Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.1057%/8h= −115.7% APRpaid last 24h −0.346%

Price spread now: Kraken Futures against Bitget−0.036%7-day average +0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs+$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$960.962% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.555%+$156 on $10k

Price spread, last 4 days (all we have)−0.225%−$22 · spread now −0.036%, 7d avg +0.052%

Together, before fees+1.330%+$133 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$32 a day on $10k at the current rate, and Kraken Futures is 0.089% cheaper against Bitget than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.052%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.555%, 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	Bitget ENSUSDT	6.6380	0.0100	pay 0.0100% / 8h	5h 56m	$2.9M	$1.2M	75x
Short	Kraken Futures PF_ENSUSD	6.6356	−0.0957	pay 0.0120% / 1h	56m 13s	$94K	$262K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$221.98
Price spread: −0.036% → +0.052%: −$8.87
Slippage, 4 orders: −$74.21
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$327.06
Costs to cover: 0.962%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Kraken Futures: live order book, 54 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 Bitget live order book, 4 min ago	5.26 bp	16.4 bp −$16	38.1 bp −$381	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 54 min ago	16.59 bp	25.8 bp −$26	doesn't fit	doesn't fit	doesn't fit

ENS on 15 exchanges

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	−0.0957%	1h	6.6356	−0.036%	$94K	$262K	20x
OKX ENS-USDT-SWAP	+0.0027%	8h	6.6330	−0.075%	$2.3M	$3.0M	20x	as long as short
BloFin ENS-USDT	+0.0091%	8h	6.6570	+0.286%	$294K	$75K	20x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.6531	+0.227%	$3.0M	$200K	5x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6445	+0.098%	$8K	$124K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6410	+0.045%	$5.1M	$12.1M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6330	−0.075%	$5.4M	$3.1M	75x	as long as short
Gate ENS_USDT	+0.0100%	8h	6.6450	+0.105%	$440K	$585K	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6400	+0.030%	$6.9M	$924K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.6430	+0.075%	$1.7M	$118K	50x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ENSUSDTlong	+0.0100%	8h	6.6380	long leg	$2.9M	$1.2M	75x
BingX ENS-USDT	+0.0100%	8h	6.6390	+0.015%	—	$11.3M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.6364	−0.023%	$108K	$20K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.6510	+0.196%	$24K	$601K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.6398	+0.027%	$1K	$248K	10x	as long as short