Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0098%/8h= −10.8% APRpaid last 24h −0.009%

Price spread now: ApeX Omni against MEXC−0.269%7-day average +0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

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

costs, in and out, $10k−$430.434% of the position

Long on MEXC Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.093%−$9 on $10k

Price spread, last 4 days (all we have)+0.330%+$33 · spread now −0.269%, 7d avg +0.048%

Together, before fees+0.237%+$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and ApeX Omni is 0.317% cheaper against MEXC than usual: you would sell low and buy high (−$32 if the spread goes back to its 7-day average of +0.048%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ENS_USDT	6.6830	0.0100	pay 0.0100% / 8h	3h 16m	$5.9M	$807K	75x
Short	ApeX Omni ENSUSDT	6.6650	0.0002	get 0.0000% / 1h	16m 50s	$25K	$600K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against MEXC. 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 MEXCbpFee ApeX OmnibpOrdersPrice spread, now −0.269%Rate

Funding earned: −$20.68
Price spread: −0.269% → +0.048%: −$31.72
Slippage, 4 orders: −$29.39
Fee MEXC: 2 bp × 2 orders: −$4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$95.79
Costs to cover: 0.434%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; ApeX Omni: live order book, 36 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 MEXC live order book, 1 min ago	0.75 bp	7.2 bp −$7	18.3 bp −$183	58.3 bp −$5,831	96.5 bp −$48.2K
Sell ApeX Omni live order book, 36 min ago	6.69 bp	15.3 bp −$15	105.7 bp −$1,057	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	−0.0673%	1h	6.6679	−0.227%	$90K	$389K	20x	as long as short
ApeX Omni ENSUSDTshort	+0.0002%	1h	6.6650	−0.269%	$25K	$600K	50x
Gate ENS_USDT	+0.0079%	8h	6.6860	+0.045%	$458K	$562K	75x	as long as short
OKX ENS-USDT-SWAP	+0.0097%	8h	6.6850	+0.030%	$2.4M	$3.4M	20x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.6791	−0.058%	$3.0M	$292K	5x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6895	+0.097%	$10K	$103K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6880	+0.075%	$5.2M	$13.4M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6850	+0.030%	$5.4M	$3.4M	75x	as long as short
MEXC ENS_USDTlong	+0.0100%	8h	6.6830	long leg	$5.9M	$807K	75x
KuCoin ENSUSDTM	+0.0100%	8h	6.6900	+0.105%	$1.8M	$126K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ENSUSDT	+0.0100%	8h	6.6820	−0.015%	$2.9M	$1.2M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.6900	+0.105%	—	$7.7M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.6438	−0.586%	$106K	$9K	—	as long as short
Extended ENS-USD	+0.0104%	1h	6.6671	−0.238%	$4K	$149K	10x	as long as short
BloFin ENS-USDT	+0.0111%	8h	6.6750	−0.120%	$300K	$79K	20x	as long as short