Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0614%/8h= −67.3% APRpaid last 24h −0.079%

Price spread now: GMX against Bitget+0.083%7-day average — · you sell dearer than you buy

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

Long on Bitget Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 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. GMX is 0.083% dearer against Bitget than usual: you sell high and buy low (spread +0.083% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NATGASUSDT	3.0030	0.1002	pay 0.0501% / 4h	36m 06s	$9.9M	$3.3M	100x
Short	GMX NATGAS/USD [ETH-USDC]	3.0055	L +0.0449% / S −0.0388%	get 0.0048% / 1h	36m 06s	$92K	—	45x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now +0.083%Rate

Funding earned: −$129.03
Price spread: +0.083% → 0.000%: $8.33
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$144.71
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 2 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 Bitget live order book, 2 min ago	1.66 bp	10.6 bp −$11	20.6 bp −$206	53.0 bp −$5,305	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 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-USDT	0.0000%	4h	3.0072	+0.140%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0022%	1h	3.0040	+0.033%	$659K	$85K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0048	+0.060%	$619K	$494K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0037	+0.022%	$110K	$434K	5x	as long as short
Hotstuff NATGAS-PERP	+0.0040%	1h	3.0050	+0.067%	$35K	—	20x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0050	+0.067%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0080	+0.167%	$83K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0056%	8h	3.0056	+0.086%	$5K	—	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0045	+0.050%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.100%	$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_mythos	+0.0100%	8h	3.0000	−0.100%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0050	+0.067%	$1.5M	$94K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0111%	1h	3.0052	+0.073%	$6.0M	$5.9M	10x	as long as short
HTX NATGAS-USDT	+0.0215%	4h	3.0074	+0.147%	$105K	$212K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0344%	4h	3.0050	+0.067%	$25K	$227K	25x	as long as short
KuCoin NATGASUSDTM	+0.0368%	4h	3.0040	+0.033%	$1.1M	$1.0M	20x	as long as short
Aster NATGASUSDT	+0.0406%	4h	3.0042	+0.039%	$266K	$73K	50x	as long as short
GMX NATGAS/USD [ETH-USDC]short	L +0.0449% / S −0.0388%	1h	3.0055	+0.083%	$92K	—	45x
Gate NG_USDT	+0.0455%	8h	3.0080	+0.167%	$1.5M	$192K	100x	as long as short
BloFin NG-USDT	+0.0466%	8h	3.0050	+0.067%	$80K	$189K	20x	as long as short
OKX NG-USDT-SWAP	+0.0485%	8h	3.0050	+0.067%	$855K	$1.7M	50x	as long as short
Variational Omni NATGAS	+0.0601%	4h	3.0050	+0.066%	$312K	$444K	—	as long as short
edgeX NATGASUSDC	+0.0618%	4h	3.0060	+0.099%	$85K	$212K	20x	as long as short
Binance NATGASUSDT	+0.0622%	4h	3.0050	+0.067%	$10.2M	$28.6M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0993%	1h	3.0066	+0.121%	$54K	$34K	20x	as long as short
Bitget NATGASUSDTlong	+0.1002%	4h	3.0030	long leg	$9.9M	$3.3M	100x