Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0183%/8h= +20.1% APRpaid last 24h +0.033%

Price spread now: Extended against Variational Omni+0.198%7-day average +0.041% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Extended

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.054%+$5 on $10k

Price spread, last 3 days (all we have)−0.330%−$33 · spread now +0.198%, 7d avg +0.041%

Together, before fees−0.276%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board−$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Extended is 0.157% dearer against Variational Omni than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.041%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.054% in total (about 6.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ENS	6.7744	−0.0135	get 0.0135% / 8h	1h 54m	$111K	$6K	—
Short	Extended ENS-USD	6.7878	0.0048	get 0.0006% / 1h	54m 56s	$1K	$181K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Variational Omni. 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 Variational OmnibpFee ExtendedbpOrdersPrice spread, now +0.198%Rate

Funding earned: $38.49
Price spread: +0.198% → +0.041%: $15.69
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $49.18
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 29 min ago; Extended: live order book, 26 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 29 min ago	6.39 bp	doesn't fit	59.8 bp −$598	doesn't fit	doesn't fit
Sell Extended live order book, 26 min ago	3.09 bp	21.0 bp −$21	126.9 bp −$1,269	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	−0.2242%	1h	6.7853	+0.160%	$92K	$436K	20x	as long as short
Gate ENS_USDT	−0.0246%	8h	6.7740	−0.006%	$461K	$562K	75x	as long as short
Variational Omni ENSlong	−0.0135%	8h	6.7744	long leg	$111K	$6K	—
Bybit ENSUSDT	−0.0085%	8h	6.7870	+0.186%	$5.4M	$3.8M	75x	as long as short
Bitget ENSUSDT	−0.0066%	8h	6.7840	+0.141%	$2.9M	$1.3M	75x	as long as short
OKX ENS-USDT-SWAP	−0.0060%	8h	6.7860	+0.171%	$2.4M	$3.5M	20x	as long as short
Aster ENSUSDT	−0.0025%	8h	6.7825	+0.119%	$8K	$89K	10x	as long as short
BingX ENS-USDT	+0.0036%	8h	6.7840	+0.141%	—	$3.7M	—	as long as short
MEXC ENS_USDT	+0.0038%	8h	6.7890	+0.215%	$5.5M	$832K	75x	as long as short
Binance ENSUSDT	+0.0044%	8h	6.7890	+0.215%	$5.3M	$13.8M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended ENS-USDshort	+0.0048%	1h	6.7878	+0.198%	$1K	$181K	10x
BloFin ENS-USDT	+0.0054%	8h	6.7850	+0.156%	$310K	$73K	20x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.8052	+0.454%	$3.1M	$414K	5x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.7780	+0.053%	$1.8M	$139K	50x	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.7520	−0.331%	$24K	$608K	50x	as long as short