Funding arb · Price arb /

ENSO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Bitget+0.069%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$940.940% of the position

Long on Bitget Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.042%−$4 · spread now +0.069%, 7d avg +0.003%

Together, before fees−0.042%−$4 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: MEXC is 0.067% dearer against Bitget than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ENSOUSDT	1.0092	0.0100	pay 0.0050% / 4h	2h 06m	$842K	$789K	25x
Short	MEXC ENSO_USDT	1.0099	0.0100	get 0.0050% / 4h	2h 06m	$665K	$199K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bitget. 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 BitgetbpFee MEXCbpOrdersPrice spread, now +0.069%Rate

Funding earned: $0
Price spread: +0.069% → +0.003%: $6.69
Slippage, 4 orders: −$77.97
Fee Bitget: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$87.28
Costs to cover: 0.940%
Break-even: never at this rate

Slippage from Bitget: live order book, 14 min ago; MEXC: live order book, 54 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 Bitget live order book, 14 min ago	9.88 bp	38.0 bp −$38	176.3 bp −$1,763	doesn't fit	doesn't fit
Sell MEXC live order book, 54 min ago	2.98 bp	15.6 bp −$16	53.5 bp −$535	200.3 bp −$20.0K	doesn't fit

ENSO on 10 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
OKX ENSO-USDT-SWAP	+0.0049%	4h	1.0083	−0.089%	$984K	$2.4M	50x	as long as short
Aster ENSOUSDT	+0.0100%	4h	1.0103	+0.110%	$64K	$4K	5x	as long as short
Binance ENSOUSDT	+0.0100%	4h	1.0098	+0.059%	$5.6M	$7.1M	50x	as long as short
Bybit ENSOUSDT	+0.0100%	4h	1.0099	+0.069%	$1.8M	$1.4M	25x	as long as short
Gate ENSO_USDT	+0.0100%	4h	1.0095	+0.030%	$317K	$103K	25x	as long as short
MEXC ENSO_USDTshort	+0.0100%	4h	1.0099	+0.069%	$665K	$199K	20x
KuCoin ENSOUSDTM	+0.0100%	4h	1.0095	+0.030%	$941K	$63K	30x	as long as short
Bitget ENSOUSDTlong	+0.0100%	4h	1.0092	long leg	$842K	$789K	25x
BingX ENSO-USDT	+0.0100%	4h	1.0090	−0.020%	—	$6.6M	—	as long as short
Variational Omni ENSO	+0.0100%	4h	1.0122	+0.300%	$29K	$31K	—	as long as short