Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1122%/8h= +122.8% APRpaid last 24h +0.287%

Price spread now: Binance against Kraken Futures+0.047%7-day average −0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$248as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$840.843% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−1.637%−$164 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now +0.047%, 7d avg −0.044%

Together, before fees−1.644%−$164 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$34 a day on $10k at the current rate, and Binance is 0.090% dearer against Kraken Futures than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.044%. Mind the row above: over the last 7 days funding on this pair cost −1.637%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ENSUSD	6.6539	−0.1022	get 0.0128% / 1h	1m 10s	$91K	$373K	20x
Short	Binance ENSUSDT	6.6570	0.0100	get 0.0100% / 8h	2h 01m	$5.1M	$13.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now +0.047%Rate

Funding earned: $235.52
Price spread: +0.047% → −0.044%: $9.02
Slippage, 4 orders: −$64.25
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $160.29
Costs to cover: 0.843%
Break-even: 2.2 days

Slippage from Kraken Futures: live order book, 47 min ago; Binance: live order book, 9 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 Kraken Futures live order book, 47 min ago	14.38 bp	24.6 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.75 bp	14.4 bp −$14	34.5 bp −$345	223.4 bp −$22.3K	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_ENSUSDlong	−0.1022%	1h	6.6539	long leg	$91K	$373K	20x
OKX ENS-USDT-SWAP	+0.0082%	8h	6.6520	−0.029%	$2.3M	$3.4M	20x	as long as short
Gate ENS_USDT	+0.0099%	8h	6.6580	+0.062%	$462K	$572K	75x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.6676	+0.206%	$3.0M	$295K	5x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6552	+0.019%	$9K	$105K	10x	as long as short
Binance ENSUSDTshort	+0.0100%	8h	6.6570	+0.047%	$5.1M	$13.6M	75x
Bybit ENSUSDT	+0.0100%	8h	6.6500	−0.059%	$5.4M	$3.4M	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6570	+0.047%	$6.2M	$871K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.6610	+0.107%	$1.8M	$119K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.6600	+0.092%	$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	6.6550	+0.016%	—	$7.5M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.6628	+0.134%	$107K	$9K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.6780	+0.362%	$24K	$604K	50x	as long as short
BloFin ENS-USDT	+0.0102%	8h	6.6520	−0.029%	$292K	$80K	20x	as long as short
Extended ENS-USD	+0.0104%	1h	6.6541	+0.003%	$3K	$258K	10x	as long as short