Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0120%/8h= +13.2% APRpaid last 24h +0.004%

Price spread now: Extended against Paradex−0.092%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Extended

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Extended is 0.092% cheaper against Paradex than usual: you would sell low and buy high (spread −0.092% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 2.6 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex NG-USD-PERP	3.0066	0.0096	pay 0.0096% / 8h	3h 04m	$5K	—	5x
Short	Extended XNG-USD	3.0038	0.0216	get 0.0027% / 1h	4m 37s	$110K	$364K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Paradex. 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 ParadexbpFee ExtendedbpOrdersPrice spread, now −0.092%Rate

Funding earned: $25.29
Price spread: −0.092% → 0.000%: −$9.21
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $7.08
Costs to cover: 0.090%
Break-even: 5.0 days

Slippage unknown: Paradex: no order-book sample; Extended: live order book, 48 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 Paradex no order-book sample	—	—	—	—	—
Sell Extended live order book, 48 min ago	0.33 bp	3.5 bp −$3	8.6 bp −$86	doesn't fit	doesn't fit

Paradex: 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 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
SunX NATGAS-USDT	0.0000%	4h	3.0072	+0.021%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0009%	1h	3.0040	−0.086%	$659K	$96K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0045	−0.069%	$629K	$503K	10x	as long as short
Hotstuff NATGAS-PERP	+0.0032%	1h	3.0047	−0.063%	$35K	—	20x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0050	−0.053%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0080	+0.047%	$83K	$26K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0095%	1h	3.0051	−0.049%	$6.0M	$5.6M	10x	as long as short
Paradex NG-USD-PERPlong	+0.0096%	8h	3.0066	long leg	$5K	—	5x
Pacifica NATGAS	+0.0100%	1h	3.0040	−0.086%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.219%	$37K	$218K	50x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.219%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0050	−0.053%	$1.5M	$93K	10x	as long as short
Extended XNG-USDshort	+0.0216%	1h	3.0038	−0.092%	$110K	$364K	5x
KuCoin NATGASUSDTM	+0.0364%	4h	3.0040	−0.086%	$1.0M	$982K	20x	as long as short
Aster NATGASUSDT	+0.0432%	4h	3.0060	−0.019%	$264K	$74K	50x	as long as short
GRVT NATGAS_USDT_Perp	+0.0448%	4h	3.0050	−0.053%	$13K	$223K	25x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0497% / S −0.0441%	1h	3.0055	−0.036%	$92K	—	45x	as long as short
HTX NATGAS-USDT	+0.0506%	4h	3.0073	+0.024%	$107K	$212K	75x	as long as short
Gate NG_USDT	+0.0556%	8h	3.0090	+0.080%	$1.5M	$193K	100x	as long as short
BloFin NG-USDT	+0.0603%	8h	3.0060	−0.019%	$81K	$195K	20x	as long as short
OKX NG-USDT-SWAP	+0.0611%	8h	3.0050	−0.053%	$867K	$1.7M	50x	as long as short
Variational Omni NATGAS	+0.0642%	4h	3.0060	−0.020%	$317K	$449K	—	as long as short
Binance NATGASUSDT	+0.0665%	4h	3.0050	−0.053%	$10.3M	$28.2M	100x	as long as short
edgeX NATGASUSDC	+0.0676%	4h	3.0070	+0.012%	$85K	$212K	20x	as long as short
Kraken Futures PF_NATGASUSD	+0.0855%	1h	3.0067	+0.003%	$56K	$35K	20x	as long as short
Bitget NATGASUSDT	+0.1038%	4h	3.0020	−0.152%	$9.9M	$3.2M	100x	as long as short