Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0336%/8h= −36.7% APRpaid last 24h −0.051%

Price spread now: Ondo Perps against KuCoin+0.093%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 Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

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

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

The price spread pays, funding is against you. Ondo Perps is 0.093% dearer against KuCoin than usual: you sell high and buy low (spread +0.093% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 22 hours. At the pace of the last 7 days (−0.039% in total) that is about 17 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.039% in total (about -2.1% 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	KuCoin NATGASUSDTM	3.0000	0.0386	pay 0.0193% / 4h	1h 00m	$1.1M	$1.1M	20x
Short	Ondo Perps NATGAS-USD.P	3.0028	0.0050	get 0.0006% / 1h	0m 51s	$82K	$26K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now +0.093%Rate

Funding earned: −$70.48
Price spread: +0.093% → 0.000%: $9.33
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$78.14
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 4 min ago; Ondo Perps: 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, 4 min ago	1.67 bp	17.6 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	2.8425	−5.250%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0032	+0.107%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0019%	1h	3.0000	0.000%	$658K	$85K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9998	−0.007%	$618K	$495K	10x	as long as short
Hotstuff NATGAS-PERP	+0.0032%	1h	3.0008	+0.027%	$35K	—	20x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0010	+0.033%	—	$378	10x	as long as short
Ondo Perps NATGAS-USD.Pshort	+0.0050%	1h	3.0028	+0.093%	$82K	$26K	10x
Paradex NG-USD-PERP	+0.0060%	8h	3.0016	+0.054%	$5K	—	5x	as long as short
tradeXYZ xyz:NATGAS	+0.0093%	1h	3.0008	+0.027%	$6.0M	$5.9M	10x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9978	−0.073%	$68K	$33K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
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	3.0000	0.000%	$1.5M	$95K	10x	as long as short
Extended XNG-USD	+0.0128%	1h	2.9991	−0.029%	$110K	$445K	5x	as long as short
HTX NATGAS-USDT	+0.0239%	4h	3.0030	+0.100%	$105K	$216K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0382%	4h	3.0002	+0.008%	$25K	$227K	25x	as long as short
KuCoin NATGASUSDTMlong	+0.0386%	4h	3.0000	long leg	$1.1M	$1.1M	20x
Aster NATGASUSDT	+0.0409%	4h	3.0001	+0.003%	$265K	$73K	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0442% / S −0.0381%	1h	3.0015	+0.050%	$92K	—	45x	as long as short
Gate NG_USDT	+0.0459%	8h	3.0040	+0.133%	$1.5M	$211K	100x	as long as short
OKX NG-USDT-SWAP	+0.0479%	8h	3.0000	0.000%	$853K	$1.7M	50x	as long as short
BloFin NG-USDT	+0.0481%	8h	3.0000	0.000%	$80K	$188K	20x	as long as short
Variational Omni NATGAS	+0.0595%	4h	3.0009	+0.029%	$311K	$444K	—	as long as short
edgeX NATGASUSDC	+0.0617%	4h	2.9999	−0.003%	$85K	$213K	20x	as long as short
Binance NATGASUSDT	+0.0622%	4h	3.0015	+0.050%	$10.2M	$28.9M	100x	as long as short
Bitget NATGASUSDT	+0.0994%	4h	2.9980	−0.067%	$9.9M	$3.4M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1109%	1h	3.0025	+0.085%	$53K	$34K	20x	as long as short