Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.1044%/8h= −114.4% APRpaid last 24h −0.307%

Price spread now: Kraken Futures against Variational Omni−0.215%7-day average +0.125% · you buy dearer than you sell

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

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+1.474%+$147 on $10k

Price spread, last 4 days (all we have)−0.190%−$19 · spread now −0.215%, 7d avg +0.125%

Together, before fees+1.284%+ Points / potential airdropVariational Omni: Active · farm board+$128 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$31 a day on $10k at the current rate, and Kraken Futures is 0.341% cheaper against Variational Omni than usual: you would sell low and buy high (−$34 if the spread goes back to its 7-day average of +0.125%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +1.474%, 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	Variational Omni ENS	6.6334	0.0100	pay 0.0100% / 8h	7h 42m	$108K	$17K	—
Short	Kraken Futures PF_ENSUSD	6.6191	−0.0944	pay 0.0118% / 1h	42m 33s	$90K	$342K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Kraken FuturesbpOrdersPrice spread, now −0.215%Rate

Funding earned: −$219.33
Price spread: −0.215% → +0.125%: −$34.08
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$263.41
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 56 min ago; Kraken Futures: live order book, 55 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, 56 min ago	6.47 bp	doesn't fit	43.2 bp −$432	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 55 min ago	21.12 bp	37.4 bp −$37	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	−0.0944%	1h	6.6191	−0.215%	$90K	$342K	20x
OKX ENS-USDT-SWAP	+0.0004%	8h	6.6190	−0.217%	$2.3M	$3.3M	20x	as long as short
BloFin ENS-USDT	+0.0095%	8h	6.6260	−0.112%	$292K	$76K	20x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6331	−0.005%	$7K	$102K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6250	−0.127%	$5.1M	$13.3M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6220	−0.172%	$5.4M	$3.2M	75x	as long as short
Gate ENS_USDT	+0.0100%	8h	6.6350	+0.024%	$462K	$551K	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6260	−0.112%	$6.9M	$1.0M	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.6350	+0.024%	$1.8M	$119K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.6330	−0.006%	$2.9M	$1.2M	75x	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	6.6260	−0.112%	—	$7.5M	—	as long as short
Variational Omni ENSlong	+0.0100%	8h	6.6334	long leg	$108K	$17K	—
ApeX Omni ENSUSDT	+0.0100%	1h	6.6340	+0.009%	$24K	$607K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.6232	−0.153%	$3K	$252K	10x	as long as short
Hyperliquid ENS	+0.0112%	1h	6.6343	+0.013%	$3.0M	$292K	5x	as long as short