Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0128%/8h= −14.0% APRpaid last 24h −0.013%

Price spread now: Bybit against Extended−0.114%7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$660.662% of the position

Long on Extended Short on Bybit

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)+0.111%+$11 · spread now −0.114%, 7d avg −0.050%

Together, before fees+0.145%+ Points / potential airdropExtended: Active · farm board+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bybit is 0.064% cheaper against Extended than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.050%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ENS-USD	6.7707	0.0104	pay 0.0013% / 1h	32m 52s	$1K	$181K	10x
Short	Bybit ENSUSDT	6.7630	−0.0024	pay 0.0024% / 8h	32m 52s	$5.4M	$3.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.114%Rate

Funding earned: −$26.8
Price spread: −0.114% → −0.050%: −$6.41
Slippage, 4 orders: −$50.23
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$99.44
Costs to cover: 0.662%
Break-even: never at this rate

Slippage from Extended: live order book, 44 min ago; Bybit: live order book, 5 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, 44 min ago	1.70 bp	16.9 bp −$17	132.5 bp −$1,325	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.95 bp	18.9 bp −$19	44.0 bp −$440	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	−0.1942%	1h	6.7604	−0.152%	$93K	$446K	20x	as long as short
Gate ENS_USDT	−0.0246%	8h	6.7640	−0.099%	$447K	$577K	75x	as long as short
Variational Omni ENS	−0.0093%	8h	6.7672	−0.052%	$111K	$5K	—	as long as short
OKX ENS-USDT-SWAP	−0.0084%	8h	6.7660	−0.070%	$2.4M	$3.5M	20x	as long as short
Bitget ENSUSDT	−0.0041%	8h	6.7650	−0.085%	$2.9M	$1.3M	75x	as long as short
ApeX Omni ENSUSDT	−0.0036%	1h	6.7790	+0.122%	$24K	$608K	50x	as long as short
Bybit ENSUSDTshort	−0.0024%	8h	6.7630	−0.114%	$5.4M	$3.8M	75x
Aster ENSUSDT	+0.0039%	8h	6.7759	+0.077%	$10K	$97K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.7700	−0.011%	$5.5M	$13.7M	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.7700	−0.011%	$5.6M	$857K	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	6.7720	+0.019%	$1.8M	$138K	50x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.7670	−0.055%	—	$3.6M	—	as long as short
Extended ENS-USDlong	+0.0104%	1h	6.7707	long leg	$1K	$181K	10x
BloFin ENS-USDT	+0.0128%	8h	6.7730	+0.034%	$320K	$75K	20x	as long as short
Hyperliquid ENS	+0.0289%	1h	6.7840	+0.196%	$3.1M	$410K	5x	as long as short