Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1489%/8h= −163.0% APRpaid last 24h −0.216%

Price spread now: Kraken Futures against KuCoin−0.087%52s7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2152.146% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.745%+$175 on $10k

Price spread, last 3 days (all we have)+0.039%+$4 · spread now −0.087%, 7d avg +0.017%

Together, before fees+1.784%+$178 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$45 a day on $10k at the current rate, and Kraken Futures is 0.103% cheaper against KuCoin than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.017%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.745%, so the current rate has only just turned against you. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENSUSDTM	6.7780	0.0100	pay 0.0100% / 8h	7h 53m	$1.8M	$136K	50x
Short	Kraken Futures PF_ENSUSD	6.7721	−0.1389	pay 0.0174% / 1h	53m 28s	$91K	$447K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.087%Rate

Funding earned: −$312.63
Price spread: −0.087% → +0.017%: −$10.31
Slippage, 4 orders: −$192.63
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$537.57
Costs to cover: 2.146%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Kraken Futures: live order book, 19 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, 3 min ago	9.58 bp	84.7 bp −$85	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 19 min ago	16.32 bp	29.1 bp −$29	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_ENSUSDshort	−0.1389%	1h	6.7721	−0.087%	$91K	$447K	20x
Variational Omni ENS	−0.0036%	8h	6.8006	+0.333%	$111K	$5K	—	as long as short
OKX ENS-USDT-SWAP	−0.0033%	8h	6.7700	−0.118%	$2.4M	$3.5M	20x	as long as short
Bitget ENSUSDT	+0.0021%	8h	6.7670	−0.162%	$2.9M	$1.3M	75x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.7739	−0.061%	$15K	$103K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.7739	−0.060%	$5.4M	$14.0M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.7630	−0.221%	$5.4M	$3.8M	75x	as long as short
Gate ENS_USDT	+0.0100%	8h	6.7670	−0.162%	$456K	$569K	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.7700	−0.118%	$5.5M	$861K	75x	as long as short
KuCoin ENSUSDTMlong	+0.0100%	8h	6.7780	long leg	$1.8M	$136K	50x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ENS-USDT	+0.0100%	8h	6.7720	−0.089%	—	$8.1M	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.7840	+0.089%	$25K	$607K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.7725	−0.081%	$1K	$176K	10x	as long as short
BloFin ENS-USDT	+0.0127%	8h	6.7650	−0.192%	$310K	$75K	20x	as long as short
Hyperliquid ENS	+0.0279%	1h	6.7836	+0.083%	$3.1M	$393K	5x	as long as short