Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0530%/8h= +58.0% APRpaid last 24h +0.089%

Price spread now: Binance against tradeXYZ+0.024%7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$350.352% of the position

Long on tradeXYZ Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.202%+$20 on $10k

Price spread, last 7 days−0.036%−$4 · spread now +0.024%, 7d avg +0.054%

Together, before fees+0.166%+ Points / potential airdroptradeXYZ: Active · farm board+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.030% cheaper against tradeXYZ than usual: you would sell low and buy high (spread +0.024% now, against its 7-day average of +0.054%). If the spread goes back, that is −$3 on $10k: about 5 hours of funding at the current rate (+$16 a day). At the pace of the last 7 days (+0.202% in total) that is about 25 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.202% in total (about 10.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:NATGAS	3.0009	0.0093	pay 0.0012% / 1h	0m 03s	$6.0M	$5.9M	10x
Short	Binance NATGASUSDT	3.0016	0.0623	get 0.0311% / 4h	1h 00m	$10.2M	$28.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against tradeXYZ. 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 tradeXYZbpFee BinancebpOrdersPrice spread, now +0.024%Rate

Funding earned: $111.29
Price spread: +0.024% → +0.054%: −$3.02
Slippage, 4 orders: −$7.18
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: $73.08
Costs to cover: 0.352%
Break-even: 2.4 days

Slippage from tradeXYZ: live order book, 8 min ago; Binance: live order book, 11 min ago.

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 tradeXYZ live order book, 8 min ago	0.33 bp	10.1 bp −$10	11.9 bp −$119	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	1.67 bp	6.7 bp −$7	10.8 bp −$108	38.0 bp −$3,800	131.1 bp −$65.6K

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	2.8425	−5.278%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0032	+0.077%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0019%	1h	3.0000	−0.030%	$658K	$85K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0008	−0.003%	$618K	$495K	10x	as long as short
Hotstuff NATGAS-PERP	+0.0032%	1h	3.0008	−0.003%	$35K	—	20x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0010	+0.003%	—	$378	10x	as long as short
Ondo Perps NATGAS-USD.P	+0.0050%	1h	3.0028	+0.063%	$82K	$26K	10x	as long as short
Paradex NG-USD-PERP	+0.0060%	8h	3.0016	+0.024%	$5K	—	5x	as long as short
tradeXYZ xyz:NATGASlong	+0.0093%	1h	3.0009	long leg	$6.0M	$5.9M	10x
Pacifica NATGAS	+0.0100%	1h	2.9978	−0.103%	$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	−0.030%	$37K	$214K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.030%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0010	+0.003%	$1.5M	$95K	10x	as long as short
Extended XNG-USD	+0.0128%	1h	2.9995	−0.047%	$110K	$445K	5x	as long as short
HTX NATGAS-USDT	+0.0239%	4h	3.0028	+0.063%	$105K	$216K	75x	as long as short
GRVT NATGAS_USDT_Perp	+0.0382%	4h	3.0002	−0.022%	$25K	$227K	25x	as long as short
KuCoin NATGASUSDTM	+0.0386%	4h	2.9990	−0.063%	$1.1M	$1.1M	20x	as long as short
Aster NATGASUSDT	+0.0410%	4h	3.0003	−0.021%	$265K	$73K	50x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0443% / S −0.0382%	1h	3.0015	+0.020%	$92K	—	45x	as long as short
Gate NG_USDT	+0.0460%	8h	3.0040	+0.103%	$1.5M	$211K	100x	as long as short
OKX NG-USDT-SWAP	+0.0480%	8h	3.0000	−0.030%	$853K	$1.7M	50x	as long as short
BloFin NG-USDT	+0.0481%	8h	3.0000	−0.030%	$80K	$188K	20x	as long as short
Variational Omni NATGAS	+0.0595%	4h	3.0009	−0.001%	$311K	$444K	—	as long as short
edgeX NATGASUSDC	+0.0617%	4h	2.9999	−0.033%	$85K	$213K	20x	as long as short
Binance NATGASUSDTshort	+0.0623%	4h	3.0016	+0.024%	$10.2M	$28.9M	100x
Bitget NATGASUSDT	+0.0996%	4h	2.9980	−0.097%	$9.9M	$3.4M	100x	as long as short
Kraken Futures PF_NATGASUSD	+0.1109%	1h	3.0025	+0.053%	$53K	$34K	20x	as long as short