Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

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

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

Long on SunX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Orderly is 0.070% cheaper against SunX than usual: you would sell low and buy high (spread −0.070% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.3 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NATGAS-USDT	3.0021	0	get 0.0000% / 4h	1h 06m	$2K	$2.4M	20x
Short	Orderly PERP_NATGAS_USDC_mythos	3.0000	0.0100	get 0.0100% / 8h	5h 06m	$3K	$544	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.070%Rate

Funding earned: $21
Price spread: −0.070% → 0.000%: −$7
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: $0
Costs to cover: 0.140%
Break-even: 7.0 days

Slippage unknown: SunX: live order book, 11 min ago; Orderly: 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 SunX live order book, 11 min ago	14.98 bp	19.4 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	2.8435	−5.283%	—	—	—	as long as short
SunX NATGAS-USDTlong	0.0000%	4h	3.0021	long leg	$2K	$2.4M	20x
QFEX NATGAS-USD	+0.0019%	1h	2.9990	−0.103%	$658K	$85K	20x	as long as short
Hotstuff NATGAS-PERP	+0.0024%	1h	3.0002	−0.063%	$35K	—	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0003	−0.060%	$618K	$494K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9990	−0.103%	—	$378	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9990	−0.103%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0061%	8h	3.0006	−0.049%	$5K	—	5x	as long as short
tradeXYZ xyz:NATGAS	+0.0090%	1h	3.0002	−0.063%	$6.0M	$5.9M	10x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9978	−0.143%	$68K	$33K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.070%	$37K	$215K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythosshort	+0.0100%	8h	3.0000	−0.070%	$3K	$544	10x
Phemex NGUSDT	+0.0100%	4h	3.0000	−0.070%	$1.5M	$95K	10x	as long as short
Extended XNG-USD	+0.0136%	1h	2.9987	−0.113%	$110K	$445K	5x	as long as short
HTX NATGAS-USDT	+0.0243%	4h	3.0021	0.000%	$104K	$216K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0384%	4h	3.0000	−0.070%	$25K	$227K	25x	as long as short
KuCoin NATGASUSDTM	+0.0384%	4h	2.9980	−0.137%	$1.1M	$1.1M	20x	as long as short
Aster NATGASUSDT	+0.0404%	4h	2.9998	−0.076%	$265K	$73K	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0438% / S −0.0377%	1h	3.0005	−0.053%	$92K	—	45x	as long as short
Gate NG_USDT	+0.0459%	8h	3.0040	+0.063%	$1.5M	$210K	100x	as long as short
OKX NG-USDT-SWAP	+0.0472%	8h	3.0000	−0.070%	$852K	$1.7M	50x	as long as short
BloFin NG-USDT	+0.0489%	8h	2.9990	−0.103%	$80K	$188K	20x	as long as short
Variational Omni NATGAS	+0.0586%	4h	2.9999	−0.073%	$311K	$444K	—	as long as short
Binance NATGASUSDT	+0.0616%	4h	3.0000	−0.070%	$10.2M	$28.9M	100x	as long as short
edgeX NATGASUSDC	+0.0621%	4h	3.0000	−0.070%	$85K	$212K	20x	as long as short
Bitget NATGASUSDT	+0.0988%	4h	2.9960	−0.203%	$9.9M	$3.4M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1110%	1h	3.0016	−0.017%	$53K	$34K	20x	as long as short