Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0911%/8h= −99.8% APRpaid last 24h −0.371%

Price spread now: Kraken Futures against MEXC−0.129%7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs+$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$680.683% of the position

Long on MEXC Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.472%+$147 on $10k

Price spread, last 4 days (all we have)+0.077%+$8 · spread now −0.129%, 7d avg +0.033%

Together, before fees+1.549%+$155 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and Kraken Futures is 0.162% cheaper against MEXC than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.033%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.472%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ENS_USDT	6.6290	0.0100	pay 0.0100% / 8h	4h 09m	$6.9M	$924K	75x
Short	Kraken Futures PF_ENSUSD	6.6204	−0.0811	pay 0.0101% / 1h	9m 22s	$94K	$250K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice spread, now −0.129%Rate

Funding earned: −$191.32
Price spread: −0.129% → +0.033%: −$16.24
Slippage, 4 orders: −$54.25
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$275.82
Costs to cover: 0.683%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Kraken Futures: live order book, 31 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 MEXC live order book, 1 min ago	0.76 bp	7.9 bp −$8	17.0 bp −$170	57.8 bp −$5,785	104.1 bp −$52.0K
Sell Kraken Futures live order book, 31 min ago	10.61 bp	24.5 bp −$24	doesn't fit	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_ENSUSDshort	−0.0811%	1h	6.6204	−0.129%	$94K	$250K	20x
OKX ENS-USDT-SWAP	+0.0016%	8h	6.6210	−0.121%	$2.3M	$2.9M	20x	as long as short
BloFin ENS-USDT	+0.0090%	8h	6.6240	−0.075%	$293K	$76K	20x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.6363	+0.110%	$3.0M	$195K	5x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6229	−0.092%	$9K	$131K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6270	−0.030%	$5.2M	$11.9M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6210	−0.121%	$5.4M	$3.0M	75x	as long as short
Gate ENS_USDT	+0.0100%	8h	6.6220	−0.106%	$443K	$586K	75x	as long as short
MEXC ENS_USDTlong	+0.0100%	8h	6.6290	long leg	$6.9M	$924K	75x
KuCoin ENSUSDTM	+0.0100%	8h	6.6250	−0.060%	$1.7M	$110K	50x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ENSUSDT	+0.0100%	8h	6.6250	−0.060%	$2.9M	$1.1M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.6220	−0.106%	—	$11.2M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.6002	−0.435%	$107K	$20K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.6080	−0.317%	$24K	$600K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.6246	−0.066%	$4K	$258K	10x	as long as short