The Akatsuki could also be the main antagonists. They are after Jinchuriki, and Naruto and Gaara being together would be a big target for them. They'd likely try all sorts of sneaky tactics to capture them, which would put Naruto and Gaara's friendship and skills to the test.
It could be Orochimaru. He's always been after Naruto for his special powers. He might set a trap for Naruto, but Gaara intervenes and saves him. Orochimaru's motives of immortality and his dark jutsu make him a great antagonist for this kind of story.
It could be Orochimaru. He might manipulate Gaara into kidnapping Sakura. Orochimaru could have his own devious plans for Sakura, like using her medical knowledge for his experiments. So, he uses Gaara's power and his somewhat unstable mental state at times to achieve his goal. Then Sakura and Gaara would have to team up to fight against Orochimaru.
Maybe a rogue ninja from Gaara's world who somehow follows him into the DxD highschool. This ninja could have a vendetta against Gaara and use the chaos of the DxD world to try and take him down. They could also team up with some of the devils who dislike Gaara's presence to create more trouble for him.
Another possibility is that there could be a rogue shinigami who doesn't like the fact that one of their kind is raising a human. This rogue shinigami could try to undermine Harry's growth and even try to harm him or the shinigami who is raising him.
Maybe it's another dragon, a malevolent one, who sees the female dragon's act of raising a human as an abomination. He decides to target Natsu to prove a point or to gain power over the female dragon. The malevolent dragon could try to undermine Natsu at every turn, creating numerous challenges for him.
It could be someone from the Naruto universe who doesn't like Naruto's newfound fascination with Aku. For example, Danzo might see Naruto's interest in Aku as a threat to the stability of the village and try to stop Naruto from further exploring Aku - related things. So, Danzo could be the main antagonist in this case.
Maybe a new character could be introduced as the main antagonist. This character could be from a hidden village that has been secretly observing Naruto's growth. They realize his potential as a weapon and plan to steal his power or use him to start a war against other villages.
Krampus himself could be the main antagonist. Since he is a figure known for punishing the naughty, his actions in the Naruto world might be seen as unjust. He could be going after ninjas without really understanding their motives, causing a lot of trouble for the main characters.
It could be a rogue ninja who also has somehow acquired bankai - like powers. This antagonist might be jealous of Naruto's newfound abilities and wants to prove that he is the stronger one. So he starts causing chaos in the ninja world, challenging Naruto at every turn.
It could be a rogue ninja who wants to disrupt Naruto's business to gain power. Maybe he's jealous of Naruto's success and popularity in the business world. He could try to steal Naruto's business secrets or sabotage his operations.