Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0146%/8h= −16.0% APRpaid last 24h +0.050%

Price spread now: GMX against edgeX+0.050%7-day average — · you sell dearer than you buy

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

Long on edgeX 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—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

The price spread pays, funding is against you. GMX is 0.050% dearer against edgeX than usual: you sell high and buy low (spread +0.050% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX NATGASUSDC	3.0010	0.0510	pay 0.0255% / 4h	1h 48m	$85K	$212K	20x
Short	GMX NATGAS/USD [ETH-USDC]	3.0025	L +0.0427% / S −0.0365%	get 0.0046% / 1h	48m 49s	$92K	—	45x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.050%Rate

Funding earned: −$30.64
Price spread: +0.050% → 0.000%: $4.98
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$46.66
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 13 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 edgeX live order book, 13 min ago	13.34 bp	33.4 bp −$33	42.3 bp −$423	doesn't fit	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
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8385	−5.415%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0041	+0.103%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0019%	1h	3.0020	+0.033%	$659K	$85K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0024	+0.046%	$619K	$445K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	2.9998	−0.040%	$110K	$442K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0010	0.000%	—	$378	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0031	+0.070%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0063%	8h	3.0020	+0.034%	$5K	—	5x	as long as short
tradeXYZ xyz:NATGAS	+0.0066%	1h	3.0010	0.000%	$5.9M	$5.9M	10x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9998	−0.040%	$68K	$33K	10x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.033%	$37K	$218K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.033%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0030	+0.066%	$1.5M	$95K	10x	as long as short
HTX NATGAS-USDT	+0.0216%	4h	3.0041	+0.103%	$98K	$212K	75x	as long as short
KuCoin NATGASUSDTM	+0.0270%	4h	3.0010	0.000%	$1.0M	$1.1M	20x	as long as short
Hotstuff NATGAS-PERP	+0.0272%	1h	3.0023	+0.043%	$35K	—	20x	as long as short
Aster NATGASUSDT	+0.0289%	4h	3.0011	+0.005%	$265K	$73K	50x	as long as short
GRVT NATGAS_USDT_Perp	+0.0364%	4h	3.0010	0.000%	$12K	$214K	25x	as long as short
OKX NG-USDT-SWAP	+0.0387%	8h	3.0020	+0.033%	$862K	$1.7M	50x	as long as short
Gate NG_USDT	+0.0404%	8h	3.0050	+0.133%	$1.5M	$208K	100x	as long as short
GMX NATGAS/USD [ETH-USDC]short	L +0.0427% / S −0.0365%	1h	3.0025	+0.050%	$92K	—	45x
Variational Omni NATGAS	+0.0459%	4h	3.0009	−0.003%	$311K	$444K	—	as long as short
Binance NATGASUSDT	+0.0507%	4h	3.0020	+0.033%	$10.2M	$28.9M	100x	as long as short
edgeX NATGASUSDClong	+0.0510%	4h	3.0010	long leg	$85K	$212K	20x
Bitget NATGASUSDT	+0.0826%	4h	3.0000	−0.033%	$9.9M	$3.4M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1109%	1h	3.0034	+0.079%	$54K	$36K	20x	as long as short