Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1495%/8h= −163.7% APRpaid last 24h −0.214%

Price spread now: Kraken Futures against Binance+0.175%7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs+$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$950.948% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.782%+$178 on $10k

Price spread, last 3 days (all we have)−0.178%−$18 · spread now +0.175%, 7d avg +0.059%

Together, before fees+1.604%+$160 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.116% dearer against Binance than usual: you sell high and buy low (spread +0.175% now, against its 7-day average of +0.059%): +$12 on $10k if it goes back. Holding the pair costs −$45 a day in funding at the current rate, which eats that in about 6 hours. Mind the row above: over the last 7 days funding on this pair paid +1.782%, 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	Binance ENSUSDT	6.7314	0.0100	pay 0.0100% / 8h	7h 04m	$5.4M	$13.5M	75x
Short	Kraken Futures PF_ENSUSD	6.7432	−0.1395	pay 0.0174% / 1h	4m 00s	$91K	$440K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now +0.175%Rate

Funding earned: −$313.88
Price spread: +0.175% → +0.059%: $11.65
Slippage, 4 orders: −$74.77
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$397
Costs to cover: 0.948%
Break-even: never at this rate

Slippage from Binance: live order book, 6 min ago; Kraken Futures: live order book, 4 min ago.

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 Binance live order book, 6 min ago	0.74 bp	12.9 bp −$13	40.3 bp −$403	660.6 bp −$66.1K	doesn't fit
Sell Kraken Futures live order book, 4 min ago	23.63 bp	35.3 bp −$35	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	−0.1395%	1h	6.7432	+0.175%	$91K	$440K	20x
Variational Omni ENS	+0.0048%	8h	6.7408	+0.138%	$111K	$5K	—	as long as short
OKX ENS-USDT-SWAP	+0.0050%	8h	6.7300	−0.021%	$2.4M	$3.3M	20x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.7428	+0.169%	$15K	$103K	10x	as long as short
Binance ENSUSDTlong	+0.0100%	8h	6.7314	long leg	$5.4M	$13.5M	75x
Bybit ENSUSDT	+0.0100%	8h	6.7230	−0.125%	$5.4M	$3.7M	75x	as long as short
Gate ENS_USDT	+0.0100%	8h	6.7370	+0.083%	$462K	$576K	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.7390	+0.112%	$5.5M	$864K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.7460	+0.216%	$1.8M	$129K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.7410	+0.142%	$3.0M	$1.3M	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	6.7300	−0.021%	—	$7.8M	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.7960	+0.959%	$25K	$604K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.7392	+0.115%	$4K	$107K	10x	as long as short
BloFin ENS-USDT	+0.0116%	8h	6.7510	+0.291%	$311K	$76K	20x	as long as short
Hyperliquid ENS	+0.0378%	1h	6.7558	+0.362%	$3.1M	$352K	5x	as long as short