Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0071%/8h= −7.8% APRpaid last 24h −0.025%

Price spread now: Gate against Extended+0.025%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$910.911% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now +0.025%, 7d avg −0.016%

Together, before fees−0.084%+ Points / potential airdropExtended: Active · farm board−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.041% dearer against Extended than usual: you sell high and buy low (spread +0.025% now, against its 7-day average of −0.016%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 46 hours. At the pace of the last 7 days (−0.016% in total) that is about 18 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ENS-USD	6.5694	0.0104	pay 0.0013% / 1h	40m 40s	$3K	$259K	10x
Short	Gate ENS_USDT	6.5710	0.0033	get 0.0033% / 8h	2h 40m	$456K	$566K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.025%Rate

Funding earned: −$14.91
Price spread: +0.025% → −0.016%: $4.09
Slippage, 4 orders: −$71.13
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$101.94
Costs to cover: 0.911%
Break-even: never at this rate

Slippage from Extended: live order book, 6 min ago; Gate: 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, 6 min ago	2.58 bp	18.3 bp −$18	166.2 bp −$1,662	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	6.82 bp	28.1 bp −$28	97.7 bp −$977	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	−0.1033%	1h	6.5801	+0.164%	$90K	$381K	20x	as long as short
Gate ENS_USDTshort	+0.0033%	8h	6.5710	+0.025%	$456K	$566K	75x
OKX ENS-USDT-SWAP	+0.0054%	8h	6.5550	−0.219%	$2.3M	$3.4M	20x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.5719	+0.039%	$9K	$105K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.5675	−0.028%	$5.0M	$13.5M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.5630	−0.097%	$5.3M	$3.4M	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.5700	+0.009%	$6.1M	$868K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.5710	+0.025%	$1.7M	$122K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.5640	−0.082%	$2.9M	$1.2M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.5650	−0.067%	—	$7.7M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ENS	+0.0100%	8h	6.5769	+0.115%	$105K	$9K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.6050	+0.542%	$24K	$603K	50x	as long as short
Extended ENS-USDlong	+0.0104%	1h	6.5694	long leg	$3K	$259K	10x
BloFin ENS-USDT	+0.0123%	8h	6.5850	+0.238%	$295K	$78K	20x	as long as short
Hyperliquid ENS	+0.0253%	1h	6.5826	+0.201%	$3.0M	$294K	5x	as long as short