Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against ApeX Omni+0.033%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$176as in the Funding arb table

Net, price: spread back to 7d avg − costs−$172as in the Price arb table

costs, in and out, $10k−$1761.756% of the position

Long on ApeX Omni Short on Phemex

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+0.033%+$3 · spread now +0.033%, 7d avg 0.000%

Together, before fees+0.033%+$3 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: Phemex is 0.034% dearer against ApeX Omni than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni NATGASUSDT	3.0000	0.0100	pay 0.0013% / 1h	38m 24s	$37K	$217K	50x
Short	Phemex NGUSDT	3.0010	0.0100	get 0.0050% / 4h	3h 38m	$1.5M	$93K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against ApeX Omni. 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 ApeX OmnibpFee PhemexbpOrdersPrice spread, now +0.033%Rate

Funding earned: $0
Price spread: +0.033% → 0.000%: $3.37
Slippage, 4 orders: −$153.58
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$172.21
Costs to cover: 1.756%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 13 min ago; Phemex: live order book, 5 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 ApeX Omni live order book, 13 min ago	16.64 bp	59.9 bp −$60	271.8 bp −$2,718	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	1.67 bp	30.1 bp −$30	doesn't fit	doesn't fit	doesn't fit

NATGAS on 27 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	2.8405	−5.317%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0032	+0.107%	$2K	$2.4M	20x	as long as short
Hotstuff NATGAS-PERP	+0.0008%	1h	3.0007	+0.023%	$35K	—	20x	as long as short
QFEX NATGAS-USD	+0.0009%	1h	3.0010	+0.033%	$668K	$91K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0006	+0.020%	$626K	$501K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	2.9998	−0.007%	$110K	$395K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0010	+0.033%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9999	−0.003%	$82K	$26K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0058%	1h	3.0008	+0.027%	$6.0M	$5.7M	10x	as long as short
Paradex NG-USD-PERP	+0.0074%	8h	3.0022	+0.075%	$5K	—	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NATGAS	+0.0100%	1h	2.9989	−0.037%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDTlong	+0.0100%	1h	3.0000	long leg	$37K	$217K	50x
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	0.000%	$3K	$544	10x	as long as short
Phemex NGUSDTshort	+0.0100%	4h	3.0010	+0.033%	$1.5M	$93K	10x
KuCoin NATGASUSDTM	+0.0326%	4h	3.0010	+0.033%	$1.0M	$1.0M	20x	as long as short
Aster NATGASUSDT	+0.0374%	4h	3.0039	+0.130%	$263K	$74K	50x	as long as short
HTX NATGAS-USDT	+0.0386%	4h	3.0055	+0.183%	$107K	$213K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0468%	4h	3.0020	+0.067%	$12K	$230K	25x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0472% / S −0.0414%	1h	3.0025	+0.083%	$92K	—	45x	as long as short
Gate NG_USDT	+0.0530%	8h	3.0050	+0.167%	$1.5M	$192K	100x	as long as short
BloFin NG-USDT	+0.0538%	8h	3.0020	+0.067%	$81K	$193K	20x	as long as short
OKX NG-USDT-SWAP	+0.0558%	8h	3.0010	+0.033%	$863K	$1.7M	50x	as long as short
Variational Omni NATGAS	+0.0576%	4h	3.0020	+0.066%	$316K	$449K	—	as long as short
Binance NATGASUSDT	+0.0597%	4h	3.0024	+0.080%	$10.2M	$28.4M	100x	as long as short
edgeX NATGASUSDC	+0.0600%	4h	3.0010	+0.033%	$85K	$212K	20x	as long as short
Kraken Futures PF_NATGASUSD	+0.0856%	1h	3.0032	+0.106%	$55K	$35K	20x	as long as short
Bitget NATGASUSDT	+0.0976%	4h	2.9990	−0.033%	$9.9M	$3.2M	100x	as long as short