Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.013%

Price spread now: Bitget against ApeX Omni−0.267%63s7-day average −0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$650.649% of the position

Long on ApeX Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.071%+$7 on $10k

Price spread, last 3 days (all we have)+0.205%+$21 · spread now −0.267%, 7d avg −0.066%

Together, before fees+0.276%+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.201% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.267% now, against its 7-day average of −0.066%). If the spread goes back, that is −$20 on $10k: about 34 days of funding at the current rate (+$1 a day). The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ENSUSDT	6.7530	−0.0050	get 0.0006% / 1h	24m 29s	$24K	$608K	50x
Short	Bitget ENSUSDT	6.7350	−0.0030	pay 0.0030% / 8h	24m 29s	$2.9M	$1.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against ApeX 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 ApeX OmnibpFee BitgetbpOrdersPrice spread, now −0.267%Rate

Funding earned: $4.13
Price spread: −0.267% → −0.066%: −$20.06
Slippage, 4 orders: −$42.88
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$80.81
Costs to cover: 0.649%
Break-even: 143.9 days

Slippage from ApeX Omni: live order book, 53 min ago; Bitget: live order book, 3 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 ApeX Omni live order book, 53 min ago	5.17 bp	15.1 bp −$15	91.9 bp −$919	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	3.71 bp	20.2 bp −$20	44.3 bp −$443	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	−0.1948%	1h	6.7381	−0.220%	$92K	$447K	20x	as long as short
Gate ENS_USDT	−0.0238%	8h	6.7420	−0.163%	$458K	$585K	75x	as long as short
Variational Omni ENS	−0.0085%	8h	6.7417	−0.167%	$111K	$5K	—	as long as short
OKX ENS-USDT-SWAP	−0.0075%	8h	6.7350	−0.267%	$2.4M	$3.4M	20x	as long as short
ApeX Omni ENSUSDTlong	−0.0050%	1h	6.7530	long leg	$24K	$608K	50x
Bitget ENSUSDTshort	−0.0030%	8h	6.7350	−0.267%	$2.9M	$1.3M	75x
Bybit ENSUSDT	−0.0014%	8h	6.7320	−0.311%	$5.4M	$3.8M	75x	as long as short
Aster ENSUSDT	+0.0036%	8h	6.7445	−0.125%	$15K	$102K	10x	as long as short
BloFin ENS-USDT	+0.0081%	8h	6.7420	−0.163%	$316K	$74K	20x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.7413	−0.173%	$5.4M	$14.0M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ENS_USDT	+0.0100%	8h	6.7440	−0.133%	$5.5M	$861K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.7430	−0.148%	$1.8M	$138K	50x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.7410	−0.178%	—	$8.1M	—	as long as short
Extended ENS-USD	+0.0104%	1h	6.7432	−0.146%	$1K	$181K	10x	as long as short
Hyperliquid ENS	+0.0293%	1h	6.7539	+0.013%	$3.1M	$412K	5x	as long as short