Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0157%/8h= +17.2% APRpaid last 24h −0.003%

Price spread now: ApeX Omni against OKX+0.559%50s7-day average +0.102% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$660.663% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.083%−$8 on $10k

Price spread, last 3 days (all we have)−0.543%−$54 · spread now +0.559%, 7d avg +0.102%

Together, before fees−0.626%−$63 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and ApeX Omni is 0.458% dearer against OKX than usual: you sell high and buy low: +$46 more if the spread goes back to its 7-day average of +0.102%. Mind the row above: over the last 7 days funding on this pair cost −0.083%, so the current rate has only just turned in your favour. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ENS-USDT-SWAP	6.7930	−0.0057	get 0.0057% / 8h	40m 43s	$2.4M	$3.5M	20x
Short	ApeX Omni ENSUSDT	6.8310	0.0100	get 0.0013% / 1h	40m 43s	$24K	$609K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now +0.559%Rate

Funding earned: $33.03
Price spread: +0.559% → +0.102%: $45.78
Slippage, 4 orders: −$46.35
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $12.46
Costs to cover: 0.663%
Break-even: 4.4 days

Slippage from OKX: live order book, 2 min ago; ApeX Omni: live order book, 37 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 OKX live order book, 2 min ago	1.47 bp	17.8 bp −$18	75.7 bp −$757	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 37 min ago	5.17 bp	13.9 bp −$14	98.8 bp −$988	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	−0.1932%	1h	6.7951	+0.031%	$94K	$446K	20x	as long as short
Gate ENS_USDT	−0.0186%	8h	6.8090	+0.236%	$452K	$576K	75x	as long as short
Variational Omni ENS	−0.0081%	8h	6.8166	+0.348%	$112K	$5K	—	as long as short
OKX ENS-USDT-SWAPlong	−0.0057%	8h	6.7930	long leg	$2.4M	$3.5M	20x
Bitget ENSUSDT	−0.0033%	8h	6.7920	−0.015%	$2.9M	$1.3M	75x	as long as short
Bybit ENSUSDT	−0.0012%	8h	6.7900	−0.044%	$5.5M	$3.8M	75x	as long as short
Aster ENSUSDT	+0.0059%	8h	6.8104	+0.257%	$10K	$97K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.8034	+0.153%	$5.6M	$13.8M	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.8000	+0.103%	$5.6M	$855K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.8050	+0.177%	$1.8M	$137K	50x	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	6.8020	+0.132%	—	$3.6M	—	as long as short
ApeX Omni ENSUSDTshort	+0.0100%	1h	6.8310	+0.559%	$24K	$609K	50x
Extended ENS-USD	+0.0104%	1h	6.8021	+0.135%	$1K	$181K	10x	as long as short
BloFin ENS-USDT	+0.0115%	8h	6.8070	+0.206%	$320K	$75K	20x	as long as short
Hyperliquid ENS	+0.0239%	1h	6.8183	+0.372%	$3.1M	$410K	5x	as long as short