Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0076%/8h= −8.3% APRpaid last 24h −0.118%

Price spread now: HTX against GMX+0.100%7-day average — · you sell dearer than you buy

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

Long on GMX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. HTX is 0.100% dearer against GMX than usual: you sell high and buy low (spread +0.100% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX NATGAS/USD [ETH-USDC]	3.0025	L +0.0473% / S −0.0415%	pay 0.0059% / 1h	36m 56s	$92K	—	45x
Short	HTX NATGAS-USDT	3.0055	0.0397	get 0.0198% / 4h	3h 36m	$107K	$213K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against GMX. 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 GMXbpFee HTXbpOrdersPrice spread, now +0.100%Rate

Funding earned: −$15.94
Price spread: +0.100% → 0.000%: $9.99
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$29.95
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; HTX: live order book, 14 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell HTX live order book, 14 min ago	1.50 bp	13.0 bp −$13	18.7 bp −$187	doesn't fit	doesn't fit

GMX: 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	2.8404	−5.399%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0042	+0.057%	$2K	$2.4M	20x	as long as short
Hotstuff NATGAS-PERP	+0.0008%	1h	3.0009	−0.053%	$35K	—	20x	as long as short
QFEX NATGAS-USD	+0.0009%	1h	3.0020	−0.017%	$669K	$91K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0002	−0.077%	$626K	$501K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0001	−0.081%	$110K	$386K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0010	−0.050%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9999	−0.087%	$82K	$26K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0064%	1h	3.0015	−0.033%	$6.0M	$5.7M	10x	as long as short
Paradex NG-USD-PERP	+0.0073%	8h	3.0024	−0.005%	$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	2.9991	−0.113%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.083%	$37K	$218K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.083%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0020	−0.017%	$1.5M	$93K	10x	as long as short
KuCoin NATGASUSDTM	+0.0328%	4h	3.0010	−0.050%	$1.0M	$1.0M	20x	as long as short
Aster NATGASUSDT	+0.0376%	4h	3.0040	+0.049%	$263K	$74K	50x	as long as short
HTX NATGAS-USDTshort	+0.0397%	4h	3.0055	+0.100%	$107K	$213K	75x
GRVT NATGAS_USDT_Perp	+0.0444%	4h	3.0019	−0.019%	$12K	$230K	25x	as long as short
GMX NATGAS/USD [ETH-USDC]long	L +0.0473% / S −0.0415%	1h	3.0025	long leg	$92K	—	45x
Gate NG_USDT	+0.0531%	8h	3.0050	+0.083%	$1.5M	$192K	100x	as long as short
BloFin NG-USDT	+0.0547%	8h	3.0040	+0.050%	$81K	$194K	20x	as long as short
OKX NG-USDT-SWAP	+0.0560%	8h	3.0010	−0.050%	$861K	$1.7M	50x	as long as short
Variational Omni NATGAS	+0.0576%	4h	3.0020	−0.017%	$316K	$449K	—	as long as short
edgeX NATGASUSDC	+0.0598%	4h	3.0012	−0.043%	$85K	$212K	20x	as long as short
Binance NATGASUSDT	+0.0598%	4h	3.0025	+0.001%	$10.2M	$28.4M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0856%	1h	3.0038	+0.044%	$56K	$35K	20x	as long as short
Bitget NATGASUSDT	+0.0978%	4h	2.9990	−0.117%	$9.9M	$3.2M	100x	as long as short