Funding arb · Price arb /

ENS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.009%

Price spread now: Bitget against KuCoin−0.090%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$212as in the Funding arb table

Net, price: spread back to 7d avg − costs−$208as in the Price arb table

costs, in and out, $10k−$2042.040% of the position

Long on KuCoin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.076%−$8 on $10k

Price spread, last 7 days−0.019%−$2 · spread now −0.090%, 7d avg −0.047%

Together, before fees−0.095%−$10 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: Bitget is 0.043% cheaper against KuCoin than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENSUSDTM	6.6870	0.0100	pay 0.0100% / 8h	3h 59m	$1.8M	$133K	50x
Short	Bitget ENSUSDT	6.6810	0.0100	get 0.0100% / 8h	3h 59m	$2.9M	$1.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against KuCoin. 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 KuCoinbpFee BitgetbpOrdersPrice spread, now −0.090%Rate

Funding earned: $0
Price spread: −0.090% → −0.047%: −$4.29
Slippage, 4 orders: −$180.05
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$208.33
Costs to cover: 2.040%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Bitget: live order book, 3 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 KuCoin live order book, 6 min ago	9.77 bp	47.4 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 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_ENSUSD	−0.0847%	1h	6.6852	−0.027%	$90K	$407K	20x	as long as short
Gate ENS_USDT	+0.0062%	8h	6.6780	−0.135%	$456K	$563K	75x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.6934	+0.096%	$3.0M	$294K	5x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6864	−0.009%	$9K	$105K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6846	−0.037%	$5.2M	$13.5M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6770	−0.150%	$5.4M	$3.7M	75x	as long as short
OKX ENS-USDT-SWAP	+0.0100%	8h	6.6810	−0.090%	$2.3M	$3.3M	20x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6800	−0.105%	$5.6M	$739K	75x	as long as short
KuCoin ENSUSDTMlong	+0.0100%	8h	6.6870	long leg	$1.8M	$133K	50x
Bitget ENSUSDTshort	+0.0100%	8h	6.6810	−0.090%	$2.9M	$1.2M	75x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ENS-USDT	+0.0100%	8h	6.6850	−0.030%	—	$7.8M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.6758	−0.167%	$107K	$9K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.6660	−0.314%	$25K	$599K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.6800	−0.105%	$2K	$124K	10x	as long as short
BloFin ENS-USDT	+0.0105%	8h	6.6830	−0.060%	$299K	$74K	20x	as long as short