Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.020%

Price spread now: Hotstuff against SunX−0.057%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 Hotstuff

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 airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.057% cheaper against SunX than usual: you would sell low and buy high (spread −0.057% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 43 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NATGAS-USDT	3.0072	0	get 0.0000% / 4h	2h 26m	$2K	$2.4M	20x
Short	Hotstuff NATGAS-PERP	3.0055	0.0104	get 0.0013% / 1h	26m 00s	$35K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.057%Rate

Funding earned: $21.84
Price spread: −0.057% → 0.000%: −$5.65
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $3.19
Costs to cover: 0.130%
Break-even: 6.0 days

Slippage unknown: SunX: live order book, 11 min ago; 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 SunX live order book, 11 min ago	15.13 bp	19.5 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

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	2.8444	−5.414%	—	—	—	as long as short
SunX NATGAS-USDTlong	0.0000%	4h	3.0072	long leg	$2K	$2.4M	20x
Lighter NATGAS	+0.0032%	1h	3.0056	−0.053%	$629K	$504K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0047	−0.083%	$110K	$334K	5x	as long as short
QFEX NATGAS-USD	+0.0033%	1h	3.0050	−0.073%	$660K	$96K	20x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0050	−0.073%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0062	−0.033%	$83K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0069%	8h	3.0068	−0.013%	$5K	—	5x	as long as short
tradeXYZ xyz:NATGAS	+0.0073%	1h	3.0055	−0.057%	$6.0M	$5.6M	10x	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0035	−0.123%	$68K	$33K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.239%	$37K	$218K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.239%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0040	−0.106%	$1.5M	$93K	10x	as long as short
Hotstuff NATGAS-PERPshort	+0.0104%	1h	3.0055	−0.057%	$35K	—	20x
HTX NATGAS-USDT	+0.0223%	4h	3.0068	−0.013%	$107K	$212K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0240%	4h	3.0041	−0.105%	$13K	$212K	25x	as long as short
KuCoin NATGASUSDTM	+0.0358%	4h	3.0040	−0.106%	$1.0M	$959K	20x	as long as short
Aster NATGASUSDT	+0.0393%	4h	3.0051	−0.070%	$264K	$74K	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0520% / S −0.0467%	1h	3.0055	−0.057%	$92K	—	45x	as long as short
Variational Omni NATGAS	+0.0592%	4h	3.0050	−0.073%	$317K	$432K	—	as long as short
Gate NG_USDT	+0.0593%	8h	3.0080	+0.027%	$1.5M	$195K	100x	as long as short
Binance NATGASUSDT	+0.0623%	4h	3.0050	−0.073%	$10.3M	$28.3M	100x	as long as short
edgeX NATGASUSDC	+0.0651%	4h	3.0040	−0.106%	$85K	$213K	20x	as long as short
OKX NG-USDT-SWAP	+0.0658%	8h	3.0050	−0.073%	$867K	$1.7M	50x	as long as short
BloFin NG-USDT	+0.0670%	8h	3.0040	−0.106%	$82K	$195K	20x	as long as short
Bitget NATGASUSDT	+0.1016%	4h	3.0030	−0.140%	$9.9M	$3.2M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1181%	1h	3.0075	+0.009%	$56K	$35K	20x	as long as short