Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0051%/8h= +5.6% APRpaid last 24h +0.016%

Price spread now: Paradex against SunX−0.089%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 Paradex

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 · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.089% cheaper against SunX than usual: you would sell low and buy high (spread −0.089% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 5.8 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NATGAS-USDT	3.0052	0	get 0.0000% / 4h	1h 43m	$2K	$1.7M	20x
Short	Paradex NG-USD-PERP	3.0025	0.0051	get 0.0051% / 8h	5h 43m	$5K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.089%Rate

Funding earned: $10.76
Price spread: −0.089% → 0.000%: −$8.91
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$10.15
Costs to cover: 0.120%
Break-even: 13.6 days

Slippage unknown: SunX: live order book, 6 min ago; Paradex: 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, 6 min ago	500.33 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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 27 exchanges

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	−0.1600%	1h	3.0017	−0.116%	$35K	—	20x	as long as short
Kraken Futures PF_NATGASUSD	−0.0077%	1h	3.0032	−0.067%	$54K	$46K	20x	as long as short
QFEX NATGAS-USD	−0.0004%	1h	3.0020	−0.106%	$661K	$99K	20x	as long as short
Aster NATGASUSDT	0.0000%	4h	3.0001	−0.170%	$258K	$74K	50x	as long as short
GRVT NATGAS_USDT_Perp	0.0000%	4h	3.0034	−0.061%	$19K	$200K	25x	as long as short
gTrade (Gains Network) NATGAS/USD	L 0.0000% / S 0.0000%	1h	2.8355	−5.647%	—	—	—	as long as short
SunX NATGAS-USDTlong	0.0000%	4h	3.0052	long leg	$2K	$1.7M	20x
HTX NATGAS-USDT	0.0000%	4h	3.0050	−0.007%	$118K	$220K	75x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0022	−0.100%	$649K	$793K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	3.0018	−0.112%	$122K	$368K	5x	as long as short

Show all 27 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NG-PERP	+0.0046%	1h	3.0030	−0.073%	—	$14K	10x	as long as short
tradeXYZ xyz:NATGAS	+0.0050%	1h	3.0022	−0.100%	$6.0M	$4.9M	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0013	−0.130%	$84K	$28K	10x	as long as short
Paradex NG-USD-PERPshort	+0.0051%	8h	3.0025	−0.089%	$5K	—	5x
Variational Omni NATGAS	+0.0088%	4h	3.0027	−0.082%	$356K	$426K	—	as long as short
Pacifica NATGAS	+0.0100%	1h	3.0000	−0.173%	$68K	$39K	10x	as long as short
ApeX Omni NATGASUSDT	+0.0100%	1h	3.0000	−0.173%	$37K	$215K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.173%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0030	−0.073%	$1.5M	$93K	10x	as long as short
KuCoin NATGASUSDTM	+0.0130%	4h	3.0000	−0.173%	$1.1M	$797K	20x	as long as short
edgeX NATGASUSDC	+0.0166%	4h	3.0024	−0.095%	$85K	$212K	20x	as long as short
Binance NATGASUSDT	+0.0169%	4h	3.0030	−0.073%	$10.0M	$32.7M	100x	as long as short
Gate NG_USDT	+0.0270%	8h	3.0050	−0.007%	$1.5M	$200K	100x	as long as short
OKX NG-USDT-SWAP	+0.0346%	8h	3.0010	−0.140%	$833K	$2.0M	50x	as long as short
BloFin NG-USDT	+0.0371%	8h	3.0000	−0.173%	$80K	$201K	20x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0493% / S −0.0486%	1h	3.0035	−0.057%	$88K	—	45x	as long as short
Bitget NATGASUSDT	+0.0710%	4h	3.0000	−0.173%	$9.9M	$2.9M	100x	as long as short