Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0035%/8h= +3.8% APRpaid last 24h +0.063%

Price spread now: GMX against Gate−0.083%7-day average — · you buy dearer than you sell

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

Long on Gate Short on GMX

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—needs both histories

Funding pays, the price is against you. GMX is 0.083% cheaper against Gate than usual: you would sell low and buy high (spread −0.083% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 7.9 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NG_USDT	3.0060	0.0571	pay 0.0571% / 8h	6m 41s	$1.5M	$197K	100x
Short	GMX NATGAS/USD [ETH-USDC]	3.0035	L +0.0591% / S −0.0606%	get 0.0076% / 1h	6m 41s	$88K	—	45x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Gate. 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 GatebpFee GMXbpOrdersPrice spread, now −0.083%Rate

Funding earned: $7.34
Price spread: −0.083% → 0.000%: −$8.32
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: −$27.98
Costs to cover: 0.270%
Break-even: 33.7 days

Slippage unknown: Gate: live order book, 1 min ago; GMX: 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 Gate live order book, 1 min ago	1.66 bp	20.8 bp −$21	56.9 bp −$569	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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-PERP	−0.0032%	1h	3.0041	−0.063%	$35K	—	20x	as long as short
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8396	−5.536%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0052	−0.027%	$2K	$2.4M	20x	as long as short
HTX NATGAS-USDT	0.0000%	4h	3.0051	−0.030%	$119K	$221K	75x	as long as short
QFEX NATGAS-USD	+0.0004%	1h	3.0040	−0.067%	$659K	$96K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0040	−0.067%	$631K	$495K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0026	−0.112%	$109K	$273K	5x	as long as short
GRVT NATGAS_USDT_Perp	+0.0044%	4h	3.0005	−0.182%	$15K	$222K	25x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0050	−0.033%	—	$14K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	3.0033	−0.090%	$6.0M	$5.3M	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	+0.0050%	1h	3.0003	−0.190%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0051%	8h	3.0043	−0.055%	$5K	—	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0014	−0.153%	$69K	$32K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.200%	$37K	$215K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.200%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0030	−0.100%	$1.5M	$90K	10x	as long as short
KuCoin NATGASUSDTM	+0.0140%	4h	3.0020	−0.133%	$1.0M	$864K	20x	as long as short
Aster NATGASUSDT	+0.0149%	4h	3.0040	−0.067%	$264K	$69K	50x	as long as short
Variational Omni NATGAS	+0.0349%	4h	3.0011	−0.162%	$318K	$390K	—	as long as short
Binance NATGASUSDT	+0.0363%	4h	3.0030	−0.100%	$10.4M	$28.6M	100x	as long as short
edgeX NATGASUSDC	+0.0385%	4h	3.0011	−0.162%	$85K	$212K	20x	as long as short
BloFin NG-USDT	+0.0536%	8h	3.0000	−0.200%	$80K	$198K	20x	as long as short
OKX NG-USDT-SWAP	+0.0553%	8h	3.0020	−0.133%	$802K	$1.9M	50x	as long as short
Gate NG_USDTlong	+0.0571%	8h	3.0060	long leg	$1.5M	$197K	100x
GMX NATGAS/USD [ETH-USDC]short	L +0.0591% / S −0.0606%	1h	3.0035	−0.083%	$88K	—	45x
Bitget NATGASUSDT	+0.0826%	4h	3.0010	−0.166%	$9.9M	$3.0M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0861%	1h	3.0055	−0.017%	$56K	$35K	20x	as long as short