Funding arb · Price arb /

ENS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.029%

Price spread now: Variational Omni against MEXC+0.287%7-day average −0.080% · you sell dearer than you buy

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

Long on MEXC Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.058%−$6 on $10k

Price spread, last 4 days (all we have)−0.213%−$21 · spread now +0.287%, 7d avg −0.080%

Together, before fees−0.270%+ Points / potential airdropVariational Omni: Active · farm board−$27 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: Variational Omni is 0.367% dearer against MEXC than usual: you sell high and buy low, +$37 on $10k if it goes back to its 7-day average of −0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ENS_USDT	6.5890	0.0100	pay 0.0100% / 8h	7h 33m	$6.9M	$1.0M	75x
Short	Variational Omni ENS	6.6079	0.0100	get 0.0100% / 8h	7h 33m	$108K	$17K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against MEXC. 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 MEXCbpFee Variational OmnibpOrdersPrice spread, now +0.287%Rate

Funding earned: $0
Price spread: +0.287% → −0.080%: $36.74
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $32.74
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: MEXC: live order book, 5 min ago; Variational Omni: RFQ quote, 1 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 MEXC live order book, 5 min ago	2.26 bp	8.1 bp −$8	16.9 bp −$169	60.0 bp −$6,002	107.3 bp −$53.7K
Sell Variational Omni RFQ quote, 1 min ago	6.50 bp	doesn't fit	43.8 bp −$438	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	−0.0950%	1h	6.5818	−0.110%	$90K	$342K	20x	as long as short
Gate ENS_USDT	−0.0228%	8h	6.5880	−0.015%	$459K	$551K	75x	as long as short
OKX ENS-USDT-SWAP	−0.0019%	8h	6.5840	−0.076%	$2.3M	$3.2M	20x	as long as short
Bybit ENSUSDT	+0.0022%	8h	6.5790	−0.152%	$5.3M	$3.2M	75x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.5987	+0.147%	$3.0M	$291K	5x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.5954	+0.098%	$7K	$102K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.5940	+0.076%	$5.1M	$13.2M	75x	as long as short
MEXC ENS_USDTlong	+0.0100%	8h	6.5890	long leg	$6.9M	$1.0M	75x
KuCoin ENSUSDTM	+0.0100%	8h	6.6000	+0.167%	$1.7M	$119K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.5900	+0.015%	$2.9M	$1.1M	75x	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	6.5890	0.000%	—	$7.5M	—	as long as short
Variational Omni ENSshort	+0.0100%	8h	6.6079	+0.287%	$108K	$17K	—
ApeX Omni ENSUSDT	+0.0100%	1h	6.6240	+0.531%	$24K	$608K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.5831	−0.089%	$3K	$252K	10x	as long as short
BloFin ENS-USDT	+0.0128%	8h	6.5930	+0.061%	$291K	$75K	20x	as long as short