Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0015%/8h= +1.7% APRpaid last 24h −0.005%

Price spread now: Paradex against Ondo Perps−0.059%7-day average — · you buy dearer than you sell

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

Long on Ondo Perps Short on Paradex

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 airdropOndo Perps: Active · Paradex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.059% cheaper against Ondo Perps than usual: you would sell low and buy high (spread −0.059% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 13 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps NATGAS-USD.P	3.0038	0.0050	pay 0.0006% / 1h	21m 55s	$82K	$26K	10x
Short	Paradex NG-USD-PERP	3.0020	0.0066	get 0.0066% / 8h	5h 21m	$5K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Ondo Perps. 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 Ondo PerpsbpFee ParadexbpOrdersPrice spread, now −0.059%Rate

Funding earned: $3.23
Price spread: −0.059% → 0.000%: −$5.92
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$11.69
Costs to cover: 0.090%
Break-even: 32.4 days

Slippage unknown: Ondo Perps: no order-book sample; Paradex: 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Ondo Perps and Paradex: 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	2.8436	−5.333%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0032	−0.020%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0019%	1h	3.0010	−0.093%	$658K	$85K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0021	−0.057%	$619K	$494K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0020	−0.060%	—	$378	10x	as long as short
Ondo Perps NATGAS-USD.Plong	+0.0050%	1h	3.0038	long leg	$82K	$26K	10x
Paradex NG-USD-PERPshort	+0.0066%	8h	3.0020	−0.059%	$5K	—	5x
tradeXYZ xyz:NATGAS	+0.0092%	1h	3.0005	−0.110%	$6.0M	$5.9M	10x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0016	−0.075%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.127%	$37K	$215K	50x	as long as short

Show all 27 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	−0.127%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0010	−0.093%	$1.5M	$95K	10x	as long as short
Hotstuff NATGAS-PERP	+0.0112%	1h	3.0013	−0.083%	$35K	—	20x	as long as short
Extended XNG-USD	+0.0128%	1h	2.9996	−0.140%	$110K	$444K	5x	as long as short
HTX NATGAS-USDT	+0.0254%	4h	3.0042	+0.013%	$101K	$213K	75x	as long as short
KuCoin NATGASUSDTM	+0.0360%	4h	3.0010	−0.093%	$1.1M	$1.1M	20x	as long as short
Aster NATGASUSDT	+0.0382%	4h	3.0012	−0.087%	$265K	$73K	50x	as long as short
GRVT NATGAS_USDT_Perp	+0.0404%	4h	3.0027	−0.038%	$12K	$214K	25x	as long as short
BloFin NG-USDT	+0.0406%	8h	2.9990	−0.160%	$81K	$188K	20x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0435% / S −0.0373%	1h	3.0015	−0.077%	$92K	—	45x	as long as short
OKX NG-USDT-SWAP	+0.0439%	8h	3.0020	−0.060%	$853K	$1.7M	50x	as long as short
Gate NG_USDT	+0.0451%	8h	3.0060	+0.073%	$1.5M	$209K	100x	as long as short
Variational Omni NATGAS	+0.0547%	4h	3.0019	−0.064%	$311K	$444K	—	as long as short
Binance NATGASUSDT	+0.0595%	4h	3.0010	−0.093%	$10.2M	$28.9M	100x	as long as short
edgeX NATGASUSDC	+0.0598%	4h	3.0019	−0.064%	$85K	$212K	20x	as long as short
Bitget NATGASUSDT	+0.0966%	4h	2.9990	−0.160%	$9.9M	$3.4M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1109%	1h	3.0026	−0.041%	$53K	$34K	20x	as long as short