Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0103%/8h= −11.3% APRpaid last 24h +0.013%

Price spread now: Bitget against ApeX Omni−0.294%93s7-day average −0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$700.696% of the position

Long on ApeX Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 3 days (all we have)+0.101%+$10 · spread now −0.294%, 7d avg −0.066%

Together, before fees+0.178%+$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bitget is 0.228% cheaper against ApeX Omni than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of −0.066%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.076%, so the current rate has only just turned against you. The two prices were read 93 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ENSUSDT	6.7980	0.0100	pay 0.0013% / 1h	55m 52s	$24K	$614K	50x
Short	Bitget ENSUSDT	6.7780	−0.0003	pay 0.0003% / 8h	2h 55m	$2.9M	$1.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against ApeX 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 ApeX OmnibpFee BitgetbpOrdersPrice spread, now −0.294%Rate

Funding earned: −$21.63
Price spread: −0.294% → −0.066%: −$22.84
Slippage, 4 orders: −$47.56
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$114.03
Costs to cover: 0.696%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 32 min ago; Bitget: live order book, 2 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 ApeX Omni live order book, 32 min ago	7.36 bp	14.9 bp −$15	103.5 bp −$1,035	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	2.95 bp	21.8 bp −$22	50.0 bp −$500	doesn't fit	doesn't fit

ENS on 15 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
Kraken Futures PF_ENSUSD	−0.2136%	1h	6.7769	−0.310%	$93K	$435K	20x	as long as short
Gate ENS_USDT	−0.0231%	8h	6.7750	−0.338%	$460K	$576K	75x	as long as short
Variational Omni ENS	−0.0160%	8h	6.7781	−0.293%	$111K	$6K	—	as long as short
Bybit ENSUSDT	−0.0125%	8h	6.7750	−0.338%	$5.4M	$3.8M	75x	as long as short
OKX ENS-USDT-SWAP	−0.0043%	8h	6.7740	−0.353%	$2.4M	$3.5M	20x	as long as short
Aster ENSUSDT	−0.0024%	8h	6.7847	−0.196%	$9K	$87K	10x	as long as short
Bitget ENSUSDTshort	−0.0003%	8h	6.7780	−0.294%	$2.9M	$1.3M	75x
BloFin ENS-USDT	+0.0025%	8h	6.7730	−0.368%	$314K	$74K	20x	as long as short
Binance ENSUSDT	+0.0047%	8h	6.7820	−0.235%	$5.3M	$13.9M	75x	as long as short
Extended ENS-USD	+0.0048%	1h	6.7797	−0.270%	$1K	$181K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ENS_USDT	+0.0048%	8h	6.7800	−0.265%	$5.5M	$815K	75x	as long as short
BingX ENS-USDT	+0.0052%	8h	6.7780	−0.294%	—	$3.9M	—	as long as short
Hyperliquid ENS	+0.0100%	1h	6.7956	−0.035%	$3.1M	$420K	5x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.7810	−0.250%	$1.8M	$141K	50x	as long as short
ApeX Omni ENSUSDTlong	+0.0100%	1h	6.7980	long leg	$24K	$614K	50x