Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.008%

Price spread now: Hyperliquid against KuCoin+0.238%7-day average +0.135% · you sell dearer than you buy

Net, funding: paid 7d − costs−$165as in the Funding arb table

Net, price: spread back to 7d avg − costs−$156as in the Price arb table

costs, in and out, $10k−$1671.666% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 7 days−0.019%−$2 · spread now +0.238%, 7d avg +0.135%

Together, before fees0.000%+ Points / potential airdropHyperliquid: Season 2 · farm board$0 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: Hyperliquid is 0.103% dearer against KuCoin than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.135%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENSUSDTM	6.6710	0.0100	pay 0.0100% / 8h	3h 31m	$1.8M	$130K	50x
Short	Hyperliquid ENS	6.6869	0.0100	get 0.0013% / 1h	31m 37s	$3.0M	$293K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.238%Rate

Funding earned: $0
Price spread: +0.238% → +0.135%: $10.34
Slippage, 4 orders: −$145.57
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$156.23
Costs to cover: 1.666%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Hyperliquid: live order book, 10 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, 5 min ago	10.49 bp	59.8 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	1.65 bp	13.4 bp −$13	doesn't fit	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	−0.0673%	1h	6.6680	−0.046%	$90K	$406K	20x	as long as short
ApeX Omni ENSUSDT	−0.0233%	1h	6.6790	+0.120%	$25K	$600K	50x	as long as short
Gate ENS_USDT	+0.0072%	8h	6.6650	−0.090%	$456K	$561K	75x	as long as short
OKX ENS-USDT-SWAP	+0.0085%	8h	6.6720	+0.015%	$2.4M	$3.4M	20x	as long as short
Hyperliquid ENSshort	+0.0100%	1h	6.6869	+0.238%	$3.0M	$293K	5x
Aster ENSUSDT	+0.0100%	8h	6.6693	−0.026%	$9K	$105K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6744	+0.051%	$5.2M	$13.4M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6650	−0.090%	$5.4M	$3.6M	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6730	+0.030%	$5.9M	$755K	75x	as long as short
KuCoin ENSUSDTMlong	+0.0100%	8h	6.6710	long leg	$1.8M	$130K	50x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ENSUSDT	+0.0100%	8h	6.6710	0.000%	$2.9M	$1.2M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.6710	0.000%	—	$7.7M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.6648	−0.092%	$107K	$9K	—	as long as short
Extended ENS-USD	+0.0104%	1h	6.6725	+0.022%	$2K	$120K	10x	as long as short
BloFin ENS-USDT	+0.0128%	8h	6.6690	−0.030%	$299K	$74K	20x	as long as short