Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0189%/8h= −20.7% APRpaid last 24h −0.043%

Price spread now: ApeX Omni against Aster−0.031%79s7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$221as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2262.263% of the position

Long on Aster Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 4 days (all we have)+0.031%+$3 · spread now −0.031%, 7d avg −0.014%

Together, before fees+0.089%+ Points / potential airdropAster: Stage 5 · farm board+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.014%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.058%, so the current rate has only just turned against you. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.058% in total (about 3.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster NATGASUSDT	3.0009	0.0289	pay 0.0145% / 4h	1h 48m	$265K	$73K	50x
Short	ApeX Omni NATGASUSDT	3.0000	0.0100	get 0.0013% / 1h	48m 07s	$37K	$218K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Aster. 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 AsterbpFee ApeX OmnibpOrdersPrice spread, now −0.031%Rate

Funding earned: −$39.72
Price spread: −0.031% → −0.014%: −$1.69
Slippage, 4 orders: −$208.27
Fee Aster: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$267.68
Costs to cover: 2.263%
Break-even: never at this rate

Slippage from Aster: live order book, 14 min ago; ApeX Omni: live order book, 13 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 Aster live order book, 14 min ago	6.66 bp	68.3 bp −$68	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 13 min ago	33.33 bp	68.0 bp −$68	270.1 bp −$2,701	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	2.8384	−5.416%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0041	+0.106%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0019%	1h	3.0010	+0.002%	$658K	$85K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0023	+0.046%	$619K	$445K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	2.9998	−0.037%	$110K	$442K	5x	as long as short
Hotstuff NATGAS-PERP	+0.0040%	1h	3.0013	+0.012%	$35K	—	20x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0010	+0.002%	—	$378	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0031	+0.072%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0063%	8h	3.0020	+0.037%	$5K	—	5x	as long as short
tradeXYZ xyz:NATGAS	+0.0070%	1h	3.0007	−0.008%	$5.9M	$5.9M	10x	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	2.9998	−0.038%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDTshort	+0.0100%	1h	3.0000	−0.031%	$37K	$218K	50x
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.031%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0020	+0.036%	$1.5M	$95K	10x	as long as short
HTX NATGAS-USDT	+0.0217%	4h	3.0038	+0.096%	$100K	$214K	75x	as long as short
KuCoin NATGASUSDTM	+0.0270%	4h	3.0010	+0.002%	$1.0M	$1.1M	20x	as long as short
Aster NATGASUSDTlong	+0.0289%	4h	3.0009	long leg	$265K	$73K	50x
GRVT NATGAS_USDT_Perp	+0.0364%	4h	3.0010	+0.002%	$12K	$214K	25x	as long as short
OKX NG-USDT-SWAP	+0.0388%	8h	3.0020	+0.036%	$862K	$1.7M	50x	as long as short
Gate NG_USDT	+0.0403%	8h	3.0050	+0.136%	$1.5M	$208K	100x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0427% / S −0.0365%	1h	3.0025	+0.052%	$92K	—	45x	as long as short
Variational Omni NATGAS	+0.0459%	4h	3.0009	0.000%	$311K	$444K	—	as long as short
Binance NATGASUSDT	+0.0507%	4h	3.0020	+0.036%	$10.2M	$28.9M	100x	as long as short
edgeX NATGASUSDC	+0.0510%	4h	3.0010	+0.003%	$85K	$212K	20x	as long as short
Bitget NATGASUSDT	+0.0832%	4h	3.0000	−0.031%	$9.9M	$3.4M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1109%	1h	3.0032	+0.075%	$53K	$36K	20x	as long as short