Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0477%/8h= +52.2% APRpaid last 24h +0.065%

Price spread now: BloFin against tradeXYZ+0.037%88s7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.378% of the position

Long on tradeXYZ Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.302%+$30 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now +0.037%, 7d avg +0.004%

Together, before fees+0.284%+ Points / potential airdroptradeXYZ: Active · farm board+$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and BloFin is 0.032% dearer against tradeXYZ than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.004%. The two prices were read 88 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.302% in total (about 15.7% 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	tradeXYZ xyz:NATGAS	3.0009	0.0061	pay 0.0008% / 1h	37m 29s	$6.0M	$5.7M	10x
Short	BloFin NG-USDT	3.0020	0.0538	get 0.0538% / 8h	3h 37m	$81K	$193K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against tradeXYZ. 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 tradeXYZbpFee BloFinbpOrdersPrice spread, now +0.037%Rate

Funding earned: $100.18
Price spread: +0.037% → +0.004%: $3.24
Slippage, 4 orders: −$7.79
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee BloFin: 6 bp × 2 orders: −$12
Net: $65.63
Costs to cover: 0.378%
Break-even: 2.4 days

Slippage from tradeXYZ: live order book, 11 min ago; BloFin: live order book, 53 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 tradeXYZ live order book, 11 min ago	0.17 bp	9.2 bp −$9	13.7 bp −$137	doesn't fit	doesn't fit
Sell BloFin live order book, 53 min ago	1.66 bp	10.2 bp −$10	16.0 bp −$160	71.3 bp −$7,129	doesn't fit

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	2.8405	−5.345%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0041	+0.107%	$2K	$2.4M	20x	as long as short
Hotstuff NATGAS-PERP	+0.0008%	1h	3.0009	0.000%	$35K	—	20x	as long as short
QFEX NATGAS-USD	+0.0009%	1h	3.0020	+0.037%	$669K	$91K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0003	−0.020%	$626K	$501K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	2.9998	−0.038%	$110K	$391K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0010	+0.003%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9999	−0.033%	$82K	$26K	10x	as long as short
tradeXYZ xyz:NATGASlong	+0.0061%	1h	3.0009	long leg	$6.0M	$5.7M	10x
Paradex NG-USD-PERP	+0.0073%	8h	3.0024	+0.048%	$5K	—	5x	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	2.9991	−0.060%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.030%	$37K	$218K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.030%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0020	+0.037%	$1.5M	$93K	10x	as long as short
KuCoin NATGASUSDTM	+0.0328%	4h	3.0010	+0.003%	$1.0M	$1.0M	20x	as long as short
Aster NATGASUSDT	+0.0376%	4h	3.0039	+0.100%	$263K	$74K	50x	as long as short
HTX NATGAS-USDT	+0.0390%	4h	3.0054	+0.150%	$107K	$213K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0444%	4h	3.0019	+0.035%	$12K	$230K	25x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0472% / S −0.0414%	1h	3.0025	+0.053%	$92K	—	45x	as long as short
Gate NG_USDT	+0.0531%	8h	3.0050	+0.137%	$1.5M	$192K	100x	as long as short
BloFin NG-USDTshort	+0.0538%	8h	3.0020	+0.037%	$81K	$193K	20x
OKX NG-USDT-SWAP	+0.0559%	8h	3.0010	+0.003%	$862K	$1.7M	50x	as long as short
Variational Omni NATGAS	+0.0576%	4h	3.0020	+0.036%	$316K	$449K	—	as long as short
edgeX NATGASUSDC	+0.0598%	4h	3.0012	+0.011%	$85K	$212K	20x	as long as short
Binance NATGASUSDT	+0.0598%	4h	3.0026	+0.058%	$10.2M	$28.4M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0856%	1h	3.0038	+0.095%	$56K	$35K	20x	as long as short
Bitget NATGASUSDT	+0.0978%	4h	2.9990	−0.063%	$9.9M	$3.2M	100x	as long as short