Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.011%

Price spread now: Gate against ApeX Omni−0.059%96s7-day average −0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as 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−$800.798% of the position

Long on ApeX Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.101%+$10 on $10k

Price spread, last 3 days (all we have)−0.182%−$18 · spread now −0.059%, 7d avg −0.093%

Together, before fees−0.081%−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Gate is 0.034% dearer against ApeX Omni than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.093%. The two prices were read 96 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	6.7820	−0.0276	get 0.0035% / 1h	53m 43s	$24K	$613K	50x
Short	Gate ENS_USDT	6.7780	−0.0236	pay 0.0236% / 8h	2h 53m	$461K	$576K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.059%Rate

Funding earned: $8.5
Price spread: −0.059% → −0.093%: $3.43
Slippage, 4 orders: −$54.77
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$67.84
Costs to cover: 0.798%
Break-even: 62.9 days

Slippage from ApeX Omni: live order book, 34 min ago; Gate: live order book, 32 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, 34 min ago	7.36 bp	14.9 bp −$15	103.5 bp −$1,035	doesn't fit	doesn't fit
Sell Gate live order book, 32 min ago	4.43 bp	28.9 bp −$29	99.3 bp −$993	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	6.7616	−0.301%	$92K	$436K	20x	as long as short
ApeX Omni ENSUSDTlong	−0.0276%	1h	6.7820	long leg	$24K	$613K	50x
Gate ENS_USDTshort	−0.0236%	8h	6.7780	−0.059%	$461K	$576K	75x
Variational Omni ENS	−0.0156%	8h	6.7800	−0.030%	$111K	$6K	—	as long as short
Bybit ENSUSDT	−0.0126%	8h	6.7660	−0.236%	$5.4M	$3.8M	75x	as long as short
OKX ENS-USDT-SWAP	−0.0046%	8h	6.7640	−0.265%	$2.4M	$3.5M	20x	as long as short
Aster ENSUSDT	−0.0026%	8h	6.7814	−0.008%	$9K	$87K	10x	as long as short
Bitget ENSUSDT	−0.0005%	8h	6.7630	−0.280%	$2.9M	$1.3M	75x	as long as short
Extended ENS-USD	+0.0048%	1h	6.7672	−0.218%	$1K	$181K	10x	as long as short
MEXC ENS_USDT	+0.0048%	8h	6.7680	−0.206%	$5.5M	$817K	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ENS-USDT	+0.0048%	8h	6.7720	−0.147%	—	$3.9M	—	as long as short
Binance ENSUSDT	+0.0050%	8h	6.7677	−0.211%	$5.3M	$13.9M	75x	as long as short
BloFin ENS-USDT	+0.0073%	8h	6.7990	+0.251%	$316K	$74K	20x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.7814	−0.009%	$3.1M	$414K	5x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.7830	+0.015%	$1.8M	$141K	50x	as long as short