Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0082%/8h= −9.0% APRpaid last 24h +0.013%

Price spread now: ApeX Omni against Bybit+0.391%7-day average +0.133% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$660.659% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 4 days (all we have)−0.282%−$28 · spread now +0.391%, 7d avg +0.133%

Together, before fees−0.384%−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.257% dearer against Bybit than usual: you sell high and buy low (spread +0.391% now, against its 7-day average of +0.133%): +$26 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENSUSDT	6.6570	0.0100	pay 0.0100% / 8h	3h 09m	$5.4M	$3.4M	75x
Short	ApeX Omni ENSUSDT	6.6830	0.0018	get 0.0002% / 1h	9m 38s	$25K	$601K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now +0.391%Rate

Funding earned: −$17.27
Price spread: +0.391% → +0.133%: $25.71
Slippage, 4 orders: −$44.88
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$57.44
Costs to cover: 0.659%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; ApeX Omni: live order book, 43 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 Bybit live order book, 3 min ago	3.00 bp	17.7 bp −$18	49.8 bp −$498	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 43 min ago	6.69 bp	15.3 bp −$15	105.7 bp −$1,057	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	−0.0674%	1h	6.6575	+0.007%	$90K	$386K	20x	as long as short
ApeX Omni ENSUSDTshort	+0.0018%	1h	6.6830	+0.391%	$25K	$601K	50x
Gate ENS_USDT	+0.0045%	8h	6.6650	+0.120%	$456K	$562K	75x	as long as short
OKX ENS-USDT-SWAP	+0.0057%	8h	6.6550	−0.030%	$2.4M	$3.3M	20x	as long as short
BloFin ENS-USDT	+0.0089%	8h	6.6750	+0.270%	$299K	$79K	20x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.6771	+0.302%	$3.0M	$292K	5x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6642	+0.108%	$10K	$103K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6742	+0.258%	$5.2M	$13.4M	75x	as long as short
Bybit ENSUSDTlong	+0.0100%	8h	6.6570	long leg	$5.4M	$3.4M	75x
MEXC ENS_USDT	+0.0100%	8h	6.6790	+0.330%	$5.9M	$809K	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ENSUSDTM	+0.0100%	8h	6.6630	+0.090%	$1.8M	$122K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.6680	+0.165%	$2.9M	$1.2M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.6600	+0.045%	—	$7.7M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.6623	+0.079%	$107K	$9K	—	as long as short
Extended ENS-USD	+0.0104%	1h	6.6707	+0.207%	$794	$256K	10x	as long as short