Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0418%/8h= +45.8% APRpaid last 24h +0.040%

Price spread now: Binance against Gate−0.067%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$590.591% of the position

Long on Gate Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.288%−$29 on $10k

Price spread, last 2 days (all we have)+0.090%+$9 · spread now −0.067%, 7d avg −0.022%

Together, before fees−0.198%−$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.044% cheaper against Gate than usual: you would sell low and buy high (spread −0.067% now, against its 7-day average of −0.022%). If the spread goes back, that is −$4 on $10k: about 8 hours of funding at the current rate (+$13 a day). Mind the row above: over the last 7 days funding on this pair cost −0.288%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.288% in total (about -15.0% 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	Gate NG_USDT	2.9950	0.0232	pay 0.0232% / 8h	1h 24m	$1.5M	$307K	100x
Short	Binance NATGASUSDT	2.9930	0.0650	get 0.0325% / 4h	1h 24m	$10.1M	$31.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.067%Rate

Funding earned: $87.88
Price spread: −0.067% → −0.022%: −$4.43
Slippage, 4 orders: −$34.13
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Binance: 5 bp × 2 orders: −$10
Net: $24.31
Costs to cover: 0.591%
Break-even: 5.1 days

Slippage from Gate: live order book, 3 min ago; Binance: live order book, 2 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, 3 min ago	1.67 bp	26.9 bp −$27	77.8 bp −$778	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	1.67 bp	6.7 bp −$7	10.6 bp −$106	45.5 bp −$4,552	139.4 bp −$69.7K

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
Hotstuff NATGAS-PERP	−0.0048%	1h	2.9914	−0.120%	$35K	—	20x	as long as short
SunX NATGAS-USDT	0.0000%	4h	2.9908	−0.140%	$2K	$2.6M	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9915	−0.117%	$618K	$411K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9910	−0.134%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9920	−0.100%	$5.9M	$6.0M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9908	−0.140%	$84K	$50K	10x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9907	−0.145%	$68K	$34K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.167%	$36K	$216K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	2.9900	−0.167%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9930	−0.067%	$1.5M	$100K	10x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex NG-USD-PERP	+0.0127%	8h	2.9922	−0.093%	$5K	—	5x	as long as short
Extended XNG-USD	+0.0160%	1h	2.9905	−0.149%	$110K	$1.2M	5x	as long as short
QFEX NATGAS-USD	+0.0160%	1h	2.9920	−0.100%	$656K	$86K	20x	as long as short
Gate NG_USDTlong	+0.0232%	8h	2.9950	long leg	$1.5M	$307K	100x
KuCoin NATGASUSDTM	+0.0242%	4h	2.9920	−0.100%	$1.0M	$1.2M	20x	as long as short
HTX NATGAS-USDT	+0.0259%	4h	2.9953	+0.010%	$98K	$214K	75x	as long as short
OKX NG-USDT-SWAP	+0.0329%	8h	2.9920	−0.100%	$855K	$1.7M	50x	as long as short
BloFin NG-USDT	+0.0330%	8h	2.9920	−0.100%	$80K	$189K	20x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0406% / S −0.0333%	1h	2.9935	−0.050%	$93K	—	45x	as long as short
GRVT NATGAS_USDT_Perp	+0.0440%	4h	2.9916	−0.115%	$13K	$246K	25x	as long as short
Kraken Futures PF_NATGASUSD	+0.0515%	1h	2.9944	−0.019%	$52K	$44K	20x	as long as short
Aster NATGASUSDT	+0.0574%	4h	2.9940	−0.033%	$265K	$105K	50x	as long as short
Variational Omni NATGAS	+0.0608%	4h	2.9921	−0.096%	$311K	$446K	—	as long as short
Binance NATGASUSDTshort	+0.0650%	4h	2.9930	−0.067%	$10.1M	$31.1M	100x
edgeX NATGASUSDC	+0.0711%	4h	2.9921	−0.096%	$85K	$211K	20x	as long as short
Bitget NATGASUSDT	+0.0866%	4h	2.9900	−0.167%	$10.0M	$4.0M	100x	as long as short