Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.1061%/8h= −116.2% APRpaid last 24h −0.372%

Price spread now: Kraken Futures against KuCoin−0.159%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$223as in the Price arb table

costs, in and out, $10k−$2072.075% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.456%+$146 on $10k

Price spread, last 4 days (all we have)+0.067%+$7 · spread now −0.159%, 7d avg −0.006%

Together, before fees+1.523%+$152 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$32 a day on $10k at the current rate, and Kraken Futures is 0.153% cheaper against KuCoin than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.006%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.456%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENSUSDTM	6.6200	0.0100	pay 0.0100% / 8h	5h 44m	$1.7M	$118K	50x
Short	Kraken Futures PF_ENSUSD	6.6095	−0.0961	pay 0.0120% / 1h	44m 37s	$93K	$260K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.159%Rate

Funding earned: −$222.77
Price spread: −0.159% → −0.006%: −$15.34
Slippage, 4 orders: −$185.45
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$445.57
Costs to cover: 2.075%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Kraken Futures: 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 KuCoin live order book, 4 min ago	4.53 bp	57.4 bp −$57	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	14.38 bp	24.2 bp −$24	doesn't fit	doesn't fit	doesn't fit

ENS on 15 exchanges

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_ENSUSDshort	−0.0961%	1h	6.6095	−0.159%	$93K	$260K	20x
OKX ENS-USDT-SWAP	+0.0001%	8h	6.6140	−0.091%	$2.3M	$3.0M	20x	as long as short
BloFin ENS-USDT	+0.0072%	8h	6.6230	+0.045%	$294K	$75K	20x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.6273	+0.110%	$3.0M	$200K	5x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6200	0.000%	$8K	$123K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6180	−0.030%	$5.1M	$12.1M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6130	−0.106%	$5.3M	$3.1M	75x	as long as short
Gate ENS_USDT	+0.0100%	8h	6.6140	−0.091%	$441K	$587K	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6180	−0.030%	$6.9M	$925K	75x	as long as short
KuCoin ENSUSDTMlong	+0.0100%	8h	6.6200	long leg	$1.7M	$118K	50x

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ENSUSDT	+0.0100%	8h	6.6110	−0.136%	$2.9M	$1.2M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.6160	−0.060%	—	$11.3M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.6148	−0.078%	$108K	$20K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.6230	+0.045%	$24K	$600K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.6156	−0.066%	$4K	$254K	10x	as long as short