Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.012%

Price spread now: KuCoin against ApeX Omni−0.045%67s7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$138as 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−$1511.510% of the position

Long on ApeX Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.131%+$13 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now −0.045%, 7d avg −0.006%

Together, before fees+0.163%+$16 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: KuCoin is 0.039% cheaper against ApeX Omni than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.006%. The two prices were read 67 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	6.6110	0.0100	pay 0.0013% / 1h	44m 17s	$24K	$603K	50x
Short	KuCoin ENSUSDTM	6.6080	0.0100	get 0.0100% / 8h	2h 44m	$1.7M	$122K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.045%Rate

Funding earned: $0
Price spread: −0.045% → −0.006%: −$3.93
Slippage, 4 orders: −$129.04
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$154.97
Costs to cover: 1.510%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 3 min ago; KuCoin: live order book, 7 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	5.30 bp	13.1 bp −$13	96.7 bp −$967	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	7.54 bp	64.3 bp −$64	612.0 bp −$6,120	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	−0.1030%	1h	6.5985	−0.190%	$90K	$381K	20x	as long as short
Gate ENS_USDT	+0.0036%	8h	6.5990	−0.182%	$459K	$566K	75x	as long as short
OKX ENS-USDT-SWAP	+0.0059%	8h	6.6010	−0.151%	$2.3M	$3.4M	20x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6127	+0.026%	$9K	$105K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6067	−0.066%	$5.1M	$13.5M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6030	−0.121%	$5.3M	$3.4M	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6080	−0.045%	$6.1M	$864K	75x	as long as short
KuCoin ENSUSDTMshort	+0.0100%	8h	6.6080	−0.045%	$1.7M	$122K	50x
Bitget ENSUSDT	+0.0100%	8h	6.6000	−0.166%	$2.9M	$1.2M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.6020	−0.136%	—	$7.7M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ENS	+0.0100%	8h	6.5938	−0.259%	$106K	$9K	—	as long as short
ApeX Omni ENSUSDTlong	+0.0100%	1h	6.6110	long leg	$24K	$603K	50x
Extended ENS-USD	+0.0104%	1h	6.6049	−0.092%	$3K	$259K	10x	as long as short
BloFin ENS-USDT	+0.0125%	8h	6.5970	−0.212%	$294K	$78K	20x	as long as short
Hyperliquid ENS	+0.0299%	1h	6.6156	+0.070%	$3.0M	$294K	5x	as long as short