Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0553%/8h= −60.6% APRpaid last 24h −0.076%

Price spread now: Hotstuff against BloFin+0.027%7-day average — · you sell dearer than you buy

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

Long on BloFin Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

The price spread pays, funding is against you. Hotstuff is 0.027% dearer against BloFin than usual: you sell high and buy low (spread +0.027% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 4 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin NG-USDT	3.0000	0.0473	pay 0.0473% / 8h	7h 20m	$76K	$197K	20x
Short	Hotstuff NATGAS-PERP	3.0008	−0.0080	pay 0.0010% / 1h	20m 26s	$35K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$116.19
Price spread: +0.027% → 0.000%: $2.67
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$130.52
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 45 min ago; Hotstuff: 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 BloFin live order book, 45 min ago	1.67 bp	15.8 bp −$16	22.4 bp −$224	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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
Hotstuff NATGAS-PERPshort	−0.0080%	1h	3.0008	+0.027%	$35K	—	20x
QFEX NATGAS-USD	0.0000%	1h	3.0010	+0.033%	$658K	$96K	20x	as long as short
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8375	−5.417%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0042	+0.140%	$2K	$2.2M	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0011	+0.037%	$631K	$483K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	2.9996	−0.013%	$109K	$253K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0010	+0.033%	—	$14K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	3.0003	+0.010%	$6.0M	$5.2M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0039	+0.130%	$84K	$29K	10x	as long as short
Paradex NG-USD-PERP	+0.0070%	8h	3.0039	+0.129%	$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	2.9993	−0.023%	$69K	$30K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	0.000%	$37K	$214K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	0.000%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0030	+0.100%	$1.5M	$91K	10x	as long as short
KuCoin NATGASUSDTM	+0.0166%	4h	3.0000	0.000%	$1.0M	$837K	20x	as long as short
Gate NG_USDT	+0.0203%	8h	3.0040	+0.133%	$1.5M	$193K	100x	as long as short
Aster NATGASUSDT	+0.0216%	4h	3.0030	+0.100%	$264K	$69K	50x	as long as short
HTX NATGAS-USDT	+0.0269%	4h	3.0040	+0.133%	$118K	$221K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0386%	4h	3.0013	+0.044%	$20K	$213K	25x	as long as short
Variational Omni NATGAS	+0.0389%	4h	3.0021	+0.069%	$347K	$420K	—	as long as short
edgeX NATGASUSDC	+0.0404%	4h	3.0024	+0.079%	$85K	$212K	20x	as long as short
Binance NATGASUSDT	+0.0408%	4h	3.0020	+0.067%	$10.4M	$29.0M	100x	as long as short
BloFin NG-USDTlong	+0.0473%	8h	3.0000	long leg	$76K	$197K	20x
OKX NG-USDT-SWAP	+0.0501%	8h	3.0010	+0.033%	$802K	$1.9M	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0587% / S −0.0602%	1h	3.0025	+0.083%	$88K	—	45x	as long as short
Kraken Futures PF_NATGASUSD	+0.0685%	1h	3.0008	+0.025%	$53K	$37K	20x	as long as short
Bitget NATGASUSDT	+0.0872%	4h	2.9990	−0.033%	$9.9M	$2.9M	100x	as long as short