Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0194%/8h= +21.2% APRpaid last 24h +0.063%

Price spread now: Gate against HTX0.000%7-day average −0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$620.617% of the position

Long on HTX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.603%+$60 on $10k

Price spread, last 3 days (all we have)−0.009%−$1 · spread now 0.000%, 7d avg −0.031%

Together, before fees+0.594%+$59 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Gate is 0.031% dearer against HTX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX NATGAS-USDT	2.9960	0	get 0.0000% / 4h	39m 01s	$98K	$214K	75x
Short	Gate NG_USDT	2.9960	0.0194	get 0.0194% / 8h	39m 01s	$1.5M	$285K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against HTX. 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 HTXbpFee GatebpOrdersPrice spread, now 0.000%Rate

Funding earned: $40.74
Price spread: 0.000% → −0.031%: $3.06
Slippage, 4 orders: −$34.71
Fee HTX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$17.91
Costs to cover: 0.617%
Break-even: 10.1 days

Slippage from HTX: live order book, 37 min ago; Gate: live order book, 3 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 HTX live order book, 37 min ago	4.17 bp	10.2 bp −$10	18.0 bp −$180	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	1.67 bp	17.8 bp −$18	52.7 bp −$527	doesn't fit	doesn't fit

NATGAS on 26 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
Hotstuff NATGAS-PERP	−0.0056%	1h	2.9930	−0.100%	$35K	—	20x	as long as short
SunX NATGAS-USDT	0.0000%	4h	2.9961	+0.003%	$2K	$2.6M	20x	as long as short
HTX NATGAS-USDTlong	0.0000%	4h	2.9960	long leg	$98K	$214K	75x
QFEX NATGAS-USD	+0.0030%	1h	2.9930	−0.100%	$657K	$86K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9947	−0.043%	$619K	$416K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9940	−0.067%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9931	−0.097%	$5.9M	$6.0M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	2.9920	−0.134%	$84K	$43K	10x	as long as short
Paradex NG-USD-PERP	+0.0077%	8h	2.9940	−0.068%	$5K	—	5x	as long as short
GRVT NATGAS_USDT_Perp	+0.0082%	4h	2.9933	−0.090%	$13K	$238K	25x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NATGAS	+0.0100%	1h	2.9932	−0.093%	$68K	$33K	10x	as long as short
KuCoin NATGASUSDTM	+0.0100%	4h	2.9930	−0.100%	$1.0M	$1.2M	20x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.200%	$36K	$216K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	2.9900	−0.200%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9950	−0.033%	$1.5M	$97K	10x	as long as short
Extended XNG-USD	+0.0136%	1h	2.9922	−0.125%	$110K	$471K	5x	as long as short
Gate NG_USDTshort	+0.0194%	8h	2.9960	0.000%	$1.5M	$285K	100x
OKX NG-USDT-SWAP	+0.0200%	8h	2.9930	−0.100%	$857K	$1.7M	50x	as long as short
BloFin NG-USDT	+0.0229%	8h	2.9930	−0.100%	$80K	$189K	20x	as long as short
Aster NATGASUSDT	+0.0231%	4h	2.9944	−0.052%	$265K	$105K	50x	as long as short
Variational Omni NATGAS	+0.0265%	4h	2.9931	−0.096%	$311K	$443K	—	as long as short
Binance NATGASUSDT	+0.0336%	4h	2.9940	−0.067%	$10.1M	$30.2M	100x	as long as short
edgeX NATGASUSDC	+0.0373%	4h	2.9931	−0.096%	$85K	$211K	20x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0406% / S −0.0333%	1h	2.9945	−0.050%	$93K	—	45x	as long as short
Bitget NATGASUSDT	+0.0436%	4h	2.9910	−0.167%	$10.0M	$3.9M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1217%	1h	2.9954	−0.018%	$52K	$39K	20x	as long as short