Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0078%/8h= +8.5% APRpaid last 24h −0.012%

Price spread now: ApeX Omni against Gate+0.133%7-day average +0.095% · you sell dearer than you buy

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$810.812% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.097%−$10 on $10k

Price spread, last 3 days (all we have)−0.021%−$2 · spread now +0.133%, 7d avg +0.095%

Together, before fees−0.117%−$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and ApeX Omni is 0.038% dearer against Gate than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.095%. Mind the row above: over the last 7 days funding on this pair cost −0.097%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ENS_USDT	6.7750	0.0022	pay 0.0022% / 8h	7h 55m	$457K	$569K	75x
Short	ApeX Omni ENSUSDT	6.7840	0.0100	get 0.0013% / 1h	55m 37s	$25K	$607K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now +0.133%Rate

Funding earned: $16.38
Price spread: +0.133% → +0.095%: $3.8
Slippage, 4 orders: −$56.22
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$61.04
Costs to cover: 0.812%
Break-even: 33.1 days

Slippage from Gate: live order book, 16 min ago; ApeX Omni: live order book, 17 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 Gate live order book, 16 min ago	6.67 bp	26.1 bp −$26	146.4 bp −$1,464	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 17 min ago	6.67 bp	14.0 bp −$14	104.9 bp −$1,049	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	−0.1384%	1h	6.7932	+0.269%	$93K	$447K	20x	as long as short
Variational Omni ENS	−0.0036%	8h	6.8006	+0.378%	$111K	$5K	—	as long as short
OKX ENS-USDT-SWAP	−0.0035%	8h	6.7640	−0.162%	$2.4M	$3.5M	20x	as long as short
Bitget ENSUSDT	+0.0018%	8h	6.7670	−0.118%	$2.9M	$1.3M	75x	as long as short
Gate ENS_USDTlong	+0.0022%	8h	6.7750	long leg	$457K	$569K	75x
Aster ENSUSDT	+0.0100%	8h	6.7758	+0.012%	$15K	$103K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.7707	−0.064%	$5.4M	$14.0M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.7650	−0.148%	$5.4M	$3.8M	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.7700	−0.074%	$5.5M	$861K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.7780	+0.044%	$1.8M	$136K	50x	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	+0.0100%	8h	6.7730	−0.030%	—	$8.1M	—	as long as short
ApeX Omni ENSUSDTshort	+0.0100%	1h	6.7840	+0.133%	$25K	$607K	50x
Extended ENS-USD	+0.0104%	1h	6.7723	−0.040%	$1K	$176K	10x	as long as short
BloFin ENS-USDT	+0.0125%	8h	6.7900	+0.221%	$312K	$76K	20x	as long as short
Hyperliquid ENS	+0.0244%	1h	6.7875	+0.185%	$3.1M	$414K	5x	as long as short