Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: SunX against Orderly+0.273%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 SunX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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. SunX is 0.273% dearer against Orderly than usual: you sell high and buy low (spread +0.273% now, against zero (this spread has no 7-day history yet)): +$27 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 9.1 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	32m 39s	$3K	$544	10x
Short	SunX NATGAS-USDT	3.0082	0	get 0.0000% / 4h	32m 39s	$2K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.273%Rate

Funding earned: −$21
Price spread: +0.273% → 0.000%: $27.33
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee SunX: 4 bp × 2 orders: −$8
Net: −$7.67
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; SunX: live order book, 4 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 Orderly no order-book sample	—	—	—	—	—
Sell SunX live order book, 4 min ago	15.13 bp	28.1 bp −$28	doesn't fit	doesn't fit	doesn't fit

Orderly: 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
Hotstuff NATGAS-PERP	−0.0088%	1h	3.0072	+0.240%	$35K	—	20x	as long as short
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8450	−5.167%	—	—	—	as long as short
SunX NATGAS-USDTshort	0.0000%	4h	3.0082	+0.273%	$2K	$2.4M	20x
HTX NATGAS-USDT	0.0000%	4h	3.0073	+0.243%	$117K	$216K	75x	as long as short
QFEX NATGAS-USD	+0.0004%	1h	3.0070	+0.233%	$660K	$96K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0079	+0.263%	$632K	$494K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0067	+0.225%	$111K	$271K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0070	+0.233%	—	$14K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	3.0078	+0.260%	$6.0M	$5.2M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0088	+0.293%	$83K	$26K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex NG-USD-PERP	+0.0051%	8h	3.0079	+0.262%	$5K	—	5x	as long as short
GRVT NATGAS_USDT_Perp	+0.0076%	4h	3.0050	+0.167%	$15K	$222K	25x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0071	+0.235%	$70K	$32K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	0.000%	$37K	$216K	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	3.0080	+0.267%	$1.5M	$91K	10x	as long as short
KuCoin NATGASUSDTM	+0.0168%	4h	3.0060	+0.200%	$1.0M	$885K	20x	as long as short
Aster NATGASUSDT	+0.0185%	4h	3.0066	+0.220%	$265K	$65K	50x	as long as short
Variational Omni NATGAS	+0.0402%	4h	3.0069	+0.230%	$319K	$390K	—	as long as short
Binance NATGASUSDT	+0.0420%	4h	3.0070	+0.233%	$10.4M	$28.5M	100x	as long as short
edgeX NATGASUSDC	+0.0441%	4h	3.0054	+0.180%	$85K	$212K	20x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0577% / S −0.0589%	1h	3.0075	+0.250%	$88K	—	45x	as long as short
Gate NG_USDT	+0.0578%	8h	3.0090	+0.300%	$1.5M	$195K	100x	as long as short
BloFin NG-USDT	+0.0615%	8h	3.0060	+0.200%	$82K	$198K	20x	as long as short
OKX NG-USDT-SWAP	+0.0619%	8h	3.0050	+0.167%	$854K	$1.8M	50x	as long as short
Kraken Futures PF_NATGASUSD	+0.0860%	1h	3.0090	+0.301%	$56K	$36K	20x	as long as short
Bitget NATGASUSDT	+0.0868%	4h	3.0040	+0.133%	$9.9M	$3.0M	100x	as long as short