Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0685%/8h= −75.0% APRpaid last 24h −0.081%

Price spread now: Pacifica against Variational Omni−0.022%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · Pacifica: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Pacifica is 0.022% cheaper against Variational Omni than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NATGAS	2.9934	0.0785	pay 0.0392% / 4h	2h 22m	$310K	$491K	—
Short	Pacifica NATGAS	2.9927	0.0100	get 0.0013% / 1h	22m 11s	$68K	$34K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Variational Omni. 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 Variational OmnibpFee PacificabpOrdersPrice spread, now −0.022%Rate

Funding earned: −$143.79
Price spread: −0.022% → 0.000%: −$2.2
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$153.99
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Pacifica: 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 Variational Omni RFQ quote, 2 min ago	4.49 bp	doesn't fit	19.9 bp −$199	doesn't fit	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

Pacifica: 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 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	2.9942	+0.027%	$2K	$2.6M	20x	as long as short
QFEX NATGAS-USD	+0.0024%	1h	2.9920	−0.047%	$657K	$120K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9941	+0.024%	$618K	$412K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.8310	−5.425%	—	$378	10x	as long as short
Pacifica NATGASshort	+0.0100%	1h	2.9927	−0.022%	$68K	$34K	10x
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.113%	$36K	$214K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	2.9900	−0.113%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9930	−0.013%	$1.5M	$104K	10x	as long as short
Paradex NG-USD-PERP	+0.0204%	8h	2.9944	+0.035%	$5K	—	5x	as long as short
Gate NG_USDT	+0.0305%	8h	2.9950	+0.054%	$1.5M	$384K	100x	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	+0.0392%	1h	2.9908	−0.087%	$112K	$1.2M	5x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0415% / S −0.0333%	1h	2.9925	−0.030%	$93K	—	25x	as long as short
Hotstuff NATGAS-PERP	+0.0432%	1h	2.9947	+0.044%	$35K	—	20x	as long as short
BloFin NG-USDT	+0.0442%	8h	2.9920	−0.047%	$84K	$190K	20x	as long as short
OKX NG-USDT-SWAP	+0.0462%	8h	2.9920	−0.047%	$896K	$1.9M	50x	as long as short
Ondo Perps NATGAS-USD.P	+0.0466%	1h	2.9931	−0.010%	$84K	$69K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0528%	1h	2.9938	+0.014%	$5.9M	$6.8M	10x	as long as short
KuCoin NATGASUSDTM	+0.0544%	4h	2.9910	−0.080%	$1.0M	$1.2M	20x	as long as short
HTX NATGAS-USDT	+0.0597%	4h	2.9946	+0.040%	$98K	$220K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0668%	4h	2.9930	−0.013%	$13K	$255K	25x	as long as short
Aster NATGASUSDT	+0.0773%	4h	2.9940	+0.020%	$265K	$104K	50x	as long as short
Variational Omni NATGASlong	+0.0785%	4h	2.9934	long leg	$310K	$491K	—
edgeX NATGASUSDC	+0.0834%	4h	2.9944	+0.033%	$85K	$212K	20x	as long as short
Binance NATGASUSDT	+0.0848%	4h	2.9926	−0.026%	$10.1M	$33.4M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1129%	1h	2.9943	+0.031%	$52K	$55K	20x	as long as short
Bitget NATGASUSDT	+0.1174%	4h	2.9910	−0.080%	$9.9M	$4.4M	100x	as long as short