Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0184%/8h= +20.2% APRpaid last 24h +0.024%

Price spread now: ApeX Omni against Variational Omni+0.190%7-day average +0.123% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.015%+$2 on $10k

Price spread, last 3 days (all we have)−0.145%−$14 · spread now +0.190%, 7d avg +0.123%

Together, before fees−0.130%+ Points / potential airdropVariational Omni: Active · farm board−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and ApeX Omni is 0.067% dearer against Variational Omni than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.123%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.015% in total (about 1.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ENS	6.7262	−0.0145	get 0.0145% / 8h	1h 58m	$111K	$6K	—
Short	ApeX Omni ENSUSDT	6.7390	0.0039	get 0.0005% / 1h	58m 46s	$24K	$609K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now +0.190%Rate

Funding earned: $38.68
Price spread: +0.190% → +0.123%: $6.72
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $35.4
Costs to cover: 0.100%
Break-even: 0.6 days

Slippage unknown: Variational Omni: RFQ quote, 25 min ago; ApeX Omni: live order book, 24 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 25 min ago	6.39 bp	doesn't fit	59.8 bp −$598	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 24 min ago	6.62 bp	14.8 bp −$15	101.0 bp −$1,010	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	−0.2255%	1h	6.7449	+0.278%	$91K	$436K	20x	as long as short
Gate ENS_USDT	−0.0261%	8h	6.7400	+0.205%	$459K	$562K	75x	as long as short
Variational Omni ENSlong	−0.0145%	8h	6.7262	long leg	$111K	$6K	—
Bybit ENSUSDT	−0.0098%	8h	6.7370	+0.161%	$5.4M	$3.8M	75x	as long as short
OKX ENS-USDT-SWAP	−0.0068%	8h	6.7280	+0.027%	$2.4M	$3.4M	20x	as long as short
Bitget ENSUSDT	−0.0068%	8h	6.7370	+0.161%	$2.9M	$1.3M	75x	as long as short
Aster ENSUSDT	−0.0036%	8h	6.7473	+0.314%	$8K	$89K	10x	as long as short
MEXC ENS_USDT	+0.0036%	8h	6.7490	+0.339%	$5.5M	$830K	75x	as long as short
BingX ENS-USDT	+0.0036%	8h	6.7390	+0.190%	—	$3.7M	—	as long as short
Binance ENSUSDT	+0.0036%	8h	6.7493	+0.343%	$5.3M	$13.8M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni ENSUSDTshort	+0.0039%	1h	6.7390	+0.190%	$24K	$609K	50x
Extended ENS-USD	+0.0040%	1h	6.7463	+0.298%	$1K	$181K	10x	as long as short
BloFin ENS-USDT	+0.0065%	8h	6.7390	+0.190%	$311K	$73K	20x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.7420	+0.235%	$1.8M	$139K	50x	as long as short
Hyperliquid ENS	+0.0365%	1h	6.7593	+0.492%	$3.1M	$414K	5x	as long as short