Funding arb · Price arb /

ENS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0083%/8h= −9.1% APRpaid last 24h −0.004%

Price spread now: Aster against Hyperliquid−0.174%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Aster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Aster is 0.174% cheaper against Hyperliquid than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ENS	6.8174	0.0100	pay 0.0013% / 1h	3m 16s	$3.1M	$413K	5x
Short	Aster ENSUSDT	6.8055	0.0017	get 0.0017% / 8h	1h 03m	$14K	$94K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hyperliquid. 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 HyperliquidbpFee AsterbpOrdersPrice spread, now −0.174%Rate

Funding earned: −$17.48
Price spread: −0.174% → 0.000%: −$17.4
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$51.88
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 8 min ago; Aster: no order-book sample. Net counts fees only.

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 Hyperliquid live order book, 8 min ago	5.21 bp	25.6 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.2239%	1h	6.7934	−0.352%	$94K	$447K	20x	as long as short
Gate ENS_USDT	−0.0209%	8h	6.7950	−0.329%	$448K	$577K	75x	as long as short
Variational Omni ENS	−0.0122%	8h	6.7851	−0.474%	$111K	$5K	—	as long as short
OKX ENS-USDT-SWAP	−0.0084%	8h	6.7960	−0.314%	$2.4M	$3.4M	20x	as long as short
Bitget ENSUSDT	−0.0056%	8h	6.8000	−0.255%	$2.9M	$1.3M	75x	as long as short
Bybit ENSUSDT	−0.0054%	8h	6.7990	−0.270%	$5.5M	$3.8M	75x	as long as short
Aster ENSUSDTshort	+0.0017%	8h	6.8055	−0.174%	$14K	$94K	10x
BloFin ENS-USDT	+0.0071%	8h	6.8070	−0.153%	$316K	$73K	20x	as long as short
BingX ENS-USDT	+0.0075%	8h	6.8030	−0.211%	—	$3.7M	—	as long as short
Extended ENS-USD	+0.0080%	1h	6.8042	−0.194%	$1K	$181K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ENS_USDT	+0.0080%	8h	6.8080	−0.138%	$5.6M	$867K	75x	as long as short
Binance ENSUSDT	+0.0084%	8h	6.8056	−0.174%	$5.5M	$13.7M	75x	as long as short
Hyperliquid ENSlong	+0.0100%	1h	6.8174	long leg	$3.1M	$413K	5x
KuCoin ENSUSDTM	+0.0100%	8h	6.8060	−0.167%	$1.8M	$137K	50x	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.7840	−0.490%	$24K	$608K	50x	as long as short