Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.2131%/8h= −233.4% APRpaid last 24h −0.131%

Price spread now: Kraken Futures against Variational Omni−0.505%7-day average +0.138% · you buy dearer than you sell

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

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+1.629%+$163 on $10k

Price spread, last 3 days (all we have)+0.530%+$53 · spread now −0.505%, 7d avg +0.138%

Together, before fees+2.159%+ Points / potential airdropVariational Omni: Active · farm board+$216 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$64 a day on $10k at the current rate, and Kraken Futures is 0.644% cheaper against Variational Omni than usual: you would sell low and buy high (−$64 if the spread goes back to its 7-day average of +0.138%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +1.629%, 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	Variational Omni ENS	6.7907	−0.0120	get 0.0120% / 8h	1h 37m	$111K	$5K	—
Short	Kraken Futures PF_ENSUSD	6.7564	−0.2251	pay 0.0281% / 1h	37m 11s	$91K	$435K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.505%Rate

Funding earned: −$447.54
Price spread: −0.505% → +0.138%: −$64.36
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$521.9
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 47 min ago; Kraken Futures: live order book, 46 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, 47 min ago	6.39 bp	doesn't fit	59.8 bp −$598	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 46 min ago	19.86 bp	34.4 bp −$34	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	−0.2251%	1h	6.7564	−0.505%	$91K	$435K	20x
Gate ENS_USDT	−0.0215%	8h	6.7760	−0.217%	$460K	$565K	75x	as long as short
Variational Omni ENSlong	−0.0120%	8h	6.7907	long leg	$111K	$5K	—
Bybit ENSUSDT	−0.0075%	8h	6.7600	−0.452%	$5.4M	$3.8M	75x	as long as short
Bitget ENSUSDT	−0.0073%	8h	6.7630	−0.408%	$2.9M	$1.3M	75x	as long as short
OKX ENS-USDT-SWAP	−0.0063%	8h	6.7580	−0.482%	$2.4M	$3.4M	20x	as long as short
Aster ENSUSDT	−0.0001%	8h	6.7674	−0.343%	$8K	$89K	10x	as long as short
BloFin ENS-USDT	+0.0037%	8h	6.7680	−0.335%	$308K	$73K	20x	as long as short
Extended ENS-USD	+0.0064%	1h	6.7647	−0.382%	$1K	$181K	10x	as long as short
BingX ENS-USDT	+0.0066%	8h	6.7730	−0.261%	—	$3.7M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENSUSDT	+0.0066%	8h	6.7670	−0.349%	$5.3M	$13.6M	75x	as long as short
MEXC ENS_USDT	+0.0067%	8h	6.7650	−0.379%	$5.5M	$834K	75x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.7780	−0.187%	$3.1M	$410K	5x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.7760	−0.217%	$1.8M	$138K	50x	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.7850	−0.084%	$24K	$607K	50x	as long as short