Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0147%/8h= +16.1% APRpaid last 24h −0.004%

Price spread now: Bybit against ApeX Omni−0.148%99s7-day average −0.135% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as 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−$640.645% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.120%+$12 on $10k

Price spread, last 3 days (all we have)+0.019%+$2 · spread now −0.148%, 7d avg −0.135%

Together, before fees+0.140%+$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.135%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate. The two prices were read 99 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	6.7670	−0.0291	get 0.0036% / 1h	47m 46s	$24K	$613K	50x
Short	Bybit ENSUSDT	6.7570	−0.0145	pay 0.0145% / 8h	2h 47m	$5.4M	$3.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.148%Rate

Funding earned: $30.82
Price spread: −0.148% → −0.135%: −$1.32
Slippage, 4 orders: −$43.45
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$34.96
Costs to cover: 0.645%
Break-even: 14.9 days

Slippage from ApeX Omni: live order book, 40 min ago; Bybit: live order book, 5 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, 40 min ago	7.36 bp	14.9 bp −$15	103.5 bp −$1,035	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.22 bp	20.4 bp −$20	58.1 bp −$581	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	−0.2141%	1h	6.7600	−0.104%	$92K	$436K	20x	as long as short
ApeX Omni ENSUSDTlong	−0.0291%	1h	6.7670	long leg	$24K	$613K	50x
Gate ENS_USDT	−0.0261%	8h	6.7680	+0.015%	$460K	$576K	75x	as long as short
Variational Omni ENS	−0.0161%	8h	6.7510	−0.236%	$111K	$6K	—	as long as short
Bybit ENSUSDTshort	−0.0145%	8h	6.7570	−0.148%	$5.4M	$3.8M	75x
OKX ENS-USDT-SWAP	−0.0054%	8h	6.7620	−0.074%	$2.4M	$3.5M	20x	as long as short
Aster ENSUSDT	−0.0039%	8h	6.7692	+0.032%	$9K	$87K	10x	as long as short
Bitget ENSUSDT	−0.0020%	8h	6.7620	−0.074%	$2.9M	$1.3M	75x	as long as short
BloFin ENS-USDT	+0.0031%	8h	6.7590	−0.118%	$312K	$73K	20x	as long as short
Extended ENS-USD	+0.0032%	1h	6.7613	−0.085%	$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
Binance ENSUSDT	+0.0034%	8h	6.7660	−0.014%	$5.3M	$13.9M	75x	as long as short
MEXC ENS_USDT	+0.0036%	8h	6.7670	0.000%	$5.5M	$820K	75x	as long as short
BingX ENS-USDT	+0.0049%	8h	6.7630	−0.059%	—	$3.9M	—	as long as short
Hyperliquid ENS	+0.0100%	1h	6.7793	+0.182%	$3.1M	$415K	5x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.7690	+0.030%	$1.8M	$140K	50x	as long as short