Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0045%/8hnext payment −$0.45 per $10,000 · paid last 24h −0.019%

Price spread now: Variational Omni against Bybit−0.304%7-day average +0.017% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.032%−$3 on $10k

Price spread, last 3 days (all we have)+0.694%+$69 · spread now −0.304%, 7d avg +0.017%

Together, before fees+0.662%+ Points / potential airdropVariational Omni: Active · farm board+$66 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.322% cheaper against Bybit than usual: you would sell low and buy high (−$32 if the spread goes back to its 7-day average of +0.017%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENSUSDT	6.7490	−0.0095	get 0.0095% / 8h	4h 06m	$5.4M	$3.9M	75x
Short	Variational Omni ENS	6.7285	−0.0139	pay 0.0139% / 8h	4h 06m	$111K	$6K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now −0.304%Rate

Funding earned: −$9.37
Price spread: −0.304% → +0.017%: −$32.16
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$52.53
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 5 min ago; Variational Omni: RFQ quote, 26 min ago. Net counts fees only.

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, 5 min ago	2.97 bp	15.3 bp −$15	42.2 bp −$422	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 26 min ago	4.94 bp	doesn't fit	47.2 bp −$472	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	−0.2174%	1h	6.7452	−0.056%	$95K	$438K	20x	as long as short
Gate ENS_USDT	−0.0178%	8h	6.7480	−0.015%	$455K	$580K	75x	as long as short
Variational Omni ENSshort	−0.0139%	8h	6.7285	−0.304%	$111K	$6K	—
Bybit ENSUSDTlong	−0.0095%	8h	6.7490	long leg	$5.4M	$3.9M	75x
OKX ENS-USDT-SWAP	−0.0046%	8h	6.7490	0.000%	$2.4M	$3.5M	20x	as long as short
Aster ENSUSDT	−0.0001%	8h	6.7577	+0.129%	$8K	$86K	10x	as long as short
MEXC ENS_USDT	+0.0058%	8h	6.7550	+0.089%	$5.5M	$807K	75x	as long as short
Binance ENSUSDT	+0.0062%	8h	6.7556	+0.098%	$5.4M	$13.8M	75x	as long as short
Extended ENS-USD	+0.0064%	1h	6.7561	+0.105%	$1K	$181K	10x	as long as short
BloFin ENS-USDT	+0.0085%	8h	6.7490	0.000%	$320K	$72K	20x	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	+0.0087%	8h	6.7560	+0.104%	—	$3.9M	—	as long as short
Bitget ENSUSDT	+0.0090%	8h	6.7500	+0.015%	$2.9M	$1.4M	75x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.7692	+0.299%	$3.1M	$418K	5x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.7550	+0.089%	$1.8M	$142K	50x	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.7510	+0.030%	$24K	$615K	50x	as long as short