Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0620%/8h= +67.9% APRpaid last 24h +0.071%

Price spread now: OKX against Hotstuff−0.106%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on OKX

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

Funding pays, the price is against you. OKX is 0.106% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.106% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 14 hours of funding at the current rate (+$19 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff NATGAS-PERP	3.0082	0.0032	pay 0.0004% / 1h	8m 30s	$35K	—	20x
Short	OKX NG-USDT-SWAP	3.0050	0.0652	get 0.0652% / 8h	2h 08m	$867K	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Hotstuff. 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 HotstuffbpFee OKXbpOrdersPrice spread, now −0.106%Rate

Funding earned: $130.16
Price spread: −0.106% → 0.000%: −$10.64
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: $104.52
Costs to cover: 0.150%
Break-even: 1.4 days

Slippage unknown: Hotstuff: no order-book sample; OKX: live order book, 3 min ago. 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 Hotstuff no order-book sample	—	—	—	—	—
Sell OKX live order book, 3 min ago	1.66 bp	9.3 bp −$9	16.6 bp −$166	doesn't fit	doesn't fit

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
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8465	−5.375%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0082	0.000%	$2K	$2.4M	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0078	−0.013%	$629K	$504K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0072	−0.033%	$110K	$333K	5x	as long as short
Hotstuff NATGAS-PERPlong	+0.0032%	1h	3.0082	long leg	$35K	—	20x
QFEX NATGAS-USD	+0.0033%	1h	3.0070	−0.040%	$660K	$96K	20x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0080	−0.007%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0049	−0.110%	$83K	$26K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0058%	1h	3.0076	−0.020%	$6.0M	$5.5M	10x	as long as short
Paradex NG-USD-PERP	+0.0063%	8h	3.0093	+0.036%	$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	3.0076	−0.020%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.273%	$37K	$218K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.273%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0070	−0.040%	$1.5M	$93K	10x	as long as short
HTX NATGAS-USDT	+0.0135%	4h	3.0081	−0.003%	$107K	$212K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0170%	4h	3.0052	−0.099%	$13K	$212K	25x	as long as short
KuCoin NATGASUSDTM	+0.0316%	4h	3.0060	−0.073%	$1.0M	$945K	20x	as long as short
Aster NATGASUSDT	+0.0338%	4h	3.0100	+0.060%	$265K	$75K	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0528% / S −0.0528%	1h	3.0065	−0.057%	$88K	—	45x	as long as short
Variational Omni NATGAS	+0.0561%	4h	3.0060	−0.074%	$317K	$432K	—	as long as short
Binance NATGASUSDT	+0.0580%	4h	3.0080	−0.007%	$10.3M	$28.5M	100x	as long as short
edgeX NATGASUSDC	+0.0592%	4h	3.0060	−0.074%	$85K	$212K	20x	as long as short
Gate NG_USDT	+0.0613%	8h	3.0100	+0.060%	$1.5M	$196K	100x	as long as short
OKX NG-USDT-SWAPshort	+0.0652%	8h	3.0050	−0.106%	$867K	$1.7M	50x
BloFin NG-USDT	+0.0652%	8h	3.0070	−0.040%	$81K	$195K	20x	as long as short
Bitget NATGASUSDT	+0.0986%	4h	3.0040	−0.140%	$9.9M	$3.2M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1181%	1h	3.0083	+0.004%	$56K	$35K	20x	as long as short