Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0334%/8h= −36.6% APRpaid last 24h −0.079%

Price spread now: HTX against Gate−0.090%7-day average +0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$610.609% of the position

Long on Gate Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.498%−$50 on $10k

Price spread, last 4 days (all we have)+0.075%+$7 · spread now −0.090%, 7d avg +0.030%

Together, before fees−0.423%−$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and HTX is 0.120% cheaper against Gate than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.030%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NG_USDT	3.0070	0.0494	pay 0.0494% / 8h	4h 09m	$1.5M	$194K	100x
Short	HTX NATGAS-USDT	3.0043	0.0160	get 0.0080% / 4h	9m 29s	$105K	$210K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.090%Rate

Funding earned: −$70.12
Price spread: −0.090% → +0.030%: −$12.01
Slippage, 4 orders: −$33.89
Fee Gate: 7.5 bp × 2 orders: −$15
Fee HTX: 6 bp × 2 orders: −$12
Net: −$143.02
Costs to cover: 0.609%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; HTX: live order book, 47 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	1.66 bp	20.9 bp −$21	58.9 bp −$589	doesn't fit	doesn't fit
Sell HTX live order book, 47 min ago	3.50 bp	11.1 bp −$11	19.9 bp −$199	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	2.8451	−5.384%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0042	−0.093%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0022%	1h	3.0020	−0.166%	$669K	$91K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0021	−0.163%	$619K	$494K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0021	−0.161%	$110K	$405K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0030	−0.133%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0030	−0.133%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0054%	8h	3.0045	−0.082%	$5K	—	5x	as long as short
tradeXYZ xyz:NATGAS	+0.0069%	1h	3.0025	−0.150%	$6.0M	$5.7M	10x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0013	−0.190%	$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	−0.233%	$37K	$216K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.233%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0030	−0.133%	$1.5M	$93K	10x	as long as short
Hotstuff NATGAS-PERP	+0.0152%	1h	3.0028	−0.140%	$35K	—	20x	as long as short
HTX NATGAS-USDTshort	+0.0160%	4h	3.0043	−0.090%	$105K	$210K	75x
GRVT NATGAS_USDT_Perp	+0.0306%	4h	3.0030	−0.132%	$25K	$227K	25x	as long as short
KuCoin NATGASUSDTM	+0.0322%	4h	3.0020	−0.166%	$1.0M	$1.0M	20x	as long as short
Aster NATGASUSDT	+0.0367%	4h	3.0020	−0.166%	$265K	$72K	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0459% / S −0.0399%	1h	3.0035	−0.116%	$92K	—	45x	as long as short
Gate NG_USDTlong	+0.0494%	8h	3.0070	long leg	$1.5M	$194K	100x
OKX NG-USDT-SWAP	+0.0513%	8h	3.0030	−0.133%	$861K	$1.7M	50x	as long as short
BloFin NG-USDT	+0.0537%	8h	3.0040	−0.100%	$81K	$192K	20x	as long as short
Variational Omni NATGAS	+0.0574%	4h	3.0029	−0.135%	$317K	$449K	—	as long as short
Binance NATGASUSDT	+0.0588%	4h	3.0030	−0.133%	$10.2M	$28.5M	100x	as long as short
edgeX NATGASUSDC	+0.0606%	4h	3.0030	−0.131%	$85K	$212K	20x	as long as short
Bitget NATGASUSDT	+0.0968%	4h	3.0010	−0.200%	$9.9M	$3.3M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0994%	1h	3.0040	−0.100%	$54K	$33K	20x	as long as short