Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0576%/8h= −63.1% APRpaid last 24h −0.101%

Price spread now: Pacifica against edgeX−0.065%7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Pacifica

What this pair did over the last

the charts below follow

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

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

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

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Pacifica is 0.065% cheaper against edgeX than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

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	3.0070	0.0676	pay 0.0338% / 4h	3h 06m	$85K	$212K	20x
Short	Pacifica NATGAS	3.0050	0.0100	get 0.0013% / 1h	6m 50s	$68K	$33K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.065%Rate

Funding earned: −$120.96
Price spread: −0.065% → 0.000%: −$6.49
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$144.45
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 45 min ago; Pacifica: 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, 45 min ago	13.32 bp	33.8 bp −$34	41.5 bp −$415	doesn't fit	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

Pacifica: 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	2.8456	−5.366%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0092	+0.075%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0009%	1h	3.0060	−0.032%	$660K	$96K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0058	−0.038%	$629K	$503K	10x	as long as short
Hotstuff NATGAS-PERP	+0.0032%	1h	3.0063	−0.022%	$35K	—	20x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0050	−0.065%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0057	−0.042%	$83K	$26K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0095%	1h	3.0063	−0.022%	$6.0M	$5.6M	10x	as long as short
Paradex NG-USD-PERP	+0.0099%	8h	3.0076	+0.021%	$5K	—	5x	as long as short
Pacifica NATGASshort	+0.0100%	1h	3.0050	−0.065%	$68K	$33K	10x

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.231%	$37K	$218K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.231%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0070	+0.002%	$1.5M	$93K	10x	as long as short
Extended XNG-USD	+0.0216%	1h	3.0048	−0.071%	$110K	$364K	5x	as long as short
KuCoin NATGASUSDTM	+0.0364%	4h	3.0060	−0.032%	$1.0M	$982K	20x	as long as short
Aster NATGASUSDT	+0.0428%	4h	3.0060	−0.032%	$264K	$74K	50x	as long as short
GRVT NATGAS_USDT_Perp	+0.0462%	4h	3.0056	−0.046%	$13K	$223K	25x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0488% / S −0.0432%	1h	3.0075	+0.018%	$92K	—	45x	as long as short
HTX NATGAS-USDT	+0.0517%	4h	3.0083	+0.045%	$107K	$212K	75x	as long as short
Gate NG_USDT	+0.0556%	8h	3.0100	+0.101%	$1.5M	$193K	100x	as long as short
BloFin NG-USDT	+0.0585%	8h	3.0080	+0.035%	$82K	$195K	20x	as long as short
OKX NG-USDT-SWAP	+0.0609%	8h	3.0070	+0.002%	$867K	$1.7M	50x	as long as short
Variational Omni NATGAS	+0.0636%	4h	3.0069	0.000%	$312K	$444K	—	as long as short
Binance NATGASUSDT	+0.0663%	4h	3.0070	+0.002%	$10.3M	$28.2M	100x	as long as short
edgeX NATGASUSDClong	+0.0676%	4h	3.0070	long leg	$85K	$212K	20x
Kraken Futures PF_NATGASUSD	+0.0854%	1h	3.0087	+0.057%	$56K	$35K	20x	as long as short
Bitget NATGASUSDT	+0.1034%	4h	3.0040	−0.098%	$9.9M	$3.2M	100x	as long as short