Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0431%/8h= −47.2% APRpaid last 24h −0.072%

Price spread now: ApeX Omni against Gate−0.166%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$183as in the Funding arb table

Net, price: spread back to 7d avg − costs−$165as in the Price arb table

costs, in and out, $10k−$1521.515% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.316%−$32 on $10k

Price spread, last 4 days (all we have)+0.059%+$6 · spread now −0.166%, 7d avg −0.028%

Together, before fees−0.257%−$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and ApeX Omni is 0.138% cheaper against Gate than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.028%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NG_USDT	3.0050	0.0531	pay 0.0531% / 8h	3h 41m	$1.5M	$192K	100x
Short	ApeX Omni NATGASUSDT	3.0000	0.0100	get 0.0013% / 1h	41m 16s	$37K	$217K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now −0.166%Rate

Funding earned: −$90.51
Price spread: −0.166% → −0.028%: −$13.79
Slippage, 4 orders: −$126.53
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$255.84
Costs to cover: 1.515%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; ApeX Omni: live order book, 10 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 Gate live order book, 1 min ago	1.66 bp	20.3 bp −$20	54.8 bp −$548	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 10 min ago	16.64 bp	52.0 bp −$52	272.2 bp −$2,722	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	2.8414	−5.444%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0031	−0.063%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0009%	1h	3.0020	−0.100%	$669K	$91K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0014	−0.120%	$626K	$501K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0008	−0.139%	$110K	$395K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0010	−0.133%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9999	−0.170%	$82K	$26K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0057%	1h	3.0009	−0.136%	$6.0M	$5.7M	10x	as long as short
Hotstuff NATGAS-PERP	+0.0072%	1h	3.0002	−0.160%	$35K	—	20x	as long as short
Paradex NG-USD-PERP	+0.0075%	8h	3.0027	−0.075%	$5K	—	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NATGAS	+0.0100%	1h	2.9985	−0.216%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDTshort	+0.0100%	1h	3.0000	−0.166%	$37K	$217K	50x
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.166%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0020	−0.100%	$1.5M	$93K	10x	as long as short
KuCoin NATGASUSDTM	+0.0326%	4h	3.0010	−0.133%	$1.0M	$1.0M	20x	as long as short
Aster NATGASUSDT	+0.0374%	4h	3.0042	−0.025%	$264K	$74K	50x	as long as short
HTX NATGAS-USDT	+0.0403%	4h	3.0054	+0.013%	$107K	$214K	75x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0472% / S −0.0414%	1h	3.0025	−0.083%	$92K	—	45x	as long as short
Gate NG_USDTlong	+0.0531%	8h	3.0050	long leg	$1.5M	$192K	100x
OKX NG-USDT-SWAP	+0.0557%	8h	3.0010	−0.133%	$861K	$1.7M	50x	as long as short
Variational Omni NATGAS	+0.0576%	4h	3.0020	−0.101%	$316K	$449K	—	as long as short
BloFin NG-USDT	+0.0580%	8h	2.9990	−0.200%	$81K	$191K	20x	as long as short
GRVT NATGAS_USDT_Perp	+0.0596%	4h	3.0017	−0.110%	$12K	$230K	25x	as long as short
Binance NATGASUSDT	+0.0598%	4h	3.0020	−0.100%	$10.2M	$28.4M	100x	as long as short
edgeX NATGASUSDC	+0.0617%	4h	3.0012	−0.126%	$85K	$211K	20x	as long as short
Kraken Futures PF_NATGASUSD	+0.0856%	1h	3.0040	−0.033%	$56K	$35K	20x	as long as short
Bitget NATGASUSDT	+0.0978%	4h	2.9990	−0.200%	$9.9M	$3.2M	100x	as long as short