Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0286%/8h= −31.3% APRpaid last 24h −0.042%

Price spread now: ApeX Omni against KuCoin0.000%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$187as in the Funding arb table

Net, price: spread back to 7d avg − costs−$185as in the Price arb table

costs, in and out, $10k−$1811.812% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 4 days (all we have)−0.033%−$3 · spread now 0.000%, 7d avg +0.039%

Together, before fees−0.095%−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and ApeX Omni is 0.039% cheaper against KuCoin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.039%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.062% in total (about -3.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin NATGASUSDTM	3.0000	0.0386	pay 0.0193% / 4h	1h 01m	$1.1M	$1.1M	20x
Short	ApeX Omni NATGASUSDT	3.0000	0.0100	get 0.0013% / 1h	1m 00s	$37K	$214K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against KuCoin. 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 KuCoinbpFee ApeX OmnibpOrdersPrice spread, now 0.000%Rate

Funding earned: −$60.06
Price spread: 0.000% → +0.039%: −$3.89
Slippage, 4 orders: −$159.2
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$245.15
Costs to cover: 1.812%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; ApeX Omni: live order book, 60 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 KuCoin live order book, 4 min ago	1.67 bp	17.6 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 60 min ago	33.33 bp	68.0 bp −$68	270.1 bp −$2,701	doesn't fit	doesn't fit

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	2.8425	−5.250%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0032	+0.107%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0019%	1h	3.0000	0.000%	$658K	$85K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	2.9998	−0.007%	$618K	$495K	10x	as long as short
Hotstuff NATGAS-PERP	+0.0032%	1h	3.0008	+0.027%	$35K	—	20x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0010	+0.033%	—	$378	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0028	+0.093%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0060%	8h	3.0016	+0.054%	$5K	—	5x	as long as short
tradeXYZ xyz:NATGAS	+0.0093%	1h	3.0008	+0.027%	$6.0M	$5.9M	10x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9978	−0.073%	$68K	$33K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni NATGASUSDTshort	+0.0100%	1h	3.0000	0.000%	$37K	$214K	50x
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	0.000%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0000	0.000%	$1.5M	$95K	10x	as long as short
Extended XNG-USD	+0.0128%	1h	2.9991	−0.029%	$110K	$445K	5x	as long as short
HTX NATGAS-USDT	+0.0239%	4h	3.0030	+0.100%	$105K	$216K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0382%	4h	3.0002	+0.008%	$25K	$227K	25x	as long as short
KuCoin NATGASUSDTMlong	+0.0386%	4h	3.0000	long leg	$1.1M	$1.1M	20x
Aster NATGASUSDT	+0.0409%	4h	3.0001	+0.003%	$265K	$73K	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0442% / S −0.0381%	1h	3.0015	+0.050%	$92K	—	45x	as long as short
Gate NG_USDT	+0.0459%	8h	3.0040	+0.133%	$1.5M	$211K	100x	as long as short
OKX NG-USDT-SWAP	+0.0479%	8h	3.0000	0.000%	$853K	$1.7M	50x	as long as short
BloFin NG-USDT	+0.0481%	8h	3.0000	0.000%	$80K	$188K	20x	as long as short
Variational Omni NATGAS	+0.0595%	4h	3.0009	+0.029%	$311K	$444K	—	as long as short
edgeX NATGASUSDC	+0.0617%	4h	2.9999	−0.003%	$85K	$213K	20x	as long as short
Binance NATGASUSDT	+0.0622%	4h	3.0015	+0.050%	$10.2M	$28.9M	100x	as long as short
Bitget NATGASUSDT	+0.0994%	4h	2.9980	−0.067%	$9.9M	$3.4M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1109%	1h	3.0025	+0.085%	$53K	$34K	20x	as long as short