Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0452%/8h= +49.5% APRpaid last 24h +0.107%

Price spread now: Binance against Extended+0.089%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$210.206% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.119%+$12 on $10k

Price spread, last 4 days (all we have)−0.189%−$19 · spread now +0.089%, 7d avg +0.028%

Together, before fees−0.069%+ Points / potential airdropExtended: Active · farm board−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Binance is 0.061% dearer against Extended than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.028%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.119% in total (about 6.2% 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	Extended XNG-USD	3.0038	0.0200	pay 0.0025% / 1h	14m 31s	$110K	$365K	5x
Short	Binance NATGASUSDT	3.0065	0.0652	get 0.0326% / 4h	3h 14m	$10.3M	$28.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Extended. 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 ExtendedbpFee BinancebpOrdersPrice spread, now +0.089%Rate

Funding earned: $94.92
Price spread: +0.089% → +0.028%: $6.07
Slippage, 4 orders: −$5.57
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: $80.42
Costs to cover: 0.206%
Break-even: 1.1 days

Slippage from Extended: live order book, 38 min ago; Binance: live order book, 12 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 Extended live order book, 38 min ago	0.33 bp	3.8 bp −$4	8.6 bp −$86	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	1.66 bp	6.7 bp −$7	11.1 bp −$111	37.7 bp −$3,772	128.8 bp −$64.4K

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	2.8451	−5.283%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0082	+0.146%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0009%	1h	3.0050	+0.040%	$659K	$96K	20x	as long as short
Hotstuff NATGAS-PERP	+0.0024%	1h	3.0057	+0.063%	$35K	—	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0050	+0.040%	$629K	$503K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0050	+0.040%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0082	+0.146%	$83K	$26K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0091%	1h	3.0048	+0.033%	$6.0M	$5.7M	10x	as long as short
Paradex NG-USD-PERP	+0.0093%	8h	3.0075	+0.124%	$5K	—	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0052	+0.046%	$68K	$33K	10x	as long as short

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	−0.127%	$37K	$218K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.127%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0070	+0.106%	$1.5M	$92K	10x	as long as short
Extended XNG-USDlong	+0.0200%	1h	3.0038	long leg	$110K	$365K	5x
KuCoin NATGASUSDTM	+0.0362%	4h	3.0020	−0.060%	$1.0M	$989K	20x	as long as short
Aster NATGASUSDT	+0.0420%	4h	3.0060	+0.073%	$264K	$74K	50x	as long as short
GRVT NATGAS_USDT_Perp	+0.0474%	4h	3.0050	+0.041%	$13K	$223K	25x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0486% / S −0.0429%	1h	3.0065	+0.090%	$92K	—	45x	as long as short
HTX NATGAS-USDT	+0.0539%	4h	3.0069	+0.103%	$106K	$211K	75x	as long as short
Gate NG_USDT	+0.0554%	8h	3.0100	+0.206%	$1.5M	$193K	100x	as long as short
BloFin NG-USDT	+0.0572%	8h	3.0060	+0.073%	$82K	$195K	20x	as long as short
OKX NG-USDT-SWAP	+0.0597%	8h	3.0060	+0.073%	$867K	$1.7M	50x	as long as short
Variational Omni NATGAS	+0.0627%	4h	3.0060	+0.072%	$312K	$444K	—	as long as short
edgeX NATGASUSDC	+0.0646%	4h	3.0052	+0.047%	$85K	$213K	20x	as long as short
Binance NATGASUSDTshort	+0.0652%	4h	3.0065	+0.089%	$10.3M	$28.2M	100x
Kraken Futures PF_NATGASUSD	+0.0854%	1h	3.0078	+0.133%	$56K	$35K	20x	as long as short
Bitget NATGASUSDT	+0.1020%	4h	3.0010	−0.093%	$9.9M	$3.2M	100x	as long as short