Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0916%/8h= −100.3% APRpaid last 24h −0.230%

Price spread now: Kraken Futures against Binance−0.322%54s7-day average +0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs+$74as 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−$1011.011% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.748%+$175 on $10k

Price spread, last 3 days (all we have)+0.342%+$34 · spread now −0.322%, 7d avg +0.056%

Together, before fees+2.090%+$209 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and Kraken Futures is 0.378% cheaper against Binance than usual: you would sell low and buy high (−$38 if the spread goes back to its 7-day average of +0.056%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.748%, so the current rate has only just turned against you. The two prices were read 54 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	Binance ENSUSDT	6.6770	0.0100	pay 0.0100% / 8h	6h 26m	$5.1M	$14.2M	75x
Short	Kraken Futures PF_ENSUSD	6.6555	−0.0816	pay 0.0102% / 1h	26m 27s	$87K	$445K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.322%Rate

Funding earned: −$192.42
Price spread: −0.322% → +0.056%: −$37.77
Slippage, 4 orders: −$81.08
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$331.27
Costs to cover: 1.011%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Kraken Futures: live order book, 41 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, 14 min ago	2.27 bp	15.5 bp −$16	40.2 bp −$402	515.0 bp −$51.5K	doesn't fit
Sell Kraken Futures live order book, 41 min ago	23.63 bp	35.3 bp −$35	doesn't fit	doesn't fit	doesn't fit

ENS on 14 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_ENSUSDshort	−0.0816%	1h	6.6555	−0.322%	$87K	$445K	20x
OKX ENS-USDT-SWAP	+0.0097%	8h	6.6720	−0.075%	$2.3M	$3.5M	20x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6671	−0.149%	$10K	$106K	10x	as long as short
Binance ENSUSDTlong	+0.0100%	8h	6.6770	long leg	$5.1M	$14.2M	75x
Bybit ENSUSDT	+0.0100%	8h	6.6650	−0.180%	$5.4M	$3.8M	75x	as long as short
Gate ENS_USDT	+0.0100%	8h	6.6650	−0.180%	$459K	$567K	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6750	−0.030%	$5.4M	$778K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.6710	−0.090%	$1.8M	$146K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.6720	−0.075%	$2.9M	$1.4M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.6680	−0.135%	—	$7.8M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ENS	+0.0100%	8h	6.6669	−0.151%	$106K	$8K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.6510	−0.389%	$25K	$598K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.6649	−0.181%	$6K	$113K	10x	as long as short
Hyperliquid ENS	+0.0154%	1h	6.6839	+0.103%	$3.0M	$313K	5x	as long as short