Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.010%

Price spread now: Binance against Hyperliquid−0.171%7-day average −0.139% · you buy dearer than you sell

Net, funding: paid 7d − costs−$76as in the Funding arb table

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

costs, in and out, $10k−$700.702% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.055%−$6 on $10k

Price spread, last 7 days+0.046%+$5 · spread now −0.171%, 7d avg −0.139%

Together, before fees−0.010%+ Points / potential airdropHyperliquid: Season 2 · 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 0.031% cheaper against Hyperliquid than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.139%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ENS	6.6762	0.0100	pay 0.0013% / 1h	9m 01s	$3.0M	$292K	5x
Short	Binance ENSUSDT	6.6648	0.0100	get 0.0100% / 8h	3h 09m	$5.1M	$13.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.171%Rate

Funding earned: $0
Price spread: −0.171% → −0.139%: −$3.13
Slippage, 4 orders: −$51.17
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$73.3
Costs to cover: 0.702%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 2 min ago; Binance: live order book, 1 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 Hyperliquid live order book, 2 min ago	1.65 bp	24.3 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	0.75 bp	13.8 bp −$14	38.4 bp −$384	235.1 bp −$23.5K	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	−0.0674%	1h	6.6594	−0.251%	$90K	$386K	20x	as long as short
ApeX Omni ENSUSDT	+0.0018%	1h	6.6830	+0.102%	$25K	$601K	50x	as long as short
Gate ENS_USDT	+0.0045%	8h	6.6570	−0.288%	$456K	$562K	75x	as long as short
OKX ENS-USDT-SWAP	+0.0057%	8h	6.6590	−0.258%	$2.4M	$3.3M	20x	as long as short
Hyperliquid ENSlong	+0.0100%	1h	6.6762	long leg	$3.0M	$292K	5x
Aster ENSUSDT	+0.0100%	8h	6.6590	−0.258%	$10K	$104K	10x	as long as short
Binance ENSUSDTshort	+0.0100%	8h	6.6648	−0.171%	$5.1M	$13.4M	75x
Bybit ENSUSDT	+0.0100%	8h	6.6580	−0.273%	$5.4M	$3.4M	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6600	−0.243%	$5.9M	$809K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.6660	−0.153%	$1.8M	$122K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ENSUSDT	+0.0100%	8h	6.6650	−0.168%	$2.9M	$1.2M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.6590	−0.258%	—	$7.7M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.6623	−0.209%	$107K	$9K	—	as long as short
Extended ENS-USD	+0.0104%	1h	6.6526	−0.353%	$794	$256K	10x	as long as short
BloFin ENS-USDT	+0.0105%	8h	6.6620	−0.213%	$298K	$79K	20x	as long as short