Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0108%/8h= −11.8% APRpaid last 24h −0.063%

Price spread now: Hotstuff against KuCoin+0.053%7-day average — · you sell dearer than you buy

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

Long on KuCoin 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 0.053% dearer against KuCoin than usual: you sell high and buy low (spread +0.053% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin NATGASUSDTM	3.0060	0.0316	pay 0.0158% / 4h	2h 07m	$1.0M	$945K	20x
Short	Hotstuff NATGAS-PERP	3.0076	0.0208	get 0.0026% / 1h	7m 19s	$35K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against KuCoin. 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 KuCoinbpFee HotstuffbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$22.68
Price spread: +0.053% → 0.000%: $5.32
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$34.36
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 2 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 KuCoin live order book, 2 min ago	1.66 bp	16.1 bp −$16	doesn't fit	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 26 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
SunX NATGAS-USDT	0.0000%	4h	3.0092	+0.106%	$2K	$2.4M	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0077	+0.057%	$629K	$504K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0068	+0.027%	$110K	$333K	5x	as long as short
QFEX NATGAS-USD	+0.0033%	1h	3.0070	+0.033%	$660K	$96K	20x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0070	+0.033%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0049	−0.037%	$83K	$26K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0056%	1h	3.0074	+0.047%	$6.0M	$5.5M	10x	as long as short
Paradex NG-USD-PERP	+0.0063%	8h	3.0087	+0.090%	$5K	—	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0068	+0.027%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.200%	$37K	$218K	50x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.200%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0070	+0.033%	$1.5M	$93K	10x	as long as short
HTX NATGAS-USDT	+0.0122%	4h	3.0080	+0.067%	$107K	$211K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0170%	4h	3.0052	−0.026%	$13K	$212K	25x	as long as short
Hotstuff NATGAS-PERPshort	+0.0208%	1h	3.0076	+0.053%	$35K	—	20x
KuCoin NATGASUSDTMlong	+0.0316%	4h	3.0060	long leg	$1.0M	$945K	20x
Aster NATGASUSDT	+0.0338%	4h	3.0097	+0.122%	$265K	$75K	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0529% / S −0.0530%	1h	3.0075	+0.050%	$88K	—	45x	as long as short
Variational Omni NATGAS	+0.0561%	4h	3.0060	−0.001%	$317K	$432K	—	as long as short
Binance NATGASUSDT	+0.0577%	4h	3.0070	+0.033%	$10.3M	$28.5M	100x	as long as short
edgeX NATGASUSDC	+0.0592%	4h	3.0060	−0.001%	$85K	$212K	20x	as long as short
Gate NG_USDT	+0.0615%	8h	3.0100	+0.133%	$1.5M	$196K	100x	as long as short
BloFin NG-USDT	+0.0644%	8h	3.0060	0.000%	$81K	$195K	20x	as long as short
OKX NG-USDT-SWAP	+0.0652%	8h	3.0080	+0.067%	$868K	$1.7M	50x	as long as short
Bitget NATGASUSDT	+0.0982%	4h	3.0040	−0.067%	$9.9M	$3.2M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1180%	1h	3.0093	+0.110%	$56K	$35K	20x	as long as short