Funding arb · Price arb /

NATGAS

RWAall NATGAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0525%/8h= −57.5% APRpaid last 24h −0.090%

Price spread now: Ondo Perps against Variational Omni+0.064%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Ondo Perps

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 airdropVariational Omni: Active · Ondo Perps: Active · farm boardneeds both histories

The price spread pays, funding is against you. Ondo Perps is 0.064% dearer against Variational Omni than usual: you sell high and buy low (spread +0.064% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NATGAS	3.0020	0.0576	pay 0.0288% / 4h	3h 42m	$316K	$449K	—
Short	Ondo Perps NATGAS-USD.P	3.0039	0.0050	get 0.0006% / 1h	42m 01s	$82K	$26K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Variational Omni. 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 Variational OmnibpFee Ondo PerpsbpOrdersPrice spread, now +0.064%Rate

Funding earned: −$110.3
Price spread: +0.064% → 0.000%: $6.41
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$108.89
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 12 min ago; Ondo Perps: 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 Variational Omni RFQ quote, 12 min ago	4.49 bp	doesn't fit	10.7 bp −$107	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	2.8406	−5.376%	—	—	—	as long as short
SunX NATGAS-USDT	0.0000%	4h	3.0031	+0.037%	$2K	$2.4M	20x	as long as short
QFEX NATGAS-USD	+0.0009%	1h	3.0010	−0.032%	$668K	$91K	20x	as long as short
Lighter NATGAS	+0.0032%	1h	3.0005	−0.049%	$626K	$501K	10x	as long as short
Extended XNG-USD	+0.0032%	1h	2.9998	−0.074%	$110K	$395K	5x	as long as short
Vest NG-PERP	+0.0046%	1h	3.0010	−0.032%	—	$14K	10x	as long as short
Ondo Perps NATGAS-USD.Pshort	+0.0050%	1h	3.0039	+0.064%	$82K	$26K	10x
tradeXYZ xyz:NATGAS	+0.0059%	1h	3.0004	−0.052%	$6.0M	$5.7M	10x	as long as short
Paradex NG-USD-PERP	+0.0076%	8h	3.0017	−0.008%	$5K	—	5x	as long as short
Pacifica NATGAS	+0.0100%	1h	2.9983	−0.122%	$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	−0.066%	$37K	$217K	50x	as long as short
Orderly PERP_NATGAS_USDC_mythos	+0.0100%	8h	3.0000	−0.066%	$3K	$544	10x	as long as short
Phemex NGUSDT	+0.0100%	4h	3.0010	−0.032%	$1.5M	$93K	10x	as long as short
Hotstuff NATGAS-PERP	+0.0208%	1h	3.0006	−0.046%	$35K	—	20x	as long as short
KuCoin NATGASUSDTM	+0.0328%	4h	3.0010	−0.032%	$1.0M	$1.0M	20x	as long as short
Aster NATGASUSDT	+0.0376%	4h	3.0040	+0.069%	$264K	$74K	50x	as long as short
HTX NATGAS-USDT	+0.0430%	4h	3.0056	+0.121%	$107K	$214K	75x	as long as short
GMX NATGAS/USD [ETH-USDC]	L +0.0471% / S −0.0413%	1h	3.0015	−0.016%	$92K	—	45x	as long as short
BloFin NG-USDT	+0.0528%	8h	3.0030	+0.034%	$81K	$191K	20x	as long as short
Gate NG_USDT	+0.0529%	8h	3.0050	+0.101%	$1.5M	$192K	100x	as long as short
OKX NG-USDT-SWAP	+0.0556%	8h	3.0010	−0.032%	$861K	$1.7M	50x	as long as short
Variational Omni NATGASlong	+0.0576%	4h	3.0020	long leg	$316K	$449K	—
GRVT NATGAS_USDT_Perp	+0.0596%	4h	3.0017	−0.009%	$12K	$230K	25x	as long as short
Binance NATGASUSDT	+0.0599%	4h	3.0010	−0.032%	$10.2M	$28.4M	100x	as long as short
edgeX NATGASUSDC	+0.0600%	4h	3.0046	+0.087%	$85K	$213K	20x	as long as short
Kraken Futures PF_NATGASUSD	+0.0856%	1h	3.0024	+0.015%	$53K	$33K	20x	as long as short
Bitget NATGASUSDT	+0.0980%	4h	2.9990	−0.099%	$9.9M	$3.2M	100x	as long as short