Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0592%/8h= +64.8% APRpaid last 24h +0.090%

Price spread now: Variational Omni against Ondo Perps−0.067%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 Variational Omni

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 · Variational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.067% cheaper against Ondo Perps than usual: you would sell low and buy high (spread −0.067% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 9 hours of funding at the current rate (+$18 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps NATGAS-USD.P	3.0080	0.0050	pay 0.0006% / 1h	4m 38s	$83K	$26K	10x
Short	Variational Omni NATGAS	3.0060	0.0642	get 0.0321% / 4h	3h 04m	$317K	$449K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.067%Rate

Funding earned: $124.25
Price spread: −0.067% → 0.000%: −$6.74
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $112.52
Costs to cover: 0.050%
Break-even: 0.7 days

Slippage unknown: Ondo Perps: no order-book sample; Variational Omni: RFQ quote, 49 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 49 min ago	4.49 bp	doesn't fit	12.6 bp −$126	doesn't fit	doesn't fit

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 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	3.0072	−0.027%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0009%	1h	3.0040	−0.133%	$659K	$96K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0045	−0.116%	$629K	$503K	10x	as long as short
Hotstuff NATGAS-PERP	+0.0032%	1h	3.0047	−0.110%	$35K	—	20x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0050	−0.100%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.Plong	+0.0050%	1h	3.0080	long leg	$83K	$26K	10x
tradeXYZ xyz:NATGAS	+0.0095%	1h	3.0051	−0.096%	$6.0M	$5.6M	10x	as long as short
Paradex NG-USD-PERP	+0.0096%	8h	3.0066	−0.047%	$5K	—	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0040	−0.133%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.266%	$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	−0.266%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0050	−0.100%	$1.5M	$93K	10x	as long as short
Extended XNG-USD	+0.0216%	1h	3.0038	−0.139%	$110K	$364K	5x	as long as short
KuCoin NATGASUSDTM	+0.0364%	4h	3.0040	−0.133%	$1.0M	$982K	20x	as long as short
Aster NATGASUSDT	+0.0432%	4h	3.0060	−0.066%	$264K	$74K	50x	as long as short
GRVT NATGAS_USDT_Perp	+0.0448%	4h	3.0050	−0.100%	$13K	$223K	25x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0497% / S −0.0441%	1h	3.0055	−0.083%	$92K	—	45x	as long as short
HTX NATGAS-USDT	+0.0506%	4h	3.0073	−0.023%	$107K	$212K	75x	as long as short
Gate NG_USDT	+0.0556%	8h	3.0090	+0.033%	$1.5M	$193K	100x	as long as short
BloFin NG-USDT	+0.0603%	8h	3.0060	−0.066%	$81K	$195K	20x	as long as short
OKX NG-USDT-SWAP	+0.0611%	8h	3.0050	−0.100%	$867K	$1.7M	50x	as long as short
Variational Omni NATGASshort	+0.0642%	4h	3.0060	−0.067%	$317K	$449K	—
Binance NATGASUSDT	+0.0665%	4h	3.0050	−0.100%	$10.3M	$28.2M	100x	as long as short
edgeX NATGASUSDC	+0.0676%	4h	3.0070	−0.035%	$85K	$212K	20x	as long as short
Kraken Futures PF_NATGASUSD	+0.0855%	1h	3.0067	−0.044%	$56K	$35K	20x	as long as short
Bitget NATGASUSDT	+0.1038%	4h	3.0020	−0.199%	$9.9M	$3.2M	100x	as long as short