Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0955%/8h= −104.6% APRpaid last 24h −0.270%

Price spread now: Kraken Futures against MEXC−0.068%7-day average +0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs+$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$780.780% of the position

Long on MEXC Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.693%+$169 on $10k

Price spread, last 4 days (all we have)−0.240%−$24 · spread now −0.068%, 7d avg +0.050%

Together, before fees+1.453%+$145 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$29 a day on $10k at the current rate, and Kraken Futures is 0.119% cheaper against MEXC than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.050%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.693%, 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	MEXC ENS_USDT	6.6280	0.0100	pay 0.0100% / 8h	4h 36m	$5.4M	$680K	75x
Short	Kraken Futures PF_ENSUSD	6.6235	−0.0855	pay 0.0107% / 1h	36m 05s	$89K	$408K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$200.62
Price spread: −0.068% → +0.050%: −$11.9
Slippage, 4 orders: −$64
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$290.51
Costs to cover: 0.780%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Kraken Futures: live order book, 22 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	6.7 bp −$7	17.1 bp −$171	57.0 bp −$5,695	102.5 bp −$51.2K
Sell Kraken Futures live order book, 22 min ago	16.59 bp	33.3 bp −$33	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_ENSUSDshort	−0.0855%	1h	6.6235	−0.068%	$89K	$408K	20x
Gate ENS_USDT	−0.0011%	8h	6.6390	+0.166%	$453K	$563K	75x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6419	+0.210%	$9K	$105K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6230	−0.075%	$5.1M	$13.4M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6150	−0.196%	$5.3M	$3.6M	75x	as long as short
OKX ENS-USDT-SWAP	+0.0100%	8h	6.6180	−0.151%	$2.3M	$3.3M	20x	as long as short
MEXC ENS_USDTlong	+0.0100%	8h	6.6280	long leg	$5.4M	$680K	75x
KuCoin ENSUSDTM	+0.0100%	8h	6.6440	+0.241%	$1.8M	$133K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.6190	−0.136%	$2.9M	$1.2M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.6330	+0.075%	—	$7.8M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ENS	+0.0100%	8h	6.6178	−0.153%	$106K	$8K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.6460	+0.272%	$25K	$598K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.6280	0.000%	$1K	$118K	10x	as long as short
BloFin ENS-USDT	+0.0129%	8h	6.6480	+0.302%	$300K	$73K	20x	as long as short
Hyperliquid ENS	+0.0207%	1h	6.6388	+0.163%	$3.0M	$297K	5x	as long as short