Funding arb · Price arb /

ENS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0139%/8h= −15.3% APRpaid last 24h −0.004%

Price spread now: Aster against Hyperliquid−0.148%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Aster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Aster is 0.148% cheaper against Hyperliquid than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ENS	6.7794	0.0100	pay 0.0013% / 1h	46m 14s	$3.1M	$415K	5x
Short	Aster ENSUSDT	6.7694	−0.0039	pay 0.0039% / 8h	2h 46m	$9K	$87K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hyperliquid. 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 HyperliquidbpFee AsterbpOrdersPrice spread, now −0.148%Rate

Funding earned: −$29.25
Price spread: −0.148% → 0.000%: −$14.82
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$61.07
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 5 min ago; Aster: no order-book sample. 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 Hyperliquid live order book, 5 min ago	1.03 bp	14.6 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.2141%	1h	6.7621	−0.255%	$92K	$436K	20x	as long as short
ApeX Omni ENSUSDT	−0.0291%	1h	6.7670	−0.183%	$24K	$613K	50x	as long as short
Gate ENS_USDT	−0.0256%	8h	6.7680	−0.168%	$460K	$576K	75x	as long as short
Variational Omni ENS	−0.0161%	8h	6.7510	−0.418%	$111K	$6K	—	as long as short
Bybit ENSUSDT	−0.0141%	8h	6.7600	−0.286%	$5.4M	$3.8M	75x	as long as short
OKX ENS-USDT-SWAP	−0.0053%	8h	6.7650	−0.212%	$2.4M	$3.5M	20x	as long as short
Aster ENSUSDTshort	−0.0039%	8h	6.7694	−0.148%	$9K	$87K	10x
Bitget ENSUSDT	−0.0021%	8h	6.7610	−0.271%	$2.9M	$1.3M	75x	as long as short
BloFin ENS-USDT	+0.0031%	8h	6.7680	−0.168%	$314K	$73K	20x	as long as short
Extended ENS-USD	+0.0032%	1h	6.7613	−0.266%	$1K	$181K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ENS_USDT	+0.0034%	8h	6.7650	−0.212%	$5.5M	$822K	75x	as long as short
Binance ENSUSDT	+0.0035%	8h	6.7660	−0.198%	$5.3M	$13.8M	75x	as long as short
BingX ENS-USDT	+0.0048%	8h	6.7620	−0.257%	—	$3.9M	—	as long as short
Hyperliquid ENSlong	+0.0100%	1h	6.7794	long leg	$3.1M	$415K	5x
KuCoin ENSUSDTM	+0.0100%	8h	6.7680	−0.168%	$1.8M	$140K	50x	as long as short