Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.018%

Price spread now: ApeX Omni against Gate+0.270%81s7-day average +0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs−$91as 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−$840.841% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$6 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now +0.270%, 7d avg +0.100%

Together, before fees−0.094%−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and ApeX Omni is 0.171% dearer against Gate than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.100%. Mind the row above: over the last 7 days funding on this pair cost −0.065%, so the current rate has only just turned in your favour. The two prices were read 81 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	Gate ENS_USDT	6.6580	0.0080	pay 0.0080% / 8h	5h 06m	$453K	$564K	75x
Short	ApeX Omni ENSUSDT	6.6760	0.0100	get 0.0013% / 1h	6m 07s	$25K	$598K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now +0.270%Rate

Funding earned: $4.2
Price spread: +0.270% → +0.100%: $17.07
Slippage, 4 orders: −$59.09
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$62.83
Costs to cover: 0.841%
Break-even: 111.7 days

Slippage from Gate: live order book, 55 min ago; ApeX Omni: live order book, 57 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 Gate live order book, 55 min ago	8.22 bp	27.0 bp −$27	135.2 bp −$1,352	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 57 min ago	7.46 bp	15.1 bp −$15	90.7 bp −$907	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	−0.0939%	1h	6.6382	−0.298%	$89K	$416K	20x	as long as short
Gate ENS_USDTlong	+0.0080%	8h	6.6580	long leg	$453K	$564K	75x
OKX ENS-USDT-SWAP	+0.0095%	8h	6.6400	−0.270%	$2.3M	$3.3M	20x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.6577	−0.005%	$3.0M	$301K	5x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6542	−0.057%	$10K	$103K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6451	−0.194%	$5.2M	$13.4M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6370	−0.315%	$5.3M	$3.6M	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6490	−0.135%	$5.4M	$732K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.6570	−0.015%	$1.8M	$133K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.6530	−0.075%	$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	6.6500	−0.120%	—	$7.8M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.6357	−0.335%	$106K	$8K	—	as long as short
ApeX Omni ENSUSDTshort	+0.0100%	1h	6.6760	+0.270%	$25K	$598K	50x
Extended ENS-USD	+0.0104%	1h	6.6453	−0.191%	$4K	$116K	10x	as long as short
BloFin ENS-USDT	+0.0117%	8h	6.6600	+0.030%	$301K	$73K	20x	as long as short