Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0095%/8h= −10.4% APRpaid last 24h +0.067%

Price spread now: OKX against HTX−0.090%7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs$0as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$410.413% of the position

Long on HTX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.411%+$41 on $10k

Price spread, last 3 days (all we have)−0.044%−$4 · spread now −0.090%, 7d avg −0.091%

Together, before fees+0.367%+$37 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.091%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.411%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX NATGAS-USDT	2.9997	0.0260	pay 0.0130% / 4h	3h 46m	$98K	$210K	75x
Short	OKX NG-USDT-SWAP	2.9970	0.0165	get 0.0165% / 8h	7h 46m	$857K	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.090%Rate

Funding earned: −$20.03
Price spread: −0.090% → −0.091%: $0.11
Slippage, 4 orders: −$19.28
Fee HTX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$61.2
Costs to cover: 0.413%
Break-even: never at this rate

Slippage from HTX: live order book, 25 min ago; OKX: live order book, 1 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, 25 min ago	0.17 bp	6.2 bp −$6	11.4 bp −$114	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	1.67 bp	9.8 bp −$10	20.2 bp −$202	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
SunX NATGAS-USDT	0.0000%	4h	3.0001	+0.013%	$2K	$2.6M	20x	as long as short
QFEX NATGAS-USD	+0.0015%	1h	2.9980	−0.057%	$658K	$85K	20x	as long as short
Extended XNG-USD	+0.0032%	1h	2.9968	−0.096%	$110K	$450K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	2.9970	−0.090%	—	$378	10x	as long as short
Aster NATGASUSDT	+0.0046%	4h	2.9960	−0.123%	$265K	$73K	50x	as long as short
Lighter NATGAS	+0.0048%	1h	2.9997	0.000%	$617K	$412K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9973	−0.080%	$5.9M	$6.0M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0001	+0.013%	$84K	$36K	10x	as long as short
Hotstuff NATGAS-PERP	+0.0056%	1h	2.9974	−0.077%	$35K	—	20x	as long as short
Paradex NG-USD-PERP	+0.0058%	8h	2.9993	−0.013%	$5K	—	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NATGAS	+0.0095%	4h	2.9980	−0.055%	$311K	$443K	—	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9980	−0.058%	$68K	$33K	10x	as long as short
KuCoin NATGASUSDTM	+0.0100%	4h	2.9970	−0.090%	$1.0M	$1.2M	20x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	2.9900	−0.323%	$36K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	+0.010%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	2.9990	−0.023%	$1.5M	$95K	10x	as long as short
BloFin NG-USDT	+0.0149%	8h	2.9980	−0.057%	$80K	$189K	20x	as long as short
OKX NG-USDT-SWAPshort	+0.0165%	8h	2.9970	−0.090%	$857K	$1.7M	50x
edgeX NATGASUSDC	+0.0194%	4h	2.9980	−0.055%	$85K	$213K	20x	as long as short
Binance NATGASUSDT	+0.0195%	4h	2.9985	−0.041%	$10.1M	$29.5M	100x	as long as short
Bitget NATGASUSDT	+0.0238%	4h	2.9960	−0.123%	$10.0M	$3.5M	100x	as long as short
HTX NATGAS-USDTlong	+0.0260%	4h	2.9997	long leg	$98K	$210K	75x
GMX NATGAS/USD [ETH-USDC]	L +0.0406% / S −0.0333%	1h	2.9985	−0.040%	$93K	—	45x	as long as short
GRVT NATGAS_USDT_Perp	+0.0418%	4h	2.9970	−0.090%	$25K	$214K	25x	as long as short
Gate NG_USDT	+0.0487%	8h	3.0000	+0.010%	$1.5M	$254K	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1002%	1h	2.9990	−0.023%	$52K	$39K	20x	as long as short