Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.009%

Price spread now: Hyperliquid against KuCoin+0.020%7-day average +0.133% · you sell dearer than you buy

Net, funding: paid 7d − costs−$199as in the Funding arb table

Net, price: spread back to 7d avg − costs−$212as in the Price arb table

costs, in and out, $10k−$2012.010% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 7 days+0.225%+$23 · spread now +0.020%, 7d avg +0.133%

Together, before fees+0.245%+ Points / potential airdropHyperliquid: Season 2 · farm board+$25 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: Hyperliquid is 0.113% cheaper against KuCoin than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.133%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENSUSDTM	6.5890	0.0100	pay 0.0100% / 8h	7h 26m	$1.7M	$119K	50x
Short	Hyperliquid ENS	6.5903	0.0100	get 0.0013% / 1h	26m 30s	$3.0M	$292K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. 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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now +0.020%Rate

Funding earned: $0
Price spread: +0.020% → +0.133%: −$11.33
Slippage, 4 orders: −$179.95
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$212.28
Costs to cover: 2.010%
Break-even: never at this rate

Slippage from KuCoin: live order book, 10 min ago; Hyperliquid: live order book, 5 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 KuCoin live order book, 10 min ago	9.82 bp	47.3 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	3.27 bp	15.1 bp −$15	doesn't fit	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	−0.0951%	1h	6.5740	−0.228%	$89K	$341K	20x	as long as short
Gate ENS_USDT	−0.0376%	8h	6.5760	−0.197%	$458K	$551K	75x	as long as short
OKX ENS-USDT-SWAP	−0.0013%	8h	6.5760	−0.197%	$2.3M	$3.2M	20x	as long as short
Hyperliquid ENSshort	+0.0100%	1h	6.5903	+0.020%	$3.0M	$292K	5x
Aster ENSUSDT	+0.0100%	8h	6.5844	−0.070%	$7K	$102K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.5842	−0.072%	$5.1M	$13.2M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.5790	−0.152%	$5.3M	$3.2M	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.5840	−0.076%	$6.8M	$1.0M	75x	as long as short
KuCoin ENSUSDTMlong	+0.0100%	8h	6.5890	long leg	$1.7M	$119K	50x
Bitget ENSUSDT	+0.0100%	8h	6.5830	−0.091%	$2.9M	$1.1M	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	6.5810	−0.121%	—	$11.1M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.5754	−0.206%	$107K	$17K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.5820	−0.106%	$24K	$607K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.5831	−0.090%	$3K	$252K	10x	as long as short
BloFin ENS-USDT	+0.0109%	8h	6.5820	−0.106%	$293K	$75K	20x	as long as short