Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0355%/8h= +38.9% APRpaid last 24h +0.170%

Price spread now: GMX against SunX−0.123%7-day average — · you buy dearer than you sell

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

Long on SunX Short on GMX

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—needs both histories

Funding pays, the price is against you. GMX is 0.123% cheaper against SunX than usual: you would sell low and buy high (spread −0.123% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 28 hours of funding at the current rate (+$11 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NATGAS-USDT	3.0062	0	get 0.0000% / 4h	2h 33m	$2K	$2.5M	20x
Short	GMX NATGAS/USD [ETH-USDC]	3.0025	L +0.0419% / S −0.0355%	get 0.0044% / 1h	33m 44s	$92K	—	45x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against SunX. 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 SunXbpFee GMXbpOrdersPrice spread, now −0.123%Rate

Funding earned: $74.61
Price spread: −0.123% → 0.000%: −$12.31
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $42.3
Costs to cover: 0.200%
Break-even: 3.0 days

Slippage unknown: SunX: live order book, 3 min ago; GMX: 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 SunX live order book, 3 min ago	15.14 bp	19.5 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	2.8381	−5.592%	—	—	—	as long as short
SunX NATGAS-USDTlong	0.0000%	4h	3.0062	long leg	$2K	$2.5M	20x
QFEX NATGAS-USD	+0.0019%	1h	3.0030	−0.106%	$658K	$86K	20x	as long as short
Hotstuff NATGAS-PERP	+0.0024%	1h	3.0032	−0.100%	$35K	—	20x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0020	−0.140%	—	$378	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	3.0017	−0.150%	$5.9M	$5.9M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0061	−0.003%	$82K	$27K	10x	as long as short
Paradex NG-USD-PERP	+0.0074%	8h	3.0066	+0.013%	$5K	—	5x	as long as short
Lighter NATGAS	+0.0080%	1h	3.0029	−0.110%	$618K	$445K	10x	as long as short
Extended XNG-USD	+0.0096%	1h	3.0003	−0.195%	$110K	$450K	5x	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	3.0028	−0.113%	$68K	$33K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.206%	$37K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.206%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0030	−0.106%	$1.5M	$95K	10x	as long as short
KuCoin NATGASUSDTM	+0.0102%	4h	3.0020	−0.140%	$1.0M	$1.1M	20x	as long as short
Aster NATGASUSDT	+0.0187%	4h	3.0013	−0.164%	$265K	$73K	50x	as long as short
HTX NATGAS-USDT	+0.0280%	4h	3.0039	−0.077%	$98K	$213K	75x	as long as short
Variational Omni NATGAS	+0.0316%	4h	3.0040	−0.072%	$312K	$443K	—	as long as short
OKX NG-USDT-SWAP	+0.0333%	8h	3.0020	−0.140%	$868K	$1.7M	50x	as long as short
edgeX NATGASUSDC	+0.0364%	4h	3.0040	−0.073%	$85K	$212K	20x	as long as short
Binance NATGASUSDT	+0.0390%	4h	3.0031	−0.103%	$10.1M	$29.1M	100x	as long as short
GRVT NATGAS_USDT_Perp	+0.0406%	4h	3.0040	−0.074%	$12K	$214K	25x	as long as short
GMX NATGAS/USD [ETH-USDC]short	L +0.0419% / S −0.0355%	1h	3.0025	−0.123%	$92K	—	45x
Gate NG_USDT	+0.0426%	8h	3.0050	−0.040%	$1.5M	$219K	100x	as long as short
Bitget NATGASUSDT	+0.0620%	4h	3.0010	−0.173%	$9.9M	$3.5M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.0825%	1h	3.0047	−0.051%	$54K	$37K	20x	as long as short