Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0022%/8h= −2.4% APRpaid last 24h −0.038%

Price spread now: Variational Omni against ApeX Omni−0.548%73s7-day average −0.131% · you buy dearer than you sell

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

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.024%−$2 on $10k

Price spread, last 4 days (all we have)+0.426%+$43 · spread now −0.548%, 7d avg −0.131%

Together, before fees+0.402%+ Points / potential airdropVariational Omni: Active · farm board+$40 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.416% cheaper against ApeX Omni than usual: you would sell low and buy high (−$42 if the spread goes back to its 7-day average of −0.131%). Swap the legs. The two prices were read 73 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	6.6680	0.0100	pay 0.0013% / 1h	46m 05s	$25K	$603K	50x
Short	Variational Omni ENS	6.6315	0.0078	get 0.0078% / 8h	6h 46m	$106K	$8K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.548%Rate

Funding earned: −$4.55
Price spread: −0.548% → −0.131%: −$41.64
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$56.19
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 22 min ago; Variational Omni: RFQ quote, 23 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 ApeX Omni live order book, 22 min ago	5.90 bp	14.4 bp −$14	102.0 bp −$1,020	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 23 min ago	6.40 bp	doesn't fit	41.9 bp −$419	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	−0.0818%	1h	6.6390	−0.434%	$87K	$447K	20x	as long as short
OKX ENS-USDT-SWAP	+0.0068%	8h	6.6340	−0.510%	$2.3M	$3.5M	20x	as long as short
Variational Omni ENSshort	+0.0078%	8h	6.6315	−0.548%	$106K	$8K	—
BloFin ENS-USDT	+0.0097%	8h	6.6560	−0.180%	$301K	$77K	20x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6439	−0.362%	$11K	$106K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6395	−0.427%	$5.1M	$14.2M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6370	−0.465%	$5.4M	$3.8M	75x	as long as short
Gate ENS_USDT	+0.0100%	8h	6.6370	−0.465%	$458K	$566K	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6400	−0.420%	$5.4M	$775K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.6450	−0.345%	$1.8M	$144K	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	6.6420	−0.390%	$3.0M	$1.3M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.6400	−0.420%	—	$7.8M	—	as long as short
ApeX Omni ENSUSDTlong	+0.0100%	1h	6.6680	long leg	$25K	$603K	50x
Extended ENS-USD	+0.0104%	1h	6.6381	−0.449%	$194	$107K	10x	as long as short
Hyperliquid ENS	+0.0219%	1h	6.6496	−0.276%	$3.0M	$355K	5x	as long as short