Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0397%/8h= +43.5% APRpaid last 24h +0.081%

Price spread now: Variational Omni against Paradex−0.047%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 Variational Omni

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 airdropParadex: Active · Variational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.047% cheaper against Paradex than usual: you would sell low and buy high (spread −0.047% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 9 hours of funding at the current rate (+$12 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex NG-USD-PERP	3.0023	0.0062	pay 0.0062% / 8h	5h 47m	$5K	—	5x
Short	Variational Omni NATGAS	3.0009	0.0459	get 0.0230% / 4h	1h 47m	$311K	$444K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.047%Rate

Funding earned: $83.39
Price spread: −0.047% → 0.000%: −$4.66
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $74.74
Costs to cover: 0.040%
Break-even: 0.7 days

Slippage unknown: Paradex: no order-book sample; Variational Omni: RFQ quote, 16 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 Variational Omni RFQ quote, 16 min ago	4.50 bp	doesn't fit	11.4 bp −$114	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
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8384	−5.460%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0041	+0.059%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0019%	1h	3.0010	−0.044%	$658K	$85K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0022	−0.004%	$619K	$445K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	2.9998	−0.083%	$110K	$442K	5x	as long as short
Hotstuff NATGAS-PERP	+0.0040%	1h	3.0013	−0.034%	$35K	—	20x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0010	−0.044%	—	$378	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0008	−0.050%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERPlong	+0.0062%	8h	3.0023	long leg	$5K	—	5x
tradeXYZ xyz:NATGAS	+0.0072%	1h	3.0008	−0.050%	$5.9M	$5.9M	10x	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	3.0012	−0.037%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.077%	$37K	$218K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.077%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0020	−0.010%	$1.5M	$95K	10x	as long as short
HTX NATGAS-USDT	+0.0217%	4h	3.0038	+0.050%	$100K	$214K	75x	as long as short
KuCoin NATGASUSDTM	+0.0274%	4h	3.0010	−0.044%	$1.0M	$1.1M	20x	as long as short
Aster NATGASUSDT	+0.0293%	4h	3.0011	−0.041%	$265K	$73K	50x	as long as short
GRVT NATGAS_USDT_Perp	+0.0364%	4h	3.0010	−0.044%	$12K	$214K	25x	as long as short
OKX NG-USDT-SWAP	+0.0388%	8h	3.0020	−0.010%	$862K	$1.7M	50x	as long as short
Gate NG_USDT	+0.0404%	8h	3.0050	+0.089%	$1.5M	$208K	100x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0427% / S −0.0365%	1h	3.0025	+0.006%	$92K	—	45x	as long as short
Variational Omni NATGASshort	+0.0459%	4h	3.0009	−0.047%	$311K	$444K	—
edgeX NATGASUSDC	+0.0510%	4h	3.0010	−0.044%	$85K	$212K	20x	as long as short
Binance NATGASUSDT	+0.0513%	4h	3.0020	−0.010%	$10.2M	$28.9M	100x	as long as short
Bitget NATGASUSDT	+0.0838%	4h	3.0000	−0.077%	$9.9M	$3.4M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1109%	1h	3.0032	+0.029%	$53K	$36K	20x	as long as short