Funding arb · Price arb /

ENS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: KuCoin against Hyperliquid−0.076%7-day average −0.136% · you buy dearer than you sell

Net, funding: paid 7d − costs−$166as in the Funding arb table

Net, price: spread back to 7d avg − costs−$158as in the Price arb table

costs, in and out, $10k−$1641.638% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 7 days−0.129%−$13 · spread now −0.076%, 7d avg −0.136%

Together, before fees−0.147%+ Points / potential airdropHyperliquid: Season 2 · farm board−$15 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: KuCoin is 0.060% dearer against Hyperliquid than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.136%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ENS	6.7161	0.0100	pay 0.0013% / 1h	16m 01s	$3.1M	$301K	5x
Short	KuCoin ENSUSDTM	6.7110	0.0100	get 0.0100% / 8h	5h 16m	$1.8M	$135K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.076%Rate

Funding earned: $0
Price spread: −0.076% → −0.136%: $5.96
Slippage, 4 orders: −$142.79
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$157.83
Costs to cover: 1.638%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; KuCoin: live order book, 10 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, 5 min ago	2.30 bp	22.9 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 10 min ago	8.22 bp	65.4 bp −$65	619.5 bp −$6,195	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	−0.0930%	1h	6.7037	−0.184%	$90K	$421K	20x	as long as short
Hyperliquid ENSlong	+0.0100%	1h	6.7161	long leg	$3.1M	$301K	5x
Aster ENSUSDT	+0.0100%	8h	6.7105	−0.083%	$11K	$103K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.7091	−0.105%	$5.2M	$13.4M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.7050	−0.165%	$5.4M	$3.6M	75x	as long as short
OKX ENS-USDT-SWAP	+0.0100%	8h	6.7020	−0.210%	$2.3M	$3.3M	20x	as long as short
Gate ENS_USDT	+0.0100%	8h	6.7040	−0.180%	$456K	$564K	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.7100	−0.091%	$5.4M	$731K	75x	as long as short
KuCoin ENSUSDTMshort	+0.0100%	8h	6.7110	−0.076%	$1.8M	$135K	50x
Bitget ENSUSDT	+0.0100%	8h	6.7110	−0.076%	$2.9M	$1.2M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ENS-USDT	+0.0100%	8h	6.7050	−0.165%	—	$7.8M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.7057	−0.155%	$107K	$8K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.7260	+0.147%	$25K	$599K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.7086	−0.112%	$897	$111K	10x	as long as short
BloFin ENS-USDT	+0.0109%	8h	6.7060	−0.150%	$301K	$75K	20x	as long as short