Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0785%/8h= −85.9% APRpaid last 24h +0.013%

Price spread now: Kraken Futures against Bitget+0.066%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 Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.413%−$41 on $10k

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. Kraken Futures is 0.066% dearer against Bitget than usual: you sell high and buy low (spread +0.066% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−0.413% in total) that is about 27 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.413% in total (about -21.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NATGASUSDT	3.0000	0.0708	pay 0.0354% / 4h	1h 44m	$9.9M	$2.9M	100x
Short	Kraken Futures PF_NATGASUSD	3.0020	−0.0077	pay 0.0010% / 1h	44m 40s	$54K	$46K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.066%Rate

Funding earned: −$164.76
Price spread: +0.066% → 0.000%: $6.56
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$180.2
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 2 min ago; Kraken Futures: 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	1.67 bp	11.3 bp −$11	19.5 bp −$195	56.5 bp −$5,651	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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	3.0022	+0.073%	$35K	—	20x	as long as short
Kraken Futures PF_NATGASUSDshort	−0.0077%	1h	3.0020	+0.066%	$54K	$46K	20x
QFEX NATGAS-USD	−0.0004%	1h	3.0020	+0.067%	$661K	$99K	20x	as long as short
Aster NATGASUSDT	0.0000%	4h	3.0000	0.000%	$258K	$74K	50x	as long as short
GRVT NATGAS_USDT_Perp	0.0000%	4h	3.0034	+0.112%	$19K	$200K	25x	as long as short
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8355	−5.483%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0042	+0.140%	$2K	$1.7M	20x	as long as short
HTX NATGAS-USDT	0.0000%	4h	3.0040	+0.133%	$118K	$220K	75x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0016	+0.053%	$649K	$793K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0014	+0.047%	$122K	$368K	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	3.0030	+0.100%	—	$14K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	3.0014	+0.047%	$6.0M	$4.9M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0013	+0.043%	$84K	$28K	10x	as long as short
Paradex NG-USD-PERP	+0.0051%	8h	3.0025	+0.084%	$5K	—	5x	as long as short
Variational Omni NATGAS	+0.0088%	4h	3.0027	+0.091%	$356K	$426K	—	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9996	−0.012%	$68K	$39K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0100	+0.333%	$37K	$215K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	0.000%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0020	+0.067%	$1.5M	$93K	10x	as long as short
KuCoin NATGASUSDTM	+0.0130%	4h	3.0000	0.000%	$1.1M	$798K	20x	as long as short
Binance NATGASUSDT	+0.0167%	4h	3.0020	+0.067%	$10.0M	$32.6M	100x	as long as short
edgeX NATGASUSDC	+0.0177%	4h	3.0026	+0.087%	$85K	$212K	20x	as long as short
Gate NG_USDT	+0.0268%	8h	3.0050	+0.167%	$1.5M	$200K	100x	as long as short
BloFin NG-USDT	+0.0329%	8h	3.0020	+0.067%	$80K	$202K	20x	as long as short
OKX NG-USDT-SWAP	+0.0349%	8h	3.0010	+0.033%	$833K	$2.0M	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0493% / S −0.0486%	1h	3.0025	+0.083%	$88K	—	45x	as long as short
Bitget NATGASUSDTlong	+0.0708%	4h	3.0000	long leg	$9.9M	$2.9M	100x