Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.022%

Price spread now: Bybit against Binance−0.103%7-day average −0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$650.649% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 7 days+0.029%+$3 · spread now −0.103%, 7d avg −0.077%

Together, before fees+0.037%+$4 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: Bybit is 0.026% cheaper against Binance than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.077%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ENSUSDT	6.5638	0.0100	pay 0.0100% / 8h	2h 40m	$5.0M	$13.6M	75x
Short	Bybit ENSUSDT	6.5570	0.0100	get 0.0100% / 8h	2h 40m	$5.3M	$3.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now −0.103%Rate

Funding earned: $0
Price spread: −0.103% → −0.077%: −$2.6
Slippage, 4 orders: −$43.85
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$67.46
Costs to cover: 0.649%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; Bybit: 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 Binance live order book, 15 min ago	2.26 bp	12.6 bp −$13	34.1 bp −$341	560.5 bp −$56.0K	doesn't fit
Sell Bybit live order book, 2 min ago	3.80 bp	20.0 bp −$20	47.0 bp −$470	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	−0.1033%	1h	6.5801	+0.249%	$90K	$381K	20x	as long as short
Gate ENS_USDT	+0.0033%	8h	6.5530	−0.164%	$455K	$566K	75x	as long as short
OKX ENS-USDT-SWAP	+0.0054%	8h	6.5580	−0.088%	$2.3M	$3.4M	20x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.5638	0.000%	$9K	$105K	10x	as long as short
Binance ENSUSDTlong	+0.0100%	8h	6.5638	long leg	$5.0M	$13.6M	75x
Bybit ENSUSDTshort	+0.0100%	8h	6.5570	−0.103%	$5.3M	$3.4M	75x
MEXC ENS_USDT	+0.0100%	8h	6.5600	−0.058%	$6.1M	$868K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.5650	+0.018%	$1.7M	$122K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.5610	−0.042%	$2.8M	$1.2M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.5600	−0.058%	—	$7.7M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ENS	+0.0100%	8h	6.5769	+0.200%	$105K	$9K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.6050	+0.628%	$24K	$603K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.5655	+0.026%	$3K	$259K	10x	as long as short
BloFin ENS-USDT	+0.0123%	8h	6.5850	+0.323%	$295K	$78K	20x	as long as short
Hyperliquid ENS	+0.0247%	1h	6.5718	+0.122%	$3.0M	$294K	5x	as long as short