Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0140%/8h= +15.3% APRpaid last 24h +0.063%

Price spread now: KuCoin against Lighter−0.037%7-day average +0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$420.423% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.551%−$55 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now −0.037%, 7d avg +0.073%

Together, before fees−0.603%+ Points / potential airdropLighter: Season 3 · farm board−$60 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.110% cheaper against Lighter than usual: you would sell low and buy high (spread −0.037% now, against its 7-day average of +0.073%). If the spread goes back, that is −$11 on $10k: about 2.6 days of funding at the current rate (+$4 a day). Mind the row above: over the last 7 days funding on this pair cost −0.551%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NATGAS	3.0001	0.0032	pay 0.0004% / 1h	13m 14s	$618K	$445K	10x
Short	KuCoin NATGASUSDTM	2.9990	0.0172	get 0.0086% / 4h	2h 13m	$1.0M	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Lighter. 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 LighterbpFee KuCoinbpOrdersPrice spread, now −0.037%Rate

Funding earned: $29.4
Price spread: −0.037% → +0.073%: −$10.98
Slippage, 4 orders: −$30.29
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$23.87
Costs to cover: 0.423%
Break-even: 12.7 days

Slippage from Lighter: live order book, 47 min ago; KuCoin: live order book, 2 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 Lighter live order book, 47 min ago	1.16 bp	5.3 bp −$5	11.3 bp −$113	71.6 bp −$7,163	doesn't fit
Sell KuCoin live order book, 2 min ago	1.67 bp	16.3 bp −$16	517.6 bp −$5,176	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
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8359	−5.473%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0011	+0.033%	$2K	$2.5M	20x	as long as short
Hotstuff NATGAS-PERP	+0.0008%	1h	2.9987	−0.047%	$35K	—	20x	as long as short
QFEX NATGAS-USD	+0.0019%	1h	2.9990	−0.037%	$658K	$86K	20x	as long as short
Lighter NATGASlong	+0.0032%	1h	3.0001	long leg	$618K	$445K	10x
Vest NG-PERP	+0.0046%	1h	2.9990	−0.037%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	2.9987	−0.047%	$5.9M	$5.9M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0030	+0.097%	$82K	$27K	10x	as long as short
Paradex NG-USD-PERP	+0.0072%	8h	2.9999	−0.006%	$5K	—	5x	as long as short
Extended XNG-USD	+0.0072%	1h	2.9977	−0.081%	$110K	$449K	5x	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	2.9993	−0.027%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.003%	$37K	$218K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.003%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0000	−0.003%	$1.5M	$95K	10x	as long as short
KuCoin NATGASUSDTMshort	+0.0172%	4h	2.9990	−0.037%	$1.0M	$1.1M	20x
Aster NATGASUSDT	+0.0238%	4h	2.9985	−0.054%	$265K	$73K	50x	as long as short
HTX NATGAS-USDT	+0.0247%	4h	3.0005	+0.013%	$98K	$212K	75x	as long as short
OKX NG-USDT-SWAP	+0.0355%	8h	3.0000	−0.003%	$860K	$1.7M	50x	as long as short
Variational Omni NATGAS	+0.0384%	4h	3.0009	+0.028%	$311K	$444K	—	as long as short
GRVT NATGAS_USDT_Perp	+0.0416%	4h	3.0019	+0.059%	$12K	$214K	25x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0423% / S −0.0360%	1h	2.9995	−0.020%	$92K	—	45x	as long as short
Gate NG_USDT	+0.0431%	8h	3.0020	+0.063%	$1.5M	$219K	100x	as long as short
edgeX NATGASUSDC	+0.0440%	4h	3.0009	+0.028%	$85K	$213K	20x	as long as short
Binance NATGASUSDT	+0.0450%	4h	2.9994	−0.022%	$10.2M	$29.1M	100x	as long as short
Bitget NATGASUSDT	+0.0702%	4h	2.9980	−0.070%	$9.9M	$3.4M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0826%	1h	3.0007	+0.020%	$53K	$38K	20x	as long as short