Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0016%/8h= −1.7% APRpaid last 24h −0.012%

Price spread now: OKX against ApeX Omni−0.329%100s7-day average −0.100% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as 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−$600.600% of the position

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 4 days (all we have)+0.313%+$31 · spread now −0.329%, 7d avg −0.100%

Together, before fees+0.389%+$39 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and OKX is 0.229% cheaper against ApeX Omni than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of −0.100%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.076%, so the current rate has only just turned against you. The two prices were read 100 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	ApeX Omni ENSUSDT	6.6780	0.0100	pay 0.0013% / 1h	1m 53s	$24K	$604K	50x
Short	OKX ENS-USDT-SWAP	6.6560	0.0084	get 0.0084% / 8h	2h 01m	$2.3M	$3.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against ApeX 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 ApeX OmnibpFee OKXbpOrdersPrice spread, now −0.329%Rate

Funding earned: −$3.31
Price spread: −0.329% → −0.100%: −$22.94
Slippage, 4 orders: −$39.96
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$86.21
Costs to cover: 0.600%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 46 min ago; OKX: live order book, just now.

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 ApeX Omni live order book, 46 min ago	5.30 bp	13.1 bp −$13	96.7 bp −$967	doesn't fit	doesn't fit
Sell OKX live order book, just now	3.01 bp	15.8 bp −$16	84.3 bp −$843	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	−0.1021%	1h	6.6561	−0.328%	$91K	$373K	20x	as long as short
BloFin ENS-USDT	+0.0080%	8h	6.6620	−0.240%	$292K	$80K	20x	as long as short
OKX ENS-USDT-SWAPshort	+0.0084%	8h	6.6560	−0.329%	$2.3M	$3.4M	20x
Gate ENS_USDT	+0.0096%	8h	6.6590	−0.285%	$462K	$572K	75x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.6717	−0.094%	$3.0M	$295K	5x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6567	−0.319%	$9K	$105K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6597	−0.273%	$5.1M	$13.6M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6540	−0.359%	$5.4M	$3.4M	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6600	−0.270%	$6.2M	$871K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.6620	−0.240%	$1.8M	$119K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ENSUSDT	+0.0100%	8h	6.6600	−0.270%	$2.9M	$1.2M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.6580	−0.299%	—	$7.5M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.6628	−0.227%	$107K	$9K	—	as long as short
ApeX Omni ENSUSDTlong	+0.0100%	1h	6.6780	long leg	$24K	$604K	50x
Extended ENS-USD	+0.0104%	1h	6.6591	−0.282%	$3K	$258K	10x	as long as short