Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.019%

Price spread now: Hyperliquid against ApeX Omni−0.052%105s7-day average +0.106% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as 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−$860.863% of the position

Long on ApeX Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.149%+$15 on $10k

Price spread, last 4 days (all we have)+0.120%+$12 · spread now −0.052%, 7d avg +0.106%

Together, before fees+0.269%+ Points / potential airdropHyperliquid: Season 2 · farm board+$27 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: Hyperliquid is 0.158% cheaper against ApeX Omni than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.106%. The two prices were read 105 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	6.7120	0.0100	pay 0.0013% / 1h	49m 45s	$25K	$598K	50x
Short	Hyperliquid ENS	6.7085	0.0100	get 0.0013% / 1h	49m 45s	$3.1M	$294K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.052%Rate

Funding earned: $0
Price spread: −0.052% → +0.106%: −$15.8
Slippage, 4 orders: −$67.27
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$102.07
Costs to cover: 0.863%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 3 min ago; Hyperliquid: 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 ApeX Omni live order book, 3 min ago	6.69 bp	14.6 bp −$15	96.9 bp −$969	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 2 min ago	1.26 bp	21.6 bp −$22	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_ENSUSD	−0.0671%	1h	6.6892	−0.340%	$90K	$406K	20x	as long as short
BloFin ENS-USDT	+0.0086%	8h	6.7140	+0.030%	$298K	$74K	20x	as long as short
Gate ENS_USDT	+0.0093%	8h	6.7080	−0.060%	$458K	$560K	75x	as long as short
Hyperliquid ENSshort	+0.0100%	1h	6.7085	−0.052%	$3.1M	$294K	5x
Aster ENSUSDT	+0.0100%	8h	6.7060	−0.090%	$9K	$105K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6900	−0.328%	$5.2M	$13.5M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6990	−0.194%	$5.4M	$3.7M	75x	as long as short
OKX ENS-USDT-SWAP	+0.0100%	8h	6.7000	−0.179%	$2.4M	$3.3M	20x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.7010	−0.164%	$5.9M	$753K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.7110	−0.015%	$1.8M	$133K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ENSUSDT	+0.0100%	8h	6.7080	−0.060%	$2.9M	$1.2M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.7060	−0.089%	—	$7.8M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.7088	−0.047%	$107K	$9K	—	as long as short
ApeX Omni ENSUSDTlong	+0.0100%	1h	6.7120	long leg	$25K	$598K	50x
Extended ENS-USD	+0.0104%	1h	6.6981	−0.208%	$2K	$124K	10x	as long as short