Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: SunX against Orderly+0.240%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 SunX

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread pays, funding is against you. SunX is 0.240% dearer against Orderly than usual: you sell high and buy low (spread +0.240% now, against zero (this spread has no 7-day history yet)): +$24 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 8.0 days.

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	4h 34m	$3K	$544	10x
Short	SunX NATGAS-USDT	3.0072	0	get 0.0000% / 4h	34m 11s	$2K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.240%Rate

Funding earned: −$21
Price spread: +0.240% → 0.000%: $24
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee SunX: 4 bp × 2 orders: −$8
Net: −$11
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; SunX: live order book, 3 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 Orderly no order-book sample	—	—	—	—	—
Sell SunX live order book, 3 min ago	15.13 bp	28.1 bp −$28	doesn't fit	doesn't fit	doesn't fit

Orderly: 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-USDTshort	0.0000%	4h	3.0072	+0.240%	$2K	$2.4M	20x
QFEX NATGAS-USD	+0.0022%	1h	3.0040	+0.133%	$659K	$85K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0047	+0.157%	$619K	$494K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0038	+0.126%	$110K	$432K	5x	as long as short
Hotstuff NATGAS-PERP	+0.0040%	1h	3.0053	+0.177%	$35K	—	20x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0050	+0.167%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0040	+0.133%	$83K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0056%	8h	3.0056	+0.186%	$5K	—	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0045	+0.150%	$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	3.0060	+0.200%	$1.5M	$94K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0117%	1h	3.0050	+0.167%	$6.0M	$5.9M	10x	as long as short
HTX NATGAS-USDT	+0.0216%	4h	3.0076	+0.253%	$105K	$212K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0348%	4h	3.0041	+0.137%	$25K	$227K	25x	as long as short
KuCoin NATGASUSDTM	+0.0372%	4h	3.0040	+0.133%	$1.1M	$1.0M	20x	as long as short
Aster NATGASUSDT	+0.0407%	4h	3.0043	+0.143%	$266K	$73K	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0453% / S −0.0393%	1h	3.0055	+0.183%	$92K	—	45x	as long as short
Gate NG_USDT	+0.0458%	8h	3.0080	+0.267%	$1.5M	$192K	100x	as long as short
OKX NG-USDT-SWAP	+0.0490%	8h	3.0050	+0.167%	$855K	$1.7M	50x	as long as short
BloFin NG-USDT	+0.0510%	8h	3.0050	+0.167%	$80K	$188K	20x	as long as short
Variational Omni NATGAS	+0.0601%	4h	3.0050	+0.166%	$312K	$444K	—	as long as short
edgeX NATGASUSDC	+0.0623%	4h	3.0051	+0.169%	$85K	$212K	20x	as long as short
Binance NATGASUSDT	+0.0624%	4h	3.0056	+0.187%	$10.2M	$28.6M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0993%	1h	3.0068	+0.225%	$54K	$34K	20x	as long as short
Bitget NATGASUSDT	+0.1004%	4h	3.0020	+0.067%	$9.9M	$3.3M	100x	as long as short