Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h +0.007%

Price spread now: Hyperliquid against BingX+0.250%7-day average +0.176% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$720.724% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 7 days−0.063%−$6 · spread now +0.250%, 7d avg +0.176%

Together, before fees−0.041%+ Points / potential airdropHyperliquid: Season 2 · farm board−$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: Hyperliquid is 0.074% dearer against BingX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.176%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ENS-USDT	6.6770	0.0100	pay 0.0100% / 8h	6h 18m	—	$7.8M	—
Short	Hyperliquid ENS	6.6937	0.0101	get 0.0013% / 1h	18m 51s	$3.0M	$310K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.250%Rate

Funding earned: $0.23
Price spread: +0.250% → +0.176%: $7.43
Slippage, 4 orders: −$53.42
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$64.76
Costs to cover: 0.724%
Break-even: 1939.9 days

Slippage from BingX: live order book, 4 min ago; Hyperliquid: 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 BingX live order book, 4 min ago	5.23 bp	16.2 bp −$16	31.1 bp −$311	218.5 bp −$21.8K	424.9 bp −$212.5K
Sell Hyperliquid live order book, 2 min ago	2.47 bp	16.3 bp −$16	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_ENSUSD	−0.0814%	1h	6.6756	−0.021%	$90K	$447K	20x	as long as short
OKX ENS-USDT-SWAP	+0.0088%	8h	6.6800	+0.045%	$2.3M	$3.5M	20x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6772	+0.003%	$10K	$106K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6836	+0.098%	$5.2M	$14.3M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6760	−0.015%	$5.4M	$3.8M	75x	as long as short
Gate ENS_USDT	+0.0100%	8h	6.6710	−0.090%	$452K	$572K	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6800	+0.045%	$5.4M	$783K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.6820	+0.075%	$1.8M	$151K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.6790	+0.030%	$2.9M	$1.4M	75x	as long as short
BingX ENS-USDTlong	+0.0100%	8h	6.6770	long leg	—	$7.8M	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ENS	+0.0100%	8h	6.6793	+0.034%	$107K	$8K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.6910	+0.210%	$25K	$597K	50x	as long as short
Hyperliquid ENSshort	+0.0101%	1h	6.6937	+0.250%	$3.0M	$310K	5x
Extended ENS-USD	+0.0104%	1h	6.6790	+0.030%	$6K	$113K	10x	as long as short