Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0879%/8h= −96.2% APRpaid last 24h −0.243%

Price spread now: Kraken Futures against Gate−0.184%7-day average +0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs+$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$147as in the Price arb table

costs, in and out, $10k−$1191.186% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.725%+$172 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now −0.184%, 7d avg +0.096%

Together, before fees+1.703%+$170 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$26 a day on $10k at the current rate, and Kraken Futures is 0.280% cheaper against Gate than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of +0.096%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.725%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ENS_USDT	6.6480	0.0025	pay 0.0025% / 8h	4h 50m	$452K	$562K	75x
Short	Kraken Futures PF_ENSUSD	6.6358	−0.0854	pay 0.0107% / 1h	50m 31s	$89K	$410K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now −0.184%Rate

Funding earned: −$184.54
Price spread: −0.184% → +0.096%: −$27.99
Slippage, 4 orders: −$93.58
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$331.1
Costs to cover: 1.186%
Break-even: never at this rate

Slippage from Gate: live order book, 6 min ago; Kraken Futures: live order book, 7 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 Gate live order book, 6 min ago	6.77 bp	25.1 bp −$25	150.0 bp −$1,500	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 7 min ago	16.59 bp	33.3 bp −$33	doesn't fit	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_ENSUSDshort	−0.0854%	1h	6.6358	−0.184%	$89K	$410K	20x
Gate ENS_USDTlong	+0.0025%	8h	6.6480	long leg	$452K	$562K	75x
Aster ENSUSDT	+0.0100%	8h	6.6478	−0.003%	$10K	$102K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6404	−0.115%	$5.2M	$13.4M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6330	−0.226%	$5.3M	$3.6M	75x	as long as short
OKX ENS-USDT-SWAP	+0.0100%	8h	6.6280	−0.301%	$2.3M	$3.3M	20x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6430	−0.075%	$5.4M	$679K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.6510	+0.045%	$1.8M	$132K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.6390	−0.135%	$2.9M	$1.2M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.6370	−0.165%	—	$7.8M	—	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	6.6348	−0.198%	$106K	$8K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.6640	+0.241%	$25K	$599K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.6416	−0.096%	$1K	$118K	10x	as long as short
BloFin ENS-USDT	+0.0113%	8h	6.6450	−0.045%	$301K	$73K	20x	as long as short
Hyperliquid ENS	+0.0194%	1h	6.6529	+0.074%	$3.0M	$301K	5x	as long as short