Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h +0.001%

Price spread now: Binance against Extended+0.073%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$630.631% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 4 days (all we have)−0.025%−$2 · spread now +0.073%, 7d avg +0.031%

Together, before fees−0.012%+ Points / potential airdropExtended: Active · farm board−$1 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: Binance is 0.042% dearer against Extended than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ENS-USD	6.7611	0.0040	pay 0.0005% / 1h	38m 28s	$1K	$181K	10x
Short	Binance ENSUSDT	6.7660	0.0039	get 0.0039% / 8h	2h 38m	$5.3M	$13.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Extended. 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 ExtendedbpFee BinancebpOrdersPrice spread, now +0.073%Rate

Funding earned: −$0.15
Price spread: +0.073% → +0.031%: $4.18
Slippage, 4 orders: −$48.09
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$59.06
Costs to cover: 0.631%
Break-even: never at this rate

Slippage from Extended: live order book, 48 min ago; Binance: 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 Extended live order book, 48 min ago	2.36 bp	19.6 bp −$20	187.1 bp −$1,871	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	0.74 bp	10.9 bp −$11	33.1 bp −$331	249.9 bp −$25.0K	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	−0.2144%	1h	6.7517	−0.138%	$92K	$436K	20x	as long as short
Gate ENS_USDT	−0.0254%	8h	6.7690	+0.117%	$460K	$576K	75x	as long as short
Variational Omni ENS	−0.0162%	8h	6.7550	−0.090%	$111K	$6K	—	as long as short
Bybit ENSUSDT	−0.0138%	8h	6.7530	−0.120%	$5.4M	$3.8M	75x	as long as short
OKX ENS-USDT-SWAP	−0.0051%	8h	6.7630	+0.028%	$2.4M	$3.5M	20x	as long as short
Aster ENSUSDT	−0.0033%	8h	6.7655	+0.066%	$9K	$88K	10x	as long as short
Bitget ENSUSDT	−0.0020%	8h	6.7580	−0.046%	$2.9M	$1.3M	75x	as long as short
ApeX Omni ENSUSDT	−0.0006%	1h	6.7670	+0.087%	$24K	$612K	50x	as long as short
BingX ENS-USDT	+0.0036%	8h	6.7620	+0.014%	—	$3.8M	—	as long as short
MEXC ENS_USDT	+0.0039%	8h	6.7640	+0.043%	$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 ENSUSDTshort	+0.0039%	8h	6.7660	+0.073%	$5.3M	$13.8M	75x
Extended ENS-USDlong	+0.0040%	1h	6.7611	long leg	$1K	$181K	10x
BloFin ENS-USDT	+0.0066%	8h	6.7620	+0.014%	$312K	$73K	20x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.7790	+0.265%	$3.1M	$415K	5x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.7660	+0.073%	$1.8M	$140K	50x	as long as short