Funding arb · Price arb /

ENS

all ENS markets

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 0.000%

Price spread now: Bybit against OKX+0.045%7-day average −0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$700.704% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.026%+$3 on $10k

Price spread, last 7 days−0.072%−$7 · spread now +0.045%, 7d avg −0.050%

Together, before fees−0.045%−$5 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: Bybit is 0.095% dearer against OKX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ENS-USDT-SWAP	6.7020	0.0100	pay 0.0100% / 8h	5h 16m	$2.3M	$3.3M	20x
Short	Bybit ENSUSDT	6.7050	0.0100	get 0.0100% / 8h	5h 16m	$5.4M	$3.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against OKX. 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 OKXbpFee BybitbpOrdersPrice spread, now +0.045%Rate

Funding earned: $0
Price spread: +0.045% → −0.050%: $9.46
Slippage, 4 orders: −$49.4
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$60.94
Costs to cover: 0.704%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Bybit: live order book, 2 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 OKX live order book, 1 min ago	1.49 bp	14.6 bp −$15	73.5 bp −$735	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	4.48 bp	19.0 bp −$19	47.8 bp −$478	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	−0.0930%	1h	6.7037	+0.026%	$90K	$421K	20x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.7161	+0.210%	$3.1M	$301K	5x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.7105	+0.127%	$11K	$103K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.7091	+0.105%	$5.2M	$13.4M	75x	as long as short
Bybit ENSUSDTshort	+0.0100%	8h	6.7050	+0.045%	$5.4M	$3.6M	75x
OKX ENS-USDT-SWAPlong	+0.0100%	8h	6.7020	long leg	$2.3M	$3.3M	20x
Gate ENS_USDT	+0.0100%	8h	6.7040	+0.030%	$456K	$564K	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.7100	+0.119%	$5.4M	$731K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.7110	+0.134%	$1.8M	$135K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.7110	+0.134%	$2.9M	$1.2M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ENS-USDT	+0.0100%	8h	6.7050	+0.045%	—	$7.8M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.7057	+0.055%	$107K	$8K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.7260	+0.358%	$25K	$599K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.7086	+0.099%	$897	$111K	10x	as long as short
BloFin ENS-USDT	+0.0109%	8h	6.7060	+0.060%	$301K	$75K	20x	as long as short