Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h +0.007%

Price spread now: Orderly against Hotstuff+0.090%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on Orderly

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

The price spread pays, funding is against you. Orderly is 0.090% dearer against Hotstuff than usual: you sell high and buy low (spread +0.090% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff NATGAS-PERP	3.0073	0.0144	pay 0.0018% / 1h	40m 12s	$35K	—	20x
Short	Orderly PERP_NATGAS_USDC_mythos	3.0100	0.0100	get 0.0100% / 8h	1h 40m	$3K	$544	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.090%Rate

Funding earned: −$9.24
Price spread: +0.090% → 0.000%: $8.98
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$11.26
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

Hotstuff and Orderly: 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	2.8449	−5.400%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0092	+0.063%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0002%	1h	3.0060	−0.043%	$660K	$96K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0063	−0.033%	$629K	$502K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0059	−0.045%	$111K	$318K	5x	as long as short
HTX NATGAS-USDT	+0.0037%	4h	3.0085	+0.040%	$107K	$205K	75x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0070	−0.010%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0083	+0.033%	$83K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0057%	8h	3.0084	+0.036%	$5K	—	5x	as long as short
tradeXYZ xyz:NATGAS	+0.0070%	1h	3.0069	−0.013%	$6.0M	$5.5M	10x	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	3.0043	−0.100%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.243%	$37K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythosshort	+0.0100%	8h	3.0100	+0.090%	$3K	$544	10x
Phemex NGUSDT	+0.0100%	4h	3.0080	+0.023%	$1.5M	$93K	10x	as long as short
GRVT NATGAS_USDT_Perp	+0.0132%	4h	3.0060	−0.043%	$22K	$210K	25x	as long as short
Hotstuff NATGAS-PERPlong	+0.0144%	1h	3.0073	long leg	$35K	—	20x
KuCoin NATGASUSDTM	+0.0280%	4h	3.0050	−0.076%	$1.0M	$929K	20x	as long as short
Aster NATGASUSDT	+0.0290%	4h	3.0092	+0.062%	$265K	$70K	50x	as long as short
Variational Omni NATGAS	+0.0512%	4h	3.0070	−0.011%	$317K	$432K	—	as long as short
Binance NATGASUSDT	+0.0534%	4h	3.0077	+0.012%	$10.3M	$28.6M	100x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0546% / S −0.0551%	1h	3.0075	+0.007%	$88K	—	45x	as long as short
edgeX NATGASUSDC	+0.0549%	4h	3.0058	−0.048%	$85K	$213K	20x	as long as short
Gate NG_USDT	+0.0634%	8h	3.0100	+0.090%	$1.5M	$196K	100x	as long as short
BloFin NG-USDT	+0.0643%	8h	3.0060	−0.043%	$82K	$195K	20x	as long as short
OKX NG-USDT-SWAP	+0.0651%	8h	3.0080	+0.023%	$875K	$1.8M	50x	as long as short
Bitget NATGASUSDT	+0.0960%	4h	3.0040	−0.110%	$9.9M	$3.1M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0986%	1h	3.0086	+0.044%	$56K	$35K	20x	as long as short