Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0169%/8h= +18.5% APRpaid last 24h +0.014%

Price spread now: Extended against Bybit+0.119%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$780.782% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 on $10k

Price spread, last 4 days (all we have)−0.097%−$10 · spread now +0.119%, 7d avg +0.050%

Together, before fees−0.131%+ Points / potential airdropExtended: Active · farm board−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Extended is 0.069% dearer against Bybit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENSUSDT	6.7620	−0.0137	get 0.0137% / 8h	2h 45m	$5.4M	$3.8M	75x
Short	Extended ENS-USD	6.7700	0.0032	get 0.0004% / 1h	45m 14s	$1K	$181K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.119%Rate

Funding earned: $35.51
Price spread: +0.119% → +0.050%: $6.88
Slippage, 4 orders: −$62.23
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$35.84
Costs to cover: 0.782%
Break-even: 14.1 days

Slippage from Bybit: live order book, 3 min ago; Extended: 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 Bybit live order book, 3 min ago	2.96 bp	20.1 bp −$20	46.7 bp −$467	doesn't fit	doesn't fit
Sell Extended live order book, 41 min ago	2.36 bp	19.3 bp −$19	175.1 bp −$1,751	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	−0.2141%	1h	6.7602	−0.026%	$92K	$436K	20x	as long as short
Gate ENS_USDT	−0.0254%	8h	6.7720	+0.148%	$460K	$576K	75x	as long as short
Variational Omni ENS	−0.0166%	8h	6.7595	−0.036%	$111K	$6K	—	as long as short
Bybit ENSUSDTlong	−0.0137%	8h	6.7620	long leg	$5.4M	$3.8M	75x
ApeX Omni ENSUSDT	−0.0105%	1h	6.7680	+0.089%	$24K	$612K	50x	as long as short
OKX ENS-USDT-SWAP	−0.0052%	8h	6.7630	+0.015%	$2.4M	$3.5M	20x	as long as short
Aster ENSUSDT	−0.0038%	8h	6.7700	+0.118%	$9K	$87K	10x	as long as short
Bitget ENSUSDT	−0.0021%	8h	6.7650	+0.044%	$2.9M	$1.3M	75x	as long as short
Extended ENS-USDshort	+0.0032%	1h	6.7700	+0.119%	$1K	$181K	10x
MEXC ENS_USDT	+0.0035%	8h	6.7710	+0.133%	$5.5M	$822K	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENSUSDT	+0.0036%	8h	6.7698	+0.115%	$5.3M	$13.8M	75x	as long as short
BingX ENS-USDT	+0.0036%	8h	6.7640	+0.030%	—	$3.9M	—	as long as short
BloFin ENS-USDT	+0.0040%	8h	6.7630	+0.015%	$314K	$73K	20x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.7804	+0.272%	$3.1M	$415K	5x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.7700	+0.118%	$1.8M	$140K	50x	as long as short