Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.1163%/8h= −127.3% APRpaid last 24h −0.292%

Price spread now: Kraken Futures against BloFin−0.128%57s7-day average +0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs+$76as 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−$860.858% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.620%+$162 on $10k

Price spread, last 4 days (all we have)+0.167%+$17 · spread now −0.128%, 7d avg +0.042%

Together, before fees+1.787%+$179 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$35 a day on $10k at the current rate, and Kraken Futures is 0.170% cheaper against BloFin than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of +0.042%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.620%, so the current rate has only just turned against you. The two prices were read 57 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	BloFin ENS-USDT	6.5370	0.0122	pay 0.0122% / 8h	2h 26m	$291K	$78K	20x
Short	Kraken Futures PF_ENSUSD	6.5286	−0.1041	pay 0.0130% / 1h	26m 00s	$89K	$379K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now −0.128%Rate

Funding earned: −$244.17
Price spread: −0.128% → +0.042%: −$17.01
Slippage, 4 orders: −$63.8
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$346.97
Costs to cover: 0.858%
Break-even: never at this rate

Slippage from BloFin: live order book, 46 min ago; Kraken Futures: live order book, 22 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 BloFin live order book, 46 min ago	6.74 bp	13.9 bp −$14	22.0 bp −$220	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 22 min ago	14.38 bp	32.2 bp −$32	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	−0.1041%	1h	6.5286	−0.128%	$89K	$379K	20x
Gate ENS_USDT	+0.0038%	8h	6.5390	+0.031%	$454K	$572K	75x	as long as short
OKX ENS-USDT-SWAP	+0.0057%	8h	6.5310	−0.092%	$2.3M	$3.4M	20x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.5407	+0.057%	$9K	$105K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.5407	+0.057%	$5.0M	$13.6M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.5330	−0.061%	$5.3M	$3.4M	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.5370	0.000%	$6.1M	$869K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.5390	+0.031%	$1.7M	$119K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.5350	−0.031%	$2.8M	$1.2M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.5390	+0.031%	—	$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	6.5309	−0.093%	$104K	$9K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.5600	+0.352%	$24K	$606K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.5363	−0.011%	$3K	$254K	10x	as long as short
BloFin ENS-USDTlong	+0.0122%	8h	6.5370	long leg	$291K	$78K	20x
Hyperliquid ENS	+0.0179%	1h	6.5475	+0.161%	$3.0M	$295K	5x	as long as short