Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1975%/8h= +216.3% APRpaid last 24h +0.100%

Price spread now: Variational Omni against Kraken Futures−0.110%7-day average −0.137% · you buy dearer than you sell

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−1.656%−$166 on $10k

Price spread, last 3 days (all we have)+0.285%+$29 · spread now −0.110%, 7d avg −0.137%

Together, before fees−1.370%+ Points / potential airdropVariational Omni: Active · farm board−$137 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$59 a day on $10k at the current rate, and Variational Omni is 0.026% dearer against Kraken Futures than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.137%. Mind the row above: over the last 3 days funding on this pair cost −1.656%, 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	6.7692	−0.2138	get 0.0267% / 1h	31m 29s	$92K	$436K	20x
Short	Variational Omni ENS	6.7618	−0.0163	pay 0.0163% / 8h	2h 31m	$111K	$6K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.110%Rate

Funding earned: $414.79
Price spread: −0.110% → −0.137%: $2.64
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $407.43
Costs to cover: 0.100%
Break-even: 0.1 days

Slippage unknown: Kraken Futures: live order book, 56 min ago; Variational Omni: RFQ quote, 57 min ago. 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 Kraken Futures live order book, 56 min ago	6.64 bp	24.1 bp −$24	321.7 bp −$3,217	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 57 min ago	5.65 bp	doesn't fit	55.0 bp −$550	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	−0.2138%	1h	6.7692	long leg	$92K	$436K	20x
Gate ENS_USDT	−0.0230%	8h	6.7720	+0.041%	$460K	$576K	75x	as long as short
Variational Omni ENSshort	−0.0163%	8h	6.7618	−0.110%	$111K	$6K	—
Bybit ENSUSDT	−0.0118%	8h	6.7730	+0.056%	$5.4M	$3.8M	75x	as long as short
OKX ENS-USDT-SWAP	−0.0047%	8h	6.7730	+0.056%	$2.4M	$3.5M	20x	as long as short
Aster ENSUSDT	−0.0024%	8h	6.7829	+0.202%	$9K	$89K	10x	as long as short
Bitget ENSUSDT	−0.0014%	8h	6.7710	+0.026%	$2.9M	$1.3M	75x	as long as short
BingX ENS-USDT	+0.0044%	8h	6.7750	+0.085%	—	$3.7M	—	as long as short
MEXC ENS_USDT	+0.0046%	8h	6.7770	+0.115%	$5.5M	$823K	75x	as long as short
Binance ENSUSDT	+0.0048%	8h	6.7810	+0.174%	$5.3M	$13.8M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended ENS-USD	+0.0048%	1h	6.7764	+0.106%	$1K	$181K	10x	as long as short
BloFin ENS-USDT	+0.0067%	8h	6.7750	+0.085%	$312K	$73K	20x	as long as short
ApeX Omni ENSUSDT	+0.0090%	1h	6.7780	+0.130%	$24K	$611K	50x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.7908	+0.319%	$3.1M	$415K	5x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.7810	+0.174%	$1.8M	$140K	50x	as long as short