Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0287%/8h= −31.4% APRpaid last 24h −0.101%

Price spread now: ApeX Omni against edgeX+0.211%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$181as in the Funding arb table

Net, price: spread back to 7d avg − costs−$141as in the Price arb table

costs, in and out, $10k−$1631.634% of the position

Long on edgeX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.176%−$18 on $10k

Price spread, last 4 days (all we have)−0.102%−$10 · spread now +0.211%, 7d avg −0.009%

Together, before fees−0.279%+ Points / potential airdropedgeX: Active · farm board−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.219% dearer against edgeX than usual: you sell high and buy low (spread +0.211% now, against its 7-day average of −0.009%): +$22 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 2.6 days. At the pace of the last 7 days (−0.176% in total) that is about 8.7 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.176% in total (about -9.2% 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	edgeX NATGASUSDC	3.0037	0.0387	pay 0.0193% / 4h	3m 55s	$85K	$212K	20x
Short	ApeX Omni NATGASUSDT	3.0100	0.0100	get 0.0013% / 1h	3m 55s	$37K	$215K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against edgeX. 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 edgeXbpFee ApeX OmnibpOrdersPrice spread, now +0.211%Rate

Funding earned: −$60.2
Price spread: +0.211% → −0.009%: $21.94
Slippage, 4 orders: −$144.43
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$201.69
Costs to cover: 1.634%
Break-even: never at this rate

Slippage from edgeX: live order book, 33 min ago; ApeX Omni: live order book, 32 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 edgeX live order book, 33 min ago	13.31 bp	33.6 bp −$34	43.3 bp −$433	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 32 min ago	16.64 bp	56.6 bp −$57	270.0 bp −$2,700	doesn't fit	doesn't fit

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	2.8384	−5.502%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0042	+0.018%	$2K	$2.4M	20x	as long as short
HTX NATGAS-USDT	0.0000%	4h	3.0027	−0.032%	$118K	$221K	75x	as long as short
QFEX NATGAS-USD	+0.0004%	1h	3.0020	−0.056%	$659K	$96K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0030	−0.022%	$631K	$495K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0016	−0.069%	$109K	$271K	5x	as long as short
GRVT NATGAS_USDT_Perp	+0.0042%	4h	3.0020	−0.056%	$18K	$229K	25x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0030	−0.022%	—	$14K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	3.0021	−0.052%	$6.0M	$5.3M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0015	−0.072%	$82K	$26K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex NG-USD-PERP	+0.0051%	8h	3.0029	−0.024%	$5K	—	5x	as long as short
Hotstuff NATGAS-PERP	+0.0096%	1h	3.0031	−0.019%	$35K	—	20x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0002	−0.116%	$69K	$32K	10x	as long as short
ApeX Omni NATGASUSDTshort	+0.0100%	1h	3.0100	+0.211%	$37K	$215K	50x
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.122%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0020	−0.056%	$1.5M	$90K	10x	as long as short
KuCoin NATGASUSDTM	+0.0140%	4h	3.0010	−0.089%	$1.0M	$864K	20x	as long as short
Aster NATGASUSDT	+0.0145%	4h	3.0040	+0.011%	$264K	$69K	50x	as long as short
Variational Omni NATGAS	+0.0339%	4h	3.0031	−0.019%	$318K	$390K	—	as long as short
Binance NATGASUSDT	+0.0359%	4h	3.0020	−0.056%	$10.4M	$28.6M	100x	as long as short
edgeX NATGASUSDClong	+0.0387%	4h	3.0037	long leg	$85K	$212K	20x
BloFin NG-USDT	+0.0530%	8h	3.0010	−0.089%	$76K	$198K	20x	as long as short
OKX NG-USDT-SWAP	+0.0546%	8h	3.0010	−0.089%	$802K	$1.9M	50x	as long as short
Gate NG_USDT	+0.0568%	8h	3.0050	+0.044%	$1.5M	$197K	100x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0586% / S −0.0600%	1h	3.0025	−0.039%	$88K	—	45x	as long as short
Bitget NATGASUSDT	+0.0826%	4h	3.0000	−0.122%	$9.9M	$3.0M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0862%	1h	3.0039	+0.008%	$56K	$35K	20x	as long as short