Funding arb · Price arb /

ENS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.004%

Price spread now: Extended against KuCoin−0.101%7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$147as in the Funding arb table

Net, price: spread back to 7d avg − costs−$145as in the Price arb table

costs, in and out, $10k−$1421.421% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 4 days (all we have)+0.046%+$5 · spread now −0.101%, 7d avg −0.071%

Together, before fees−0.008%+ Points / potential airdropExtended: Active · farm board−$1 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: Extended is 0.030% cheaper against KuCoin than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENSUSDTM	6.5760	0.0100	pay 0.0100% / 8h	4h 51m	$1.7M	$110K	50x
Short	Extended ENS-USD	6.5693	0.0104	get 0.0013% / 1h	51m 58s	$3K	$259K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against KuCoin. 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 KuCoinbpFee ExtendedbpOrdersPrice spread, now −0.101%Rate

Funding earned: $0.84
Price spread: −0.101% → −0.071%: −$3.01
Slippage, 4 orders: −$125.09
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$144.26
Costs to cover: 1.421%
Break-even: 1209.2 days

Slippage from KuCoin: live order book, 2 min ago; Extended: live order book, 53 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, 2 min ago	9.11 bp	64.1 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 53 min ago	2.50 bp	17.6 bp −$18	183.8 bp −$1,838	doesn't fit	doesn't fit

ENS on 15 exchanges

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	−0.0817%	1h	6.5704	−0.085%	$93K	$254K	20x	as long as short
OKX ENS-USDT-SWAP	+0.0006%	8h	6.5660	−0.152%	$2.3M	$2.9M	20x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.5824	+0.097%	$3.0M	$197K	5x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.5709	−0.078%	$10K	$130K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.5721	−0.059%	$5.1M	$11.9M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.5650	−0.167%	$5.3M	$3.0M	75x	as long as short
Gate ENS_USDT	+0.0100%	8h	6.5790	+0.046%	$441K	$580K	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.5710	−0.076%	$6.9M	$920K	75x	as long as short
KuCoin ENSUSDTMlong	+0.0100%	8h	6.5760	long leg	$1.7M	$110K	50x
Bitget ENSUSDT	+0.0100%	8h	6.5710	−0.076%	$2.9M	$1.1M	75x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ENS-USDT	+0.0100%	8h	6.5690	−0.106%	—	$11.2M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.5893	+0.202%	$107K	$20K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.6000	+0.365%	$24K	$604K	50x	as long as short
BloFin ENS-USDT	+0.0103%	8h	6.5850	+0.137%	$292K	$76K	20x	as long as short
Extended ENS-USDshort	+0.0104%	1h	6.5693	−0.101%	$3K	$259K	10x