Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.2316%/8h= −253.6% APRpaid last 24h −0.167%

Price spread now: Kraken Futures against BingX+0.024%7-day average +0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs+$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$113as in the Price arb table

costs, in and out, $10k−$1061.056% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.830%+$183 on $10k

Price spread, last 3 days (all we have)−0.031%−$3 · spread now +0.024%, 7d avg +0.100%

Together, before fees+1.799%+$180 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$69 a day on $10k at the current rate, and Kraken Futures is 0.076% cheaper against BingX than usual: you would sell low and buy high (−$8 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 +1.830%, 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	BingX ENS-USDT	6.7870	0.0075	pay 0.0075% / 8h	1h 06m	—	$3.7M	—
Short	Kraken Futures PF_ENSUSD	6.7886	−0.2241	pay 0.0280% / 1h	6m 48s	$94K	$447K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$486.28
Price spread: +0.024% → +0.100%: −$7.64
Slippage, 4 orders: −$85.56
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$599.49
Costs to cover: 1.056%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; Kraken Futures: live order book, 11 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, 8 min ago	5.17 bp	17.9 bp −$18	36.9 bp −$369	243.5 bp −$24.4K	445.5 bp −$222.7K
Sell Kraken Futures live order book, 11 min ago	14.06 bp	38.6 bp −$39	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	−0.2241%	1h	6.7886	+0.024%	$94K	$447K	20x
Gate ENS_USDT	−0.0223%	8h	6.7870	0.000%	$447K	$577K	75x	as long as short
Variational Omni ENS	−0.0114%	8h	6.7926	+0.082%	$112K	$5K	—	as long as short
OKX ENS-USDT-SWAP	−0.0091%	8h	6.7880	+0.015%	$2.4M	$3.4M	20x	as long as short
Bybit ENSUSDT	−0.0065%	8h	6.7870	0.000%	$5.5M	$3.8M	75x	as long as short
Bitget ENSUSDT	−0.0063%	8h	6.7910	+0.059%	$2.9M	$1.3M	75x	as long as short
Aster ENSUSDT	+0.0010%	8h	6.7908	+0.055%	$14K	$94K	10x	as long as short
BloFin ENS-USDT	+0.0066%	8h	6.7930	+0.088%	$316K	$73K	20x	as long as short
Extended ENS-USD	+0.0072%	1h	6.7900	+0.044%	$1K	$181K	10x	as long as short
MEXC ENS_USDT	+0.0075%	8h	6.7920	+0.074%	$5.6M	$866K	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-USDTlong	+0.0075%	8h	6.7870	long leg	—	$3.7M	—
Binance ENSUSDT	+0.0076%	8h	6.7934	+0.095%	$5.5M	$13.7M	75x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.8074	+0.301%	$3.1M	$412K	5x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.7890	+0.029%	$1.8M	$137K	50x	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.7970	+0.147%	$24K	$607K	50x	as long as short