Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0417%/8hpaid last 24h −0.069%

Price spread now: Pacifica against edgeX−0.079%52s7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.191%−$19 on $10k

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

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

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Pacifica is 0.079% cheaper against edgeX than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 52 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 -0.191% in total (about -10.0% 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	edgeX NATGASUSDC	2.9855	0.0517	pay 0.0258% / 4h	22m 29s	$85K	$213K	20x
Short	Pacifica NATGAS	2.9831	0.0100	get 0.0013% / 1h	22m 29s	$80K	$22K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against edgeX. 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 edgeXbpFee PacificabpOrdersPrice spread, now −0.079%Rate

Funding earned: −$87.5
Price spread: −0.079% → 0.000%: −$7.9
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$112.41
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 8 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 edgeX live order book, 8 min ago	13.40 bp	36.8 bp −$37	45.0 bp −$450	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 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	2.8254	−5.361%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	2.9871	+0.055%	$2K	$2.6M	20x	as long as short
QFEX NATGAS-USD	+0.0028%	1h	2.9850	−0.015%	$655K	$102K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9851	−0.012%	$616K	$414K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.8270	−5.308%	—	$378	10x	as long as short
Paradex NG-USD-PERP	+0.0086%	8h	2.9859	+0.013%	$5K	—	5x	as long as short
Pacifica NATGASshort	+0.0100%	1h	2.9831	−0.079%	$80K	$22K	10x
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9800	−0.183%	$36K	$210K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	2.9800	−0.183%	$3K	$278	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9850	−0.015%	$1.5M	$98K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps NATGAS-USD.P	+0.0118%	1h	2.9852	−0.009%	$83K	$70K	10x	as long as short
HTX NATGAS-USDT	+0.0149%	4h	2.9871	+0.055%	$97K	$225K	75x	as long as short
Hotstuff NATGAS-PERP	+0.0160%	1h	2.9850	−0.015%	$35K	—	20x	as long as short
tradeXYZ xyz:NATGAS	+0.0207%	1h	2.9851	−0.012%	$5.9M	$6.7M	10x	as long as short
Extended XNG-USD	+0.0224%	1h	2.9836	−0.061%	$112K	$1.3M	5x	as long as short
GRVT NATGAS_USDT_Perp	+0.0274%	4h	2.9850	−0.015%	$21K	$279K	25x	as long as short
KuCoin NATGASUSDTM	+0.0314%	4h	2.9850	−0.015%	$1.0M	$1.2M	20x	as long as short
BloFin NG-USDT	+0.0336%	8h	2.9830	−0.082%	$85K	$189K	20x	as long as short
OKX NG-USDT-SWAP	+0.0347%	8h	2.9840	−0.049%	$892K	$1.8M	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0411% / S −0.0333%	1h	2.9855	+0.001%	$93K	—	45x	as long as short
Gate NG_USDT	+0.0437%	8h	2.9880	+0.085%	$1.5M	$396K	100x	as long as short
Aster NATGASUSDT	+0.0444%	4h	2.9875	+0.069%	$264K	$104K	50x	as long as short
Variational Omni NATGAS	+0.0468%	4h	2.9845	−0.033%	$310K	$493K	—	as long as short
Binance NATGASUSDT	+0.0512%	4h	2.9855	+0.002%	$10.1M	$32.8M	100x	as long as short
edgeX NATGASUSDClong	+0.0517%	4h	2.9855	long leg	$85K	$213K	20x
Kraken Futures PF_NATGASUSD	+0.0829%	1h	2.9871	+0.054%	$52K	$55K	20x	as long as short
Bitget NATGASUSDT	+0.0980%	4h	2.9830	−0.082%	$10.0M	$4.2M	100x	as long as short