Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.024%

Price spread now: Bybit against BingX0.000%7-day average −0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$710.711% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$2 on $10k

Price spread, last 7 days−0.027%−$3 · spread now 0.000%, 7d avg −0.040%

Together, before fees−0.052%−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.040% dearer against BingX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ENS-USDT	6.6210	0.0100	pay 0.0100% / 8h	1h 33m	—	$7.5M	—
Short	Bybit ENSUSDT	6.6210	0.0100	get 0.0100% / 8h	1h 33m	$5.4M	$3.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BingX. 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 BingXbpFee BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.040%: $4.04
Slippage, 4 orders: −$50.12
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$67.07
Costs to cover: 0.711%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; Bybit: 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 BingX live order book, 9 min ago	3.77 bp	19.2 bp −$19	36.8 bp −$368	275.7 bp −$27.6K	484.3 bp −$242.1K
Sell Bybit live order book, 4 min ago	3.02 bp	15.5 bp −$16	43.3 bp −$433	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	−0.1067%	1h	6.6138	−0.108%	$90K	$371K	20x	as long as short
ApeX Omni ENSUSDT	−0.0718%	1h	6.6450	+0.362%	$24K	$605K	50x	as long as short
OKX ENS-USDT-SWAP	−0.0008%	8h	6.6240	+0.045%	$2.3M	$3.4M	20x	as long as short
Gate ENS_USDT	+0.0038%	8h	6.6230	+0.030%	$461K	$573K	75x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.6331	+0.183%	$3.0M	$294K	5x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6249	+0.059%	$9K	$105K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6270	+0.091%	$5.1M	$13.6M	75x	as long as short
Bybit ENSUSDTshort	+0.0100%	8h	6.6210	0.000%	$5.4M	$3.4M	75x
MEXC ENS_USDT	+0.0100%	8h	6.6220	+0.015%	$6.5M	$967K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.6270	+0.091%	$1.7M	$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	6.6240	+0.045%	$2.9M	$1.2M	75x	as long as short
BingX ENS-USDTlong	+0.0100%	8h	6.6210	long leg	—	$7.5M	—
Variational Omni ENS	+0.0100%	8h	6.6213	+0.005%	$106K	$9K	—	as long as short
Extended ENS-USD	+0.0104%	1h	6.6253	+0.065%	$570	$260K	10x	as long as short
BloFin ENS-USDT	+0.0128%	8h	6.6210	0.000%	$294K	$80K	20x	as long as short