Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0917%/8h= −100.4% APRpaid last 24h −0.232%

Price spread now: Kraken Futures against BingX−0.188%7-day average +0.099% · you buy dearer than you sell

Net, funding: paid 7d − costs+$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1031.033% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.715%+$171 on $10k

Price spread, last 3 days (all we have)+0.227%+$23 · spread now −0.188%, 7d avg +0.099%

Together, before fees+1.942%+$194 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$28 a day on $10k at the current rate, and Kraken Futures is 0.287% cheaper against BingX than usual: you would sell low and buy high (−$29 if the spread goes back to its 7-day average of +0.099%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.715%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ENS-USDT	6.6630	0.0100	pay 0.0100% / 8h	6h 49m	—	$7.8M	—
Short	Kraken Futures PF_ENSUSD	6.6505	−0.0817	pay 0.0102% / 1h	49m 09s	$87K	$447K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.188%Rate

Funding earned: −$192.55
Price spread: −0.188% → +0.099%: −$28.71
Slippage, 4 orders: −$83.34
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$324.61
Costs to cover: 1.033%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; Kraken Futures: live order book, 19 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	5.26 bp	16.9 bp −$17	37.3 bp −$373	206.9 bp −$20.7K	435.7 bp −$217.9K
Sell Kraken Futures live order book, 19 min ago	23.63 bp	35.3 bp −$35	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_ENSUSDshort	−0.0817%	1h	6.6505	−0.188%	$87K	$447K	20x
OKX ENS-USDT-SWAP	+0.0066%	8h	6.6560	−0.105%	$2.3M	$3.4M	20x	as long as short
Variational Omni ENS	+0.0070%	8h	6.6365	−0.398%	$106K	$8K	—	as long as short
BloFin ENS-USDT	+0.0097%	8h	6.6560	−0.105%	$301K	$77K	20x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6580	−0.076%	$13K	$105K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6583	−0.071%	$5.1M	$14.2M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6570	−0.090%	$5.4M	$3.8M	75x	as long as short
Gate ENS_USDT	+0.0100%	8h	6.6550	−0.120%	$460K	$565K	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6590	−0.060%	$5.4M	$775K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.6650	+0.030%	$1.8M	$144K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ENSUSDT	+0.0100%	8h	6.6610	−0.030%	$3.0M	$1.3M	75x	as long as short
BingX ENS-USDTlong	+0.0100%	8h	6.6630	long leg	—	$7.8M	—
ApeX Omni ENSUSDT	+0.0100%	1h	6.6430	−0.300%	$25K	$603K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.6564	−0.099%	$194	$107K	10x	as long as short
Hyperliquid ENS	+0.0234%	1h	6.6711	+0.122%	$3.0M	$355K	5x	as long as short