Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.010%

Price spread now: Extended against Bybit+0.014%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$680.680% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+0.007%+$1 · spread now +0.014%, 7d avg +0.052%

Together, before fees−0.018%+ Points / potential airdropExtended: Active · farm board−$2 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: Extended is 0.037% cheaper against Bybit than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENSUSDT	6.6360	0.0100	pay 0.0100% / 8h	6h 17m	$5.4M	$3.1M	75x
Short	Extended ENS-USD	6.6370	0.0104	get 0.0013% / 1h	17m 53s	$1K	$252K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BybitbpFee ExtendedbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0.84
Price spread: +0.014% → +0.052%: −$3.72
Slippage, 4 orders: −$51.97
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$70.85
Costs to cover: 0.680%
Break-even: 597.4 days

Slippage from Bybit: live order book, 3 min ago; Extended: live order book, 32 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 Bybit live order book, 3 min ago	2.26 bp	15.1 bp −$15	54.5 bp −$545	doesn't fit	doesn't fit
Sell Extended live order book, 32 min ago	1.81 bp	16.7 bp −$17	200.9 bp −$2,009	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_ENSUSD	−0.0955%	1h	6.6367	+0.011%	$93K	$270K	20x	as long as short
OKX ENS-USDT-SWAP	+0.0007%	8h	6.6340	−0.030%	$2.3M	$3.1M	20x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.6483	+0.185%	$3.0M	$209K	5x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6391	+0.046%	$8K	$125K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6410	+0.075%	$5.1M	$12.4M	75x	as long as short
Bybit ENSUSDTlong	+0.0100%	8h	6.6360	long leg	$5.4M	$3.1M	75x
Gate ENS_USDT	+0.0100%	8h	6.6340	−0.030%	$439K	$594K	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6390	+0.045%	$6.9M	$983K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.6370	+0.015%	$1.7M	$120K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.6370	+0.015%	$2.9M	$1.2M	75x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ENS-USDT	+0.0100%	8h	6.6350	−0.015%	—	$11.3M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.6271	−0.133%	$108K	$21K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.6390	+0.045%	$24K	$602K	50x	as long as short
Extended ENS-USDshort	+0.0104%	1h	6.6370	+0.014%	$1K	$252K	10x
BloFin ENS-USDT	+0.0108%	8h	6.6380	+0.030%	$293K	$75K	20x	as long as short