Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0857%/8h= −93.9% APRpaid last 24h −0.172%

Price spread now: HTX against Kraken Futures+0.027%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.672%−$67 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. HTX is 0.027% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.027% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 2 hours. At the pace of the last 7 days (−0.672% in total) that is about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_NATGASUSD	3.0032	0.1109	pay 0.0139% / 1h	23m 40s	$53K	$34K	20x
Short	HTX NATGAS-USDT	3.0040	0.0252	get 0.0126% / 4h	1h 23m	$101K	$213K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Kraken Futures. 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 Kraken FuturesbpFee HTXbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$180.04
Price spread: +0.027% → 0.000%: $2.65
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$199.39
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; HTX: live order book, 38 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell HTX live order book, 38 min ago	4.16 bp	10.5 bp −$10	19.4 bp −$194	doesn't fit	doesn't fit

Kraken Futures: 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 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	3.0042	+0.033%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0019%	1h	3.0010	−0.073%	$659K	$85K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0020	−0.040%	$619K	$494K	10x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0020	−0.040%	—	$378	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0038	+0.020%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0066%	8h	3.0026	−0.019%	$5K	—	5x	as long as short
tradeXYZ xyz:NATGAS	+0.0095%	1h	3.0010	−0.073%	$6.0M	$5.9M	10x	as long as short
Hotstuff NATGAS-PERP	+0.0096%	1h	3.0014	−0.060%	$35K	—	20x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0012	−0.067%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.107%	$37K	$216K	50x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.107%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0020	−0.040%	$1.5M	$95K	10x	as long as short
Extended XNG-USD	+0.0120%	1h	3.0001	−0.102%	$110K	$444K	5x	as long as short
HTX NATGAS-USDTshort	+0.0252%	4h	3.0040	+0.027%	$101K	$213K	75x
KuCoin NATGASUSDTM	+0.0358%	4h	3.0010	−0.073%	$1.1M	$1.1M	20x	as long as short
Aster NATGASUSDT	+0.0378%	4h	3.0017	−0.050%	$265K	$73K	50x	as long as short
GRVT NATGAS_USDT_Perp	+0.0404%	4h	3.0027	−0.018%	$12K	$214K	25x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0434% / S −0.0373%	1h	3.0025	−0.023%	$92K	—	45x	as long as short
OKX NG-USDT-SWAP	+0.0435%	8h	3.0020	−0.040%	$853K	$1.7M	50x	as long as short
BloFin NG-USDT	+0.0443%	8h	2.9990	−0.140%	$81K	$188K	20x	as long as short
Gate NG_USDT	+0.0448%	8h	3.0060	+0.093%	$1.5M	$209K	100x	as long as short
Variational Omni NATGAS	+0.0547%	4h	3.0019	−0.044%	$311K	$444K	—	as long as short
edgeX NATGASUSDC	+0.0579%	4h	3.0019	−0.044%	$85K	$211K	20x	as long as short
Binance NATGASUSDT	+0.0590%	4h	3.0020	−0.040%	$10.2M	$28.9M	100x	as long as short
Bitget NATGASUSDT	+0.0964%	4h	2.9990	−0.140%	$9.9M	$3.4M	100x	as long as short
Kraken Futures PF_NATGASUSDlong	+0.1109%	1h	3.0032	long leg	$53K	$34K	20x