Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1084%/8h= +118.7% APRpaid last 24h +0.260%

Price spread now: Gate against Kraken Futures+0.040%7-day average −0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs−$279as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$1121.120% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−1.669%−$167 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now +0.040%, 7d avg −0.087%

Together, before fees−1.749%−$175 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$33 a day on $10k at the current rate, and Gate is 0.127% dearer against Kraken Futures than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.087%. Mind the row above: over the last 7 days funding on this pair cost −1.669%, 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	6.5864	−0.1032	get 0.0129% / 1h	21m 22s	$90K	$379K	20x
Short	Gate ENS_USDT	6.5890	0.0052	get 0.0052% / 8h	2h 21m	$457K	$572K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.040%Rate

Funding earned: $227.64
Price spread: +0.040% → −0.087%: $12.7
Slippage, 4 orders: −$87.02
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $128.32
Costs to cover: 1.120%
Break-even: 3.1 days

Slippage from Kraken Futures: live order book, 26 min ago; Gate: live order book, 25 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, 26 min ago	14.38 bp	24.6 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 25 min ago	6.82 bp	28.1 bp −$28	97.7 bp −$977	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	−0.1032%	1h	6.5864	long leg	$90K	$379K	20x
Gate ENS_USDTshort	+0.0052%	8h	6.5890	+0.040%	$457K	$572K	75x
OKX ENS-USDT-SWAP	+0.0071%	8h	6.5880	+0.024%	$2.3M	$3.4M	20x	as long as short
BloFin ENS-USDT	+0.0095%	8h	6.5480	−0.583%	$291K	$78K	20x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6018	+0.233%	$9K	$105K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.5961	+0.148%	$5.1M	$13.6M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.5990	+0.191%	$5.3M	$3.4M	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6000	+0.207%	$6.1M	$870K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.5920	+0.085%	$1.7M	$119K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.5990	+0.191%	$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	6.6000	+0.207%	—	$7.7M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.5309	−0.842%	$104K	$9K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.5590	−0.416%	$24K	$605K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.5943	+0.121%	$637	$258K	10x	as long as short
Hyperliquid ENS	+0.0183%	1h	6.6120	+0.389%	$3.0M	$295K	5x	as long as short