Funding arb · Price arb /

ENS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0226%/8hnext payment +$2.26 per $10,000 · paid last 24h +0.036%

Price spread now: BingX against Variational Omni+0.409%7-day average +0.027% · you sell dearer than you buy

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

Long on Variational Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.050%+$5 on $10k

Price spread, last 3 days (all we have)−0.799%−$80 · spread now +0.409%, 7d avg +0.027%

Together, before fees−0.749%+ Points / potential airdropVariational Omni: Active · farm board−$75 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BingX is 0.382% dearer against Variational Omni than usual: you sell high and buy low: +$38 more if the spread goes back to its 7-day average of +0.027%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.050% in total (about 5.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.26 per $10,000. 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	6.7285	−0.0139	get 0.0139% / 8h	4h 07m	$111K	$6K	—
Short	BingX ENS-USDT	6.7560	0.0087	get 0.0087% / 8h	4h 07m	—	$3.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.409%Rate

Funding earned: $47.51
Price spread: +0.409% → +0.027%: $38.22
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: $75.73
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 26 min ago; BingX: live order book, 2 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, 26 min ago	4.94 bp	doesn't fit	37.1 bp −$371	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	2.97 bp	13.5 bp −$13	42.5 bp −$425	181.1 bp −$18.1K	451.7 bp −$225.9K

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	−0.2174%	1h	6.7452	+0.249%	$95K	$438K	20x	as long as short
Gate ENS_USDT	−0.0178%	8h	6.7480	+0.290%	$455K	$580K	75x	as long as short
Variational Omni ENSlong	−0.0139%	8h	6.7285	long leg	$111K	$6K	—
Bybit ENSUSDT	−0.0095%	8h	6.7490	+0.305%	$5.4M	$3.9M	75x	as long as short
OKX ENS-USDT-SWAP	−0.0046%	8h	6.7490	+0.305%	$2.4M	$3.5M	20x	as long as short
Aster ENSUSDT	−0.0001%	8h	6.7577	+0.434%	$8K	$86K	10x	as long as short
MEXC ENS_USDT	+0.0058%	8h	6.7550	+0.394%	$5.5M	$807K	75x	as long as short
Binance ENSUSDT	+0.0062%	8h	6.7556	+0.403%	$5.4M	$13.8M	75x	as long as short
Extended ENS-USD	+0.0064%	1h	6.7561	+0.410%	$1K	$181K	10x	as long as short
BloFin ENS-USDT	+0.0085%	8h	6.7490	+0.305%	$320K	$72K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ENS-USDTshort	+0.0087%	8h	6.7560	+0.409%	—	$3.9M	—
Bitget ENSUSDT	+0.0090%	8h	6.7500	+0.320%	$2.9M	$1.4M	75x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.7692	+0.605%	$3.1M	$418K	5x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.7550	+0.394%	$1.8M	$142K	50x	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.7510	+0.335%	$24K	$615K	50x	as long as short