Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.017%

Price spread now: Variational Omni against Bybit+0.296%7-day average +0.004% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.039%−$4 on $10k

Price spread, last 4 days (all we have)−0.174%−$17 · spread now +0.296%, 7d avg +0.004%

Together, before fees−0.213%+ Points / potential airdropVariational Omni: Active · farm board−$21 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: Variational Omni is 0.291% dearer against Bybit than usual: you sell high and buy low, +$29 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENSUSDT	6.6600	0.0100	pay 0.0100% / 8h	6h 55m	$5.4M	$3.1M	75x
Short	Variational Omni ENS	6.6797	0.0100	get 0.0100% / 8h	6h 55m	$109K	$21K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now +0.296%Rate

Funding earned: $0
Price spread: +0.296% → +0.004%: $29.14
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $18.14
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 2 min ago; Variational Omni: RFQ quote, 38 min ago. Net counts fees only.

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 Bybit live order book, 2 min ago	3.74 bp	17.7 bp −$18	47.6 bp −$476	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 38 min ago	6.50 bp	doesn't fit	43.8 bp −$438	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	−0.0949%	1h	6.6801	+0.302%	$95K	$288K	20x	as long as short
OKX ENS-USDT-SWAP	−0.0008%	8h	6.6650	+0.075%	$2.3M	$3.2M	20x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.6821	+0.332%	$3.0M	$246K	5x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6764	+0.246%	$8K	$125K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6660	+0.090%	$5.1M	$12.9M	75x	as long as short
Bybit ENSUSDTlong	+0.0100%	8h	6.6600	long leg	$5.4M	$3.1M	75x
Gate ENS_USDT	+0.0100%	8h	6.6880	+0.420%	$485K	$560K	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6700	+0.150%	$6.9M	$971K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.6850	+0.375%	$1.8M	$117K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.6630	+0.045%	$2.9M	$1.2M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ENS-USDT	+0.0100%	8h	6.6640	+0.060%	—	$11.3M	—	as long as short
Variational Omni ENSshort	+0.0100%	8h	6.6797	+0.296%	$109K	$21K	—
ApeX Omni ENSUSDT	+0.0100%	1h	6.6980	+0.571%	$24K	$606K	50x	as long as short
BloFin ENS-USDT	+0.0103%	8h	6.6860	+0.390%	$293K	$76K	20x	as long as short
Extended ENS-USD	+0.0104%	1h	6.6757	+0.235%	$3K	$255K	10x	as long as short