Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.012%

Price spread now: Hyperliquid against ApeX Omni−0.079%65s7-day average +0.100% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as 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−$810.809% of the position

Long on ApeX Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.153%+$15 on $10k

Price spread, last 3 days (all we have)+0.112%+$11 · spread now −0.079%, 7d avg +0.100%

Together, before fees+0.265%+ Points / potential airdropHyperliquid: Season 2 · farm board+$26 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.180% cheaper against ApeX Omni than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.100%. The two prices were read 65 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	6.7990	0.0100	pay 0.0013% / 1h	16m 16s	$24K	$611K	50x
Short	Hyperliquid ENS	6.7936	0.0100	get 0.0013% / 1h	16m 16s	$3.1M	$415K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.079%Rate

Funding earned: $0
Price spread: −0.079% → +0.100%: −$17.98
Slippage, 4 orders: −$61.95
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$98.92
Costs to cover: 0.809%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 7 min ago; Hyperliquid: 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, 7 min ago	6.62 bp	15.0 bp −$15	112.2 bp −$1,122	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	1.54 bp	24.9 bp −$25	doesn't fit	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	−0.2137%	1h	6.7732	−0.379%	$92K	$436K	20x	as long as short
Gate ENS_USDT	−0.0202%	8h	6.7800	−0.279%	$461K	$576K	75x	as long as short
Variational Omni ENS	−0.0134%	8h	6.7931	−0.086%	$112K	$6K	—	as long as short
Bybit ENSUSDT	−0.0110%	8h	6.7740	−0.368%	$5.4M	$3.8M	75x	as long as short
OKX ENS-USDT-SWAP	−0.0047%	8h	6.7720	−0.397%	$2.4M	$3.4M	20x	as long as short
Bitget ENSUSDT	−0.0032%	8h	6.7960	−0.044%	$2.9M	$1.3M	75x	as long as short
Aster ENSUSDT	−0.0008%	8h	6.7874	−0.170%	$8K	$89K	10x	as long as short
BloFin ENS-USDT	+0.0037%	8h	6.7810	−0.265%	$310K	$73K	20x	as long as short
Extended ENS-USD	+0.0056%	1h	6.7761	−0.337%	$1K	$181K	10x	as long as short
MEXC ENS_USDT	+0.0059%	8h	6.7770	−0.324%	$5.5M	$832K	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENSUSDT	+0.0059%	8h	6.7770	−0.324%	$5.3M	$13.8M	75x	as long as short
BingX ENS-USDT	+0.0064%	8h	6.7780	−0.309%	—	$3.7M	—	as long as short
Hyperliquid ENSshort	+0.0100%	1h	6.7936	−0.079%	$3.1M	$415K	5x
KuCoin ENSUSDTM	+0.0100%	8h	6.7930	−0.088%	$1.8M	$139K	50x	as long as short
ApeX Omni ENSUSDTlong	+0.0100%	1h	6.7990	long leg	$24K	$611K	50x