Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0948%/8h= +103.8% APRpaid last 24h +0.263%

Price spread now: Bitget against Kraken Futures+0.136%7-day average −0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$271as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$980.982% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−1.732%−$173 on $10k

Price spread, last 4 days (all we have)+0.126%+$13 · spread now +0.136%, 7d avg −0.068%

Together, before fees−1.606%−$161 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$28 a day on $10k at the current rate, and Bitget is 0.203% dearer against Kraken Futures than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of −0.068%. Mind the row above: over the last 7 days funding on this pair cost −1.732%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ENSUSD	6.6779	−0.0848	get 0.0106% / 1h	0m 34s	$90K	$407K	20x
Short	Bitget ENSUSDT	6.6870	0.0100	get 0.0100% / 8h	4h 00m	$2.9M	$1.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Kraken Futures. 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 Kraken FuturesbpFee BitgetbpOrdersPrice spread, now +0.136%Rate

Funding earned: $199.15
Price spread: +0.136% → −0.068%: $20.32
Slippage, 4 orders: −$76.23
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: $121.24
Costs to cover: 0.982%
Break-even: 2.7 days

Slippage from Kraken Futures: live order book, 57 min ago; Bitget: live order book, 2 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 Kraken Futures live order book, 57 min ago	16.59 bp	28.3 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	5.25 bp	19.2 bp −$19	39.4 bp −$394	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_ENSUSDlong	−0.0848%	1h	6.6779	long leg	$90K	$407K	20x
Gate ENS_USDT	+0.0062%	8h	6.6770	−0.014%	$456K	$563K	75x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6871	+0.137%	$9K	$105K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6850	+0.106%	$5.2M	$13.5M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6860	+0.121%	$5.4M	$3.6M	75x	as long as short
OKX ENS-USDT-SWAP	+0.0100%	8h	6.6840	+0.091%	$2.3M	$3.3M	20x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6810	+0.046%	$5.6M	$739K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.6890	+0.166%	$1.8M	$133K	50x	as long as short
Bitget ENSUSDTshort	+0.0100%	8h	6.6870	+0.136%	$2.9M	$1.2M	75x
BingX ENS-USDT	+0.0100%	8h	6.6870	+0.136%	—	$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	6.6758	−0.032%	$107K	$9K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.6660	−0.179%	$25K	$599K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.6851	+0.108%	$2K	$124K	10x	as long as short
BloFin ENS-USDT	+0.0105%	8h	6.6830	+0.076%	$299K	$74K	20x	as long as short
Hyperliquid ENS	+0.0172%	1h	6.6915	+0.203%	$3.0M	$294K	5x	as long as short