Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0860%/8h= −94.2% APRpaid last 24h −0.213%

Price spread now: Orderly against Bitget+0.200%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 Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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. Orderly is 0.200% dearer against Bitget than usual: you sell high and buy low (spread +0.200% now, against zero (this spread has no 7-day history yet)): +$20 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NATGASUSDT	3.0040	0.0960	pay 0.0480% / 4h	1h 41m	$9.9M	$3.1M	100x
Short	Orderly PERP_NATGAS_USDC_mythos	3.0100	0.0100	get 0.0100% / 8h	1h 41m	$3K	$544	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.200%Rate

Funding earned: −$180.6
Price spread: +0.200% → 0.000%: $19.97
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$178.63
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Bitget: live order book, 2 min ago; Orderly: 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	10.1 bp −$10	21.4 bp −$214	54.2 bp −$5,418	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 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	2.8450	−5.293%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0092	+0.173%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0002%	1h	3.0060	+0.067%	$660K	$96K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0063	+0.077%	$629K	$502K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0055	+0.050%	$111K	$330K	5x	as long as short
HTX NATGAS-USDT	+0.0034%	4h	3.0083	+0.143%	$107K	$205K	75x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0070	+0.100%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0083	+0.143%	$83K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0057%	8h	3.0083	+0.142%	$5K	—	5x	as long as short
tradeXYZ xyz:NATGAS	+0.0072%	1h	3.0068	+0.093%	$6.0M	$5.5M	10x	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	3.0043	+0.009%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.133%	$37K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythosshort	+0.0100%	8h	3.0100	+0.200%	$3K	$544	10x
Phemex NGUSDT	+0.0100%	4h	3.0080	+0.133%	$1.5M	$93K	10x	as long as short
GRVT NATGAS_USDT_Perp	+0.0132%	4h	3.0060	+0.067%	$22K	$210K	25x	as long as short
Hotstuff NATGAS-PERP	+0.0272%	1h	3.0073	+0.110%	$35K	—	20x	as long as short
KuCoin NATGASUSDTM	+0.0280%	4h	3.0050	+0.033%	$1.0M	$930K	20x	as long as short
Aster NATGASUSDT	+0.0291%	4h	3.0088	+0.160%	$265K	$70K	50x	as long as short
Variational Omni NATGAS	+0.0511%	4h	3.0080	+0.132%	$318K	$432K	—	as long as short
Binance NATGASUSDT	+0.0534%	4h	3.0070	+0.100%	$10.3M	$28.6M	100x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0546% / S −0.0550%	1h	3.0075	+0.117%	$88K	—	45x	as long as short
edgeX NATGASUSDC	+0.0549%	4h	3.0058	+0.061%	$85K	$213K	20x	as long as short
Gate NG_USDT	+0.0634%	8h	3.0090	+0.166%	$1.5M	$196K	100x	as long as short
BloFin NG-USDT	+0.0643%	8h	3.0060	+0.067%	$82K	$195K	20x	as long as short
OKX NG-USDT-SWAP	+0.0650%	8h	3.0080	+0.133%	$875K	$1.8M	50x	as long as short
Bitget NATGASUSDTlong	+0.0960%	4h	3.0040	long leg	$9.9M	$3.1M	100x
Kraken Futures PF_NATGASUSD	+0.0986%	1h	3.0088	+0.161%	$56K	$35K	20x	as long as short