Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h −0.010%

Price spread now: Hotstuff against Orderly+0.040%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Hotstuff is 0.040% dearer against Orderly than usual: you sell high and buy low (spread +0.040% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_NATGAS_USDC_mythos	3.0000	0.0100	pay 0.0100% / 8h	6h 58m	$3K	$544	10x
Short	Hotstuff NATGAS-PERP	3.0012	0.0064	get 0.0008% / 1h	58m 24s	$35K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Orderly. 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 OrderlybpFee HotstuffbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$7.56
Price spread: +0.040% → 0.000%: $4
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$14.56
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Hotstuff: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—
Sell Hotstuff no order-book sample	—	—	—	—	—

Orderly and Hotstuff: 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 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	2.8376	−5.413%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0062	+0.207%	$2K	$2.6M	20x	as long as short
QFEX NATGAS-USD	+0.0015%	1h	3.0020	+0.067%	$658K	$86K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0029	+0.097%	$617K	$429K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0000	+0.002%	$110K	$451K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0020	+0.067%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	3.0006	+0.020%	$5.9M	$5.9M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0047	+0.157%	$84K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0053%	8h	3.0023	+0.078%	$5K	—	5x	as long as short
Hotstuff NATGAS-PERPshort	+0.0064%	1h	3.0012	+0.040%	$35K	—	20x

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NATGAS	+0.0100%	1h	3.0016	+0.053%	$68K	$33K	10x	as long as short
KuCoin NATGASUSDTM	+0.0100%	4h	3.0000	0.000%	$1.0M	$1.1M	20x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	0.000%	$37K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythoslong	+0.0100%	8h	3.0000	long leg	$3K	$544	10x
Phemex NGUSDT	+0.0100%	4h	3.0030	+0.100%	$1.5M	$94K	10x	as long as short
Aster NATGASUSDT	+0.0115%	4h	3.0030	+0.100%	$266K	$73K	50x	as long as short
HTX NATGAS-USDT	+0.0209%	4h	3.0063	+0.210%	$98K	$211K	75x	as long as short
Variational Omni NATGAS	+0.0215%	4h	3.0030	+0.099%	$312K	$443K	—	as long as short
BloFin NG-USDT	+0.0242%	8h	2.9990	−0.033%	$81K	$189K	20x	as long as short
OKX NG-USDT-SWAP	+0.0276%	8h	3.0020	+0.067%	$865K	$1.7M	50x	as long as short
Binance NATGASUSDT	+0.0300%	4h	3.0020	+0.066%	$10.1M	$29.2M	100x	as long as short
edgeX NATGASUSDC	+0.0304%	4h	3.0030	+0.100%	$85K	$213K	20x	as long as short
GRVT NATGAS_USDT_Perp	+0.0338%	4h	3.0024	+0.079%	$25K	$200K	25x	as long as short
Gate NG_USDT	+0.0391%	8h	3.0040	+0.133%	$1.5M	$217K	100x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0415% / S −0.0351%	1h	3.0025	+0.083%	$92K	—	45x	as long as short
Bitget NATGASUSDT	+0.0442%	4h	3.0000	0.000%	$9.9M	$3.5M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0825%	1h	3.0055	+0.183%	$52K	$36K	20x	as long as short