Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.1939%/8h= −212.3% APRpaid last 24h −0.095%

Price spread now: Hotstuff against BloFin+0.087%7-day average — · you sell dearer than you buy

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

Long on BloFin Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Hotstuff is 0.087% dearer against BloFin than usual: you sell high and buy low (spread +0.087% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$58 a day in funding at the current rate, which eats that in about 4 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin NG-USDT	2.9950	0.0339	pay 0.0339% / 8h	4h 58m	$80K	$201K	20x
Short	Hotstuff NATGAS-PERP	2.9976	−0.1600	pay 0.0200% / 1h	58m 26s	$36K	$599	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against BloFin. 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 BloFinbpFee HotstuffbpOrdersPrice spread, now +0.087%Rate

Funding earned: −$407.2
Price spread: +0.087% → 0.000%: $8.68
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$415.52
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 40 min ago; Hotstuff: 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 BloFin live order book, 40 min ago	1.67 bp	9.9 bp −$10	20.6 bp −$206	81.1 bp −$8,111	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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-PERPshort	−0.1600%	1h	2.9976	+0.087%	$36K	$599	20x
QFEX NATGAS-USD	−0.0004%	1h	2.9970	+0.067%	$594K	$101K	20x	as long as short
GRVT NATGAS_USDT_Perp	0.0000%	4h	2.9960	+0.034%	$14K	$194K	25x	as long as short
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8359	−5.312%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0002	+0.174%	$2K	$1.6M	20x	as long as short
HTX NATGAS-USDT	0.0000%	4h	2.9994	+0.147%	$118K	$219K	75x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9980	+0.100%	$645K	$703K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	2.9971	+0.070%	$123K	$371K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9970	+0.067%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9945	−0.017%	$84K	$28K	10x	as long as short

Show all 27 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex NG-USD-PERP	+0.0050%	8h	2.9985	+0.117%	$5K	—	5x	as long as short
tradeXYZ xyz:NATGAS	+0.0057%	1h	2.9973	+0.077%	$6.0M	$4.9M	10x	as long as short
Aster NATGASUSDT	+0.0082%	4h	3.0000	+0.167%	$258K	$74K	50x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9973	+0.077%	$68K	$39K	10x	as long as short
KuCoin NATGASUSDTM	+0.0100%	4h	2.9970	+0.067%	$1.1M	$759K	20x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	+0.167%	$37K	$215K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	+0.167%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9980	+0.100%	$1.5M	$94K	10x	as long as short
Variational Omni NATGAS	+0.0173%	4h	2.9957	+0.024%	$355K	$419K	—	as long as short
Binance NATGASUSDT	+0.0238%	4h	2.9981	+0.105%	$10.0M	$32.5M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0241%	1h	2.9973	+0.075%	$53K	$47K	20x	as long as short
edgeX NATGASUSDC	+0.0241%	4h	2.9953	+0.010%	$85K	$212K	20x	as long as short
Gate NG_USDT	+0.0319%	8h	3.0000	+0.167%	$1.5M	$157K	100x	as long as short
BloFin NG-USDTlong	+0.0339%	8h	2.9950	long leg	$80K	$201K	20x
OKX NG-USDT-SWAP	+0.0356%	8h	2.9990	+0.134%	$836K	$2.0M	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0403% / S −0.0375%	1h	2.9985	+0.117%	$88K	—	45x	as long as short
Bitget NATGASUSDT	+0.0788%	4h	2.9960	+0.033%	$9.9M	$2.8M	100x	as long as short