Funding arb · Price arb /

ENS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.047%

Price spread now: Variational Omni against Extended+0.148%7-day average −0.048% · you sell dearer than you buy

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

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.069%−$7 on $10k

Price spread, last 4 days (all we have)−0.126%−$13 · spread now +0.148%, 7d avg −0.048%

Together, before fees−0.195%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board−$20 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 0.196% dearer against Extended than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of −0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ENS-USD	6.6490	0.0104	pay 0.0013% / 1h	4m 33s	$572	$257K	10x
Short	Variational Omni ENS	6.6588	0.0100	get 0.0100% / 8h	1h 04m	$108K	$13K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.148%Rate

Funding earned: −$0.84
Price spread: +0.148% → −0.048%: $19.57
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $13.73
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Extended: live order book, 38 min ago; Variational Omni: RFQ quote, 39 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 Extended live order book, 38 min ago	2.03 bp	17.9 bp −$18	177.6 bp −$1,776	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 39 min ago	4.96 bp	doesn't fit	51.6 bp −$516	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	−0.1062%	1h	6.6484	−0.009%	$90K	$364K	20x	as long as short
ApeX Omni ENSUSDT	−0.0258%	1h	6.6580	+0.136%	$24K	$608K	50x	as long as short
OKX ENS-USDT-SWAP	−0.0024%	8h	6.6470	−0.030%	$2.3M	$3.4M	20x	as long as short
BloFin ENS-USDT	+0.0082%	8h	6.6560	+0.105%	$295K	$78K	20x	as long as short
Gate ENS_USDT	+0.0087%	8h	6.6520	+0.045%	$465K	$573K	75x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.6633	+0.215%	$3.0M	$293K	5x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6508	+0.028%	$9K	$105K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6509	+0.029%	$5.1M	$13.5M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6450	−0.060%	$5.4M	$3.3M	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6500	+0.015%	$6.9M	$1.0M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ENSUSDTM	+0.0100%	8h	6.6560	+0.105%	$1.8M	$118K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.6510	+0.030%	$2.9M	$1.2M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.6500	+0.015%	—	$7.5M	—	as long as short
Variational Omni ENSshort	+0.0100%	8h	6.6588	+0.148%	$108K	$13K	—
Extended ENS-USDlong	+0.0104%	1h	6.6490	long leg	$572	$257K	10x