Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0086%/8h= +9.4% APRpaid last 24h +0.057%

Price spread now: KuCoin against Hotstuff−0.057%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. KuCoin is 0.057% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.057% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 2.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff NATGAS-PERP	3.0027	0.0048	pay 0.0006% / 1h	59m 19s	$35K	—	20x
Short	KuCoin NATGASUSDTM	3.0010	0.0134	get 0.0067% / 4h	3h 59m	$1.0M	$859K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Hotstuff. 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 HotstuffbpFee KuCoinbpOrdersPrice spread, now −0.057%Rate

Funding earned: $18.06
Price spread: −0.057% → 0.000%: −$5.66
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$4.6
Costs to cover: 0.170%
Break-even: 8.8 days

Slippage unknown: Hotstuff: no order-book sample; KuCoin: live order book, 5 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 Hotstuff no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 5 min ago	1.67 bp	15.6 bp −$16	316.6 bp −$3,166	doesn't fit	doesn't fit

Hotstuff: 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	2.8391	−5.448%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0051	+0.080%	$2K	$2.4M	20x	as long as short
HTX NATGAS-USDT	0.0000%	4h	3.0043	+0.053%	$118K	$221K	75x	as long as short
QFEX NATGAS-USD	+0.0004%	1h	3.0030	+0.010%	$659K	$96K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0039	+0.040%	$631K	$482K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0022	−0.016%	$109K	$271K	5x	as long as short
GRVT NATGAS_USDT_Perp	+0.0038%	4h	3.0020	−0.022%	$18K	$218K	25x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0030	+0.010%	—	$14K	10x	as long as short
Hotstuff NATGAS-PERPlong	+0.0048%	1h	3.0027	long leg	$35K	—	20x
tradeXYZ xyz:NATGAS	+0.0050%	1h	3.0021	−0.020%	$6.0M	$5.3M	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0012	−0.050%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0051%	8h	3.0036	+0.030%	$5K	—	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0006	−0.069%	$69K	$32K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.090%	$37K	$215K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.090%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0040	+0.043%	$1.5M	$90K	10x	as long as short
KuCoin NATGASUSDTMshort	+0.0134%	4h	3.0010	−0.057%	$1.0M	$859K	20x
Aster NATGASUSDT	+0.0138%	4h	3.0040	+0.043%	$264K	$69K	50x	as long as short
Variational Omni NATGAS	+0.0330%	4h	3.0021	−0.020%	$318K	$390K	—	as long as short
Binance NATGASUSDT	+0.0350%	4h	3.0035	+0.026%	$10.4M	$28.6M	100x	as long as short
edgeX NATGASUSDC	+0.0361%	4h	3.0021	−0.020%	$85K	$213K	20x	as long as short
BloFin NG-USDT	+0.0507%	8h	3.0020	−0.023%	$76K	$198K	20x	as long as short
OKX NG-USDT-SWAP	+0.0533%	8h	3.0010	−0.057%	$802K	$1.9M	50x	as long as short
Gate NG_USDT	+0.0565%	8h	3.0050	+0.077%	$1.5M	$192K	100x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0588% / S −0.0602%	1h	3.0035	+0.027%	$88K	—	45x	as long as short
Kraken Futures PF_NATGASUSD	+0.0684%	1h	3.0048	+0.069%	$56K	$35K	20x	as long as short
Bitget NATGASUSDT	+0.0822%	4h	3.0010	−0.057%	$9.9M	$3.0M	100x	as long as short