Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.1600%/8h= +175.2% APRpaid last 24h −0.007%

Price spread now: SunX against Hotstuff−0.037%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 SunX

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. SunX is 0.037% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.037% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 2 hours of funding at the current rate (+$48 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff NATGAS-PERP	3.0005	−0.1600	get 0.0200% / 1h	43m 50s	$35K	—	20x
Short	SunX NATGAS-USDT	2.9994	0	get 0.0000% / 4h	1h 43m	$2K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.037%Rate

Funding earned: $336
Price spread: −0.037% → 0.000%: −$3.67
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: $319.33
Costs to cover: 0.130%
Break-even: 0.3 days

Slippage unknown: Hotstuff: no order-book sample; SunX: live order book, 6 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 SunX live order book, 6 min ago	500.33 bp	doesn't fit	doesn't fit	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 exchanges

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-PERPlong	−0.1600%	1h	3.0005	long leg	$35K	—	20x
Kraken Futures PF_NATGASUSD	−0.0077%	1h	3.0028	+0.078%	$54K	$46K	20x	as long as short
QFEX NATGAS-USD	−0.0004%	1h	3.0020	+0.050%	$661K	$99K	20x	as long as short
Aster NATGASUSDT	0.0000%	4h	3.0000	−0.017%	$258K	$74K	50x	as long as short
GRVT NATGAS_USDT_Perp	0.0000%	4h	3.0034	+0.095%	$19K	$200K	25x	as long as short
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8355	−5.499%	—	—	—	as long as short
SunX NATGAS-USDTshort	0.0000%	4h	2.9994	−0.037%	$2K	$1.7M	20x
HTX NATGAS-USDT	0.0000%	4h	3.0047	+0.140%	$118K	$220K	75x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0022	+0.057%	$649K	$793K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0018	+0.043%	$122K	$368K	5x	as long as short

Show all 27 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NG-PERP	+0.0046%	1h	3.0030	+0.083%	—	$14K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	3.0017	+0.040%	$6.0M	$4.9M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0013	+0.027%	$84K	$28K	10x	as long as short
Paradex NG-USD-PERP	+0.0051%	8h	3.0025	+0.067%	$5K	—	5x	as long as short
Variational Omni NATGAS	+0.0088%	4h	3.0027	+0.074%	$356K	$426K	—	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9996	−0.029%	$68K	$39K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0100	+0.317%	$37K	$215K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.017%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0030	+0.083%	$1.5M	$94K	10x	as long as short
KuCoin NATGASUSDTM	+0.0130%	4h	3.0000	−0.017%	$1.1M	$798K	20x	as long as short
Binance NATGASUSDT	+0.0169%	4h	3.0036	+0.103%	$10.0M	$32.7M	100x	as long as short
edgeX NATGASUSDC	+0.0177%	4h	3.0026	+0.070%	$85K	$212K	20x	as long as short
Gate NG_USDT	+0.0268%	8h	3.0060	+0.183%	$1.5M	$200K	100x	as long as short
BloFin NG-USDT	+0.0329%	8h	3.0020	+0.050%	$80K	$202K	20x	as long as short
OKX NG-USDT-SWAP	+0.0348%	8h	3.0010	+0.017%	$833K	$2.0M	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0493% / S −0.0486%	1h	3.0025	+0.067%	$88K	—	45x	as long as short
Bitget NATGASUSDT	+0.0708%	4h	3.0000	−0.017%	$9.9M	$2.9M	100x	as long as short