Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0275%/8h= −30.1% APRpaid last 24h −0.067%

Price spread now: HTX against OKX+0.067%7-day average +0.093% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$370.369% of the position

Long on OKX Short on HTX

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+0.001%$0 · spread now +0.067%, 7d avg +0.093%

Together, before fees−0.410%−$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and HTX is 0.027% cheaper against OKX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.093%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NG-USDT-SWAP	3.0050	0.0492	pay 0.0492% / 8h	4h 33m	$855K	$1.7M	50x
Short	HTX NATGAS-USDT	3.0070	0.0217	get 0.0109% / 4h	33m 14s	$105K	$212K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against OKX. 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 OKXbpFee HTXbpOrdersPrice spread, now +0.067%Rate

Funding earned: −$57.82
Price spread: +0.067% → +0.093%: −$2.67
Slippage, 4 orders: −$14.86
Fee OKX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$97.34
Costs to cover: 0.369%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; HTX: live order book, 23 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 OKX live order book, 4 min ago	1.66 bp	8.9 bp −$9	20.7 bp −$207	doesn't fit	doesn't fit
Sell HTX live order book, 23 min ago	3.50 bp	11.1 bp −$11	19.9 bp −$199	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	2.8476	−5.238%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0082	+0.106%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0022%	1h	3.0050	0.000%	$659K	$85K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0050	0.000%	$619K	$494K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0038	−0.040%	$110K	$428K	5x	as long as short
Hotstuff NATGAS-PERP	+0.0040%	1h	3.0058	+0.027%	$35K	—	20x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0050	0.000%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0040	−0.033%	$83K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0055%	8h	3.0064	+0.046%	$5K	—	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0045	−0.017%	$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 NATGASUSDT	+0.0100%	1h	3.0000	−0.166%	$37K	$216K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.166%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0060	+0.033%	$1.5M	$94K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0117%	1h	3.0055	+0.017%	$6.0M	$5.9M	10x	as long as short
HTX NATGAS-USDTshort	+0.0217%	4h	3.0070	+0.067%	$105K	$212K	75x
GRVT NATGAS_USDT_Perp	+0.0348%	4h	3.0041	−0.031%	$25K	$227K	25x	as long as short
KuCoin NATGASUSDTM	+0.0374%	4h	3.0040	−0.033%	$1.1M	$1.0M	20x	as long as short
Aster NATGASUSDT	+0.0408%	4h	3.0044	−0.019%	$266K	$73K	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0453% / S −0.0393%	1h	3.0065	+0.050%	$92K	—	45x	as long as short
Gate NG_USDT	+0.0458%	8h	3.0080	+0.100%	$1.5M	$192K	100x	as long as short
BloFin NG-USDT	+0.0468%	8h	3.0050	0.000%	$80K	$188K	20x	as long as short
OKX NG-USDT-SWAPlong	+0.0492%	8h	3.0050	long leg	$855K	$1.7M	50x
Variational Omni NATGAS	+0.0601%	4h	3.0050	−0.001%	$312K	$444K	—	as long as short
Binance NATGASUSDT	+0.0625%	4h	3.0060	+0.033%	$10.2M	$28.6M	100x	as long as short
edgeX NATGASUSDC	+0.0635%	4h	3.0050	−0.001%	$85K	$213K	20x	as long as short
Kraken Futures PF_NATGASUSD	+0.0993%	1h	3.0077	+0.088%	$54K	$34K	20x	as long as short
Bitget NATGASUSDT	+0.1004%	4h	3.0030	−0.067%	$9.9M	$3.3M	100x	as long as short