Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.020%

Price spread now: OKX against Extended+0.011%7-day average −0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$760.763% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.034%+$3 · spread now +0.011%, 7d avg −0.018%

Together, before fees+0.032%+ Points / potential airdropExtended: Active · farm board+$3 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: OKX is 0.029% dearer against Extended than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ENS-USD	6.6902	0.0104	pay 0.0013% / 1h	46m 24s	$2K	$124K	10x
Short	OKX ENS-USDT-SWAP	6.6910	0.0100	get 0.0100% / 8h	3h 46m	$2.3M	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Extended. 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 ExtendedbpFee OKXbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$0.84
Price spread: +0.011% → −0.018%: $2.93
Slippage, 4 orders: −$61.34
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$74.25
Costs to cover: 0.763%
Break-even: never at this rate

Slippage from Extended: live order book, 4 min ago; OKX: live order book, 1 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 Extended live order book, 4 min ago	2.54 bp	18.9 bp −$19	172.5 bp −$1,725	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	2.24 bp	19.4 bp −$19	90.2 bp −$902	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	−0.0672%	1h	6.6769	−0.199%	$90K	$406K	20x	as long as short
BloFin ENS-USDT	+0.0074%	8h	6.6910	+0.011%	$297K	$74K	20x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.7035	+0.198%	$3.0M	$294K	5x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6887	−0.022%	$9K	$105K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6940	+0.056%	$5.2M	$13.5M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6850	−0.078%	$5.4M	$3.7M	75x	as long as short
OKX ENS-USDT-SWAPshort	+0.0100%	8h	6.6910	+0.011%	$2.3M	$3.3M	20x
Gate ENS_USDT	+0.0100%	8h	6.6850	−0.078%	$457K	$560K	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6920	+0.026%	$5.9M	$753K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.6950	+0.071%	$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	6.6960	+0.086%	$2.9M	$1.2M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.6910	+0.011%	—	$7.8M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.7088	+0.278%	$107K	$9K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.6970	+0.101%	$25K	$599K	50x	as long as short
Extended ENS-USDlong	+0.0104%	1h	6.6902	long leg	$2K	$124K	10x