Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Phemex+0.033%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$169as in the Funding arb table

Net, price: spread back to 7d avg − costs−$166as in the Price arb table

costs, in and out, $10k−$1691.694% of the position

Long on Phemex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.055%−$6 · spread now +0.033%, 7d avg +0.004%

Together, before fees−0.055%−$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.030% dearer against Phemex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NGUSDT	2.9990	0.0100	pay 0.0050% / 4h	2h 13m	$1.5M	$95K	10x
Short	ApeX Omni NATGASUSDT	3.0000	0.0100	get 0.0013% / 1h	13m 34s	$37K	$218K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phemex. 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 PhemexbpFee ApeX OmnibpOrdersPrice spread, now +0.033%Rate

Funding earned: $0
Price spread: +0.033% → +0.004%: $2.96
Slippage, 4 orders: −$147.43
Fee Phemex: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$166.48
Costs to cover: 1.694%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; ApeX Omni: live order book, 53 min ago.

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 Phemex live order book, 4 min ago	1.67 bp	32.3 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 53 min ago	16.64 bp	56.4 bp −$56	275.9 bp −$2,759	doesn't fit	doesn't fit

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
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8361	−5.432%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0021	+0.103%	$2K	$2.5M	20x	as long as short
Hotstuff NATGAS-PERP	+0.0008%	1h	2.9987	−0.010%	$35K	—	20x	as long as short
QFEX NATGAS-USD	+0.0019%	1h	2.9990	0.000%	$658K	$86K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0002	+0.040%	$618K	$445K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9990	0.000%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9987	−0.010%	$5.9M	$5.9M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0030	+0.133%	$82K	$27K	10x	as long as short
Paradex NG-USD-PERP	+0.0072%	8h	2.9999	+0.031%	$5K	—	5x	as long as short
Extended XNG-USD	+0.0080%	1h	2.9977	−0.044%	$110K	$449K	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NATGAS	+0.0100%	1h	2.9993	+0.010%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDTshort	+0.0100%	1h	3.0000	+0.033%	$37K	$218K	50x
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	+0.033%	$3K	$544	10x	as long as short
Phemex NGUSDTlong	+0.0100%	4h	2.9990	long leg	$1.5M	$95K	10x
KuCoin NATGASUSDTM	+0.0172%	4h	2.9990	0.000%	$1.0M	$1.1M	20x	as long as short
Aster NATGASUSDT	+0.0238%	4h	2.9988	−0.008%	$265K	$73K	50x	as long as short
HTX NATGAS-USDT	+0.0247%	4h	3.0009	+0.063%	$98K	$212K	75x	as long as short
OKX NG-USDT-SWAP	+0.0355%	8h	3.0000	+0.033%	$860K	$1.7M	50x	as long as short
Variational Omni NATGAS	+0.0384%	4h	3.0009	+0.065%	$311K	$444K	—	as long as short
GRVT NATGAS_USDT_Perp	+0.0416%	4h	3.0019	+0.096%	$12K	$214K	25x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0422% / S −0.0359%	1h	3.0005	+0.050%	$92K	—	45x	as long as short
Gate NG_USDT	+0.0431%	8h	3.0030	+0.133%	$1.5M	$219K	100x	as long as short
edgeX NATGASUSDC	+0.0440%	4h	3.0009	+0.065%	$85K	$213K	20x	as long as short
Binance NATGASUSDT	+0.0450%	4h	2.9990	0.000%	$10.2M	$29.1M	100x	as long as short
Bitget NATGASUSDT	+0.0702%	4h	2.9970	−0.067%	$9.9M	$3.4M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0826%	1h	3.0015	+0.084%	$53K	$38K	20x	as long as short