%	$1.5M	$97K	10x	as long as short
BloFin NG-USDT	+0.0113%	8h	2.9940	−0.103%	$80K	$189K	20x	as long as short
Variational Omni NATGAS	+0.0115%	4h	2.9951	−0.067%	$311K	$443K	—	as long as short
OKX NG-USDT-SWAPshort	+0.0133%	8h	2.9950	−0.070%	$856K	$1.7M	50x
Gate NG_USDT	+0.0173%	8h	2.9980	+0.030%	$1.5M	$285K	100x	as long as short
Binance NATGASUSDT	+0.0192%	4h	2.9950	−0.070%	$10.1M	$30.0M	100x	as long as short
edgeX NATGASUSDC	+0.0230%	4h	2.9951	−0.068%	$85K	$212K	20x	as long as short
Bitget NATGASUSDT	+0.0286%	4h	2.9930	−0.137%	$10.0M	$3.7M	100x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0406% / S −0.0333%	1h	2.9955	−0.053%	$93K	—	45x	as long as short
Kraken Futures PF_NATGASUSD	+0.1217%	1h	2.9970	−0.003%	$52K	$39K	20x	as long as short