Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against Hyperliquid−0.178%7-day average −0.138% · you buy dearer than you sell

Net, funding: paid 7d − costs−$180as in the Funding arb table

Net, price: spread back to 7d avg − costs−$183as in the Price arb table

costs, in and out, $10k−$1791.789% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 7 days−0.064%−$6 · spread now −0.178%, 7d avg −0.138%

Together, before fees−0.075%+ Points / potential airdropHyperliquid: Season 2 · farm board−$7 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: KuCoin is 0.041% cheaper against Hyperliquid than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.138%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ENS	6.7811	0.0100	pay 0.0013% / 1h	18m 11s	$3.1M	$408K	5x
Short	KuCoin ENSUSDTM	6.7690	0.0100	get 0.0100% / 8h	1h 18m	$1.8M	$135K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.178%Rate

Funding earned: $0
Price spread: −0.178% → −0.138%: −$4.08
Slippage, 4 orders: −$157.89
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$182.97
Costs to cover: 1.789%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; KuCoin: live order book, 3 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 Hyperliquid live order book, 3 min ago	2.43 bp	28.4 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	8.86 bp	66.8 bp −$67	626.1 bp −$6,261	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	−0.2250%	1h	6.7592	−0.323%	$91K	$435K	20x	as long as short
Gate ENS_USDT	−0.0211%	8h	6.7630	−0.267%	$460K	$565K	75x	as long as short
Variational Omni ENS	−0.0125%	8h	6.7617	−0.287%	$111K	$5K	—	as long as short
OKX ENS-USDT-SWAP	−0.0085%	8h	6.7600	−0.311%	$2.4M	$3.4M	20x	as long as short
Bitget ENSUSDT	−0.0073%	8h	6.7700	−0.164%	$2.9M	$1.3M	75x	as long as short
Bybit ENSUSDT	−0.0067%	8h	6.7580	−0.341%	$5.4M	$3.8M	75x	as long as short
Aster ENSUSDT	+0.0002%	8h	6.7680	−0.194%	$8K	$89K	10x	as long as short
BloFin ENS-USDT	+0.0060%	8h	6.7670	−0.208%	$308K	$73K	20x	as long as short
BingX ENS-USDT	+0.0062%	8h	6.7630	−0.267%	—	$3.7M	—	as long as short
Extended ENS-USD	+0.0064%	1h	6.7678	−0.196%	$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
Binance ENSUSDT	+0.0068%	8h	6.7673	−0.203%	$5.3M	$13.4M	75x	as long as short
MEXC ENS_USDT	+0.0068%	8h	6.7670	−0.208%	$5.6M	$850K	75x	as long as short
Hyperliquid ENSlong	+0.0100%	1h	6.7811	long leg	$3.1M	$408K	5x
KuCoin ENSUSDTMshort	+0.0100%	8h	6.7690	−0.178%	$1.8M	$135K	50x
ApeX Omni ENSUSDT	+0.0100%	1h	6.7740	−0.105%	$24K	$606K	50x	as long as short