Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0486%/8h= +53.2% APRpaid last 24h +0.168%

Price spread now: GMX against SunX−0.057%7-day average — · you buy dearer than you sell

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

Long on SunX Short on GMX

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—needs both histories

Funding pays, the price is against you. GMX is 0.057% cheaper against SunX than usual: you would sell low and buy high (spread −0.057% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 9 hours of funding at the current rate (+$15 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NATGAS-USDT	3.0042	0	get 0.0000% / 4h	1h 59m	$2K	$1.7M	20x
Short	GMX NATGAS/USD [ETH-USDC]	3.0025	L +0.0493% / S −0.0486%	get 0.0061% / 1h	59m 38s	$88K	—	45x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against SunX. 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 SunXbpFee GMXbpOrdersPrice spread, now −0.057%Rate

Funding earned: $102.05
Price spread: −0.057% → 0.000%: −$5.66
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $76.39
Costs to cover: 0.200%
Break-even: 1.8 days

Slippage unknown: SunX: live order book, 10 min ago; 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 SunX live order book, 10 min ago	15.01 bp	19.4 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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 27 exchanges

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
Hotstuff NATGAS-PERP	−0.1600%	1h	3.0037	−0.017%	$35K	—	20x	as long as short
GRVT NATGAS_USDT_Perp	0.0000%	4h	3.0007	−0.117%	$20K	$208K	25x	as long as short
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8410	−5.432%	—	—	—	as long as short
SunX NATGAS-USDTlong	0.0000%	4h	3.0042	long leg	$2K	$1.7M	20x
HTX NATGAS-USDT	0.0000%	4h	3.0043	+0.003%	$118K	$221K	75x	as long as short
Aster NATGASUSDT	+0.0004%	4h	3.0030	−0.040%	$259K	$73K	50x	as long as short
tradeXYZ xyz:NATGAS	+0.0023%	1h	3.0035	−0.023%	$6.0M	$5.0M	10x	as long as short
QFEX NATGAS-USD	+0.0024%	1h	3.0030	−0.040%	$661K	$99K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0036	−0.020%	$677K	$764K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0037	−0.018%	$141K	$349K	5x	as long as short

Show all 27 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NG-PERP	+0.0046%	1h	3.0050	+0.027%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0013	−0.097%	$84K	$28K	10x	as long as short
Paradex NG-USD-PERP	+0.0052%	8h	3.0033	−0.030%	$5K	—	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0024	−0.059%	$68K	$39K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.140%	$37K	$214K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.140%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0030	−0.040%	$1.5M	$92K	10x	as long as short
Variational Omni NATGAS	+0.0125%	4h	3.0028	−0.047%	$356K	$429K	—	as long as short
KuCoin NATGASUSDTM	+0.0158%	4h	3.0030	−0.040%	$1.1M	$811K	20x	as long as short
Binance NATGASUSDT	+0.0181%	4h	3.0027	−0.049%	$9.6M	$31.8M	100x	as long as short
edgeX NATGASUSDC	+0.0225%	4h	2.9950	−0.307%	$85K	$212K	20x	as long as short
Gate NG_USDT	+0.0278%	8h	3.0060	+0.060%	$1.5M	$199K	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0297%	1h	3.0032	−0.033%	$55K	$46K	20x	as long as short
OKX NG-USDT-SWAP	+0.0376%	8h	3.0030	−0.040%	$835K	$2.0M	50x	as long as short
BloFin NG-USDT	+0.0395%	8h	3.0040	−0.007%	$80K	$200K	20x	as long as short
GMX NATGAS/USD [ETH-USDC]short	L +0.0493% / S −0.0486%	1h	3.0025	−0.057%	$88K	—	45x
Bitget NATGASUSDT	+0.0720%	4h	3.0010	−0.107%	$9.9M	$2.9M	100x	as long as short