Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0272%/8h= +29.8% APRpaid last 24h +0.138%

Price spread now: GMX against Orderly+0.083%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and GMX is 0.083% dearer against Orderly than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_NATGAS_USDC_mythos	3.0000	0.0100	pay 0.0100% / 8h	5h 25m	$3K	$544	10x
Short	GMX NATGAS/USD [ETH-USDC]	3.0025	L +0.0434% / S −0.0372%	get 0.0047% / 1h	25m 18s	$92K	—	45x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Orderly. 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 OrderlybpFee GMXbpOrdersPrice spread, now +0.083%Rate

Funding earned: $57.2
Price spread: +0.083% → 0.000%: $8.33
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $47.54
Costs to cover: 0.180%
Break-even: 1.2 days

Slippage unknown: Orderly: no order-book sample; GMX: 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 Orderly no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Orderly and GMX: 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	3.0041	+0.137%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0019%	1h	3.0010	+0.033%	$659K	$85K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0020	+0.067%	$619K	$494K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0020	+0.067%	—	$378	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0007	+0.023%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0067%	8h	3.0026	+0.087%	$5K	—	5x	as long as short
Hotstuff NATGAS-PERP	+0.0096%	1h	3.0015	+0.050%	$35K	—	20x	as long as short
tradeXYZ xyz:NATGAS	+0.0098%	1h	3.0009	+0.030%	$6.0M	$5.9M	10x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0012	+0.040%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	0.000%	$37K	$216K	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_mythoslong	+0.0100%	8h	3.0000	long leg	$3K	$544	10x
Phemex NGUSDT	+0.0100%	4h	3.0020	+0.067%	$1.5M	$95K	10x	as long as short
Extended XNG-USD	+0.0112%	1h	3.0002	+0.005%	$110K	$444K	5x	as long as short
HTX NATGAS-USDT	+0.0251%	4h	3.0042	+0.140%	$101K	$213K	75x	as long as short
KuCoin NATGASUSDTM	+0.0352%	4h	3.0010	+0.033%	$1.1M	$1.1M	20x	as long as short
Aster NATGASUSDT	+0.0371%	4h	3.0018	+0.060%	$265K	$73K	50x	as long as short
GRVT NATGAS_USDT_Perp	+0.0404%	4h	3.0027	+0.088%	$12K	$214K	25x	as long as short
OKX NG-USDT-SWAP	+0.0433%	8h	3.0020	+0.067%	$853K	$1.7M	50x	as long as short
GMX NATGAS/USD [ETH-USDC]short	L +0.0434% / S −0.0372%	1h	3.0025	+0.083%	$92K	—	45x
Gate NG_USDT	+0.0443%	8h	3.0070	+0.233%	$1.5M	$209K	100x	as long as short
BloFin NG-USDT	+0.0443%	8h	2.9990	−0.033%	$81K	$188K	20x	as long as short
Variational Omni NATGAS	+0.0547%	4h	3.0019	+0.063%	$311K	$444K	—	as long as short
edgeX NATGASUSDC	+0.0579%	4h	3.0019	+0.063%	$85K	$211K	20x	as long as short
Binance NATGASUSDT	+0.0584%	4h	3.0020	+0.067%	$10.2M	$28.9M	100x	as long as short
Bitget NATGASUSDT	+0.0958%	4h	2.9990	−0.033%	$9.9M	$3.4M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1109%	1h	3.0032	+0.107%	$53K	$34K	20x	as long as short