Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0206%/8h= −22.5% APRpaid last 24h −0.005%

Price spread now: Aster against BloFin+0.187%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$770.766% of the position

Long on BloFin Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.265%−$27 on $10k

Price spread, last 4 days (all we have)−0.185%−$18 · spread now +0.187%, 7d avg +0.050%

Together, before fees−0.450%+ Points / potential airdropAster: Stage 5 · farm board−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.137% dearer against BloFin than usual: you sell high and buy low (spread +0.187% now, against its 7-day average of +0.050%): +$14 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin NG-USDT	2.9990	0.0580	pay 0.0580% / 8h	3h 40m	$81K	$191K	20x
Short	Aster NATGASUSDT	3.0046	0.0374	get 0.0187% / 4h	3h 40m	$264K	$74K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against BloFin. 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 BloFinbpFee AsterbpOrdersPrice spread, now +0.187%Rate

Funding earned: −$43.2
Price spread: +0.187% → +0.050%: $13.75
Slippage, 4 orders: −$56.56
Fee BloFin: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$106.01
Costs to cover: 0.766%
Break-even: never at this rate

Slippage from BloFin: live order book, 49 min ago; Aster: live order book, 11 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 BloFin live order book, 49 min ago	1.66 bp	7.7 bp −$8	14.8 bp −$148	75.2 bp −$7,521	doesn't fit
Sell Aster live order book, 11 min ago	6.65 bp	16.9 bp −$17	18.8 bp −$188	doesn't fit	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	2.8414	−5.255%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0031	+0.137%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0009%	1h	3.0020	+0.100%	$669K	$91K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0014	+0.080%	$626K	$501K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0008	+0.061%	$110K	$395K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0010	+0.067%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9999	+0.030%	$82K	$26K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0057%	1h	3.0009	+0.063%	$6.0M	$5.7M	10x	as long as short
Hotstuff NATGAS-PERP	+0.0072%	1h	3.0002	+0.040%	$35K	—	20x	as long as short
Paradex NG-USD-PERP	+0.0075%	8h	3.0027	+0.125%	$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	2.9985	−0.017%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	+0.033%	$37K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	+0.033%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0020	+0.100%	$1.5M	$93K	10x	as long as short
KuCoin NATGASUSDTM	+0.0326%	4h	3.0010	+0.067%	$1.0M	$1.0M	20x	as long as short
Aster NATGASUSDTshort	+0.0374%	4h	3.0046	+0.187%	$264K	$74K	50x
HTX NATGAS-USDT	+0.0403%	4h	3.0054	+0.213%	$107K	$214K	75x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0472% / S −0.0414%	1h	3.0025	+0.117%	$92K	—	45x	as long as short
Gate NG_USDT	+0.0531%	8h	3.0050	+0.200%	$1.5M	$192K	100x	as long as short
OKX NG-USDT-SWAP	+0.0557%	8h	3.0010	+0.067%	$861K	$1.7M	50x	as long as short
Variational Omni NATGAS	+0.0576%	4h	3.0020	+0.099%	$316K	$449K	—	as long as short
BloFin NG-USDTlong	+0.0580%	8h	2.9990	long leg	$81K	$191K	20x
GRVT NATGAS_USDT_Perp	+0.0596%	4h	3.0017	+0.090%	$12K	$230K	25x	as long as short
Binance NATGASUSDT	+0.0598%	4h	3.0022	+0.108%	$10.2M	$28.4M	100x	as long as short
edgeX NATGASUSDC	+0.0617%	4h	3.0012	+0.074%	$85K	$211K	20x	as long as short
Kraken Futures PF_NATGASUSD	+0.0856%	1h	3.0040	+0.167%	$56K	$35K	20x	as long as short
Bitget NATGASUSDT	+0.0978%	4h	2.9990	0.000%	$9.9M	$3.2M	100x	as long as short