Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0158%/8h= +17.3% APRpaid last 24h −0.003%

Price spread now: ApeX Omni against OKX+0.266%50s7-day average +0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$640.641% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.084%−$8 on $10k

Price spread, last 3 days (all we have)−0.230%−$23 · spread now +0.266%, 7d avg +0.100%

Together, before fees−0.314%−$31 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and ApeX Omni is 0.167% dearer against OKX than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.100%. Mind the row above: over the last 7 days funding on this pair cost −0.084%, so the current rate has only just turned in your favour. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ENS-USDT-SWAP	6.7600	−0.0058	get 0.0058% / 8h	1h 46m	$2.4M	$3.4M	20x
Short	ApeX Omni ENSUSDT	6.7780	0.0100	get 0.0013% / 1h	46m 38s	$24K	$608K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now +0.266%Rate

Funding earned: $33.15
Price spread: +0.266% → +0.100%: $16.66
Slippage, 4 orders: −$44.07
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$14.25
Costs to cover: 0.641%
Break-even: 10.0 days

Slippage from OKX: live order book, 1 min ago; ApeX Omni: live order book, 36 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 OKX live order book, 1 min ago	2.22 bp	16.2 bp −$16	72.9 bp −$729	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 36 min ago	6.62 bp	14.8 bp −$15	101.0 bp −$1,010	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	6.7595	−0.007%	$91K	$436K	20x	as long as short
Gate ENS_USDT	−0.0224%	8h	6.7600	0.000%	$458K	$564K	75x	as long as short
Variational Omni ENS	−0.0134%	8h	6.7704	+0.154%	$111K	$6K	—	as long as short
Bybit ENSUSDT	−0.0076%	8h	6.7590	−0.015%	$5.4M	$3.8M	75x	as long as short
Bitget ENSUSDT	−0.0068%	8h	6.7620	+0.030%	$2.9M	$1.3M	75x	as long as short
OKX ENS-USDT-SWAPlong	−0.0058%	8h	6.7600	long leg	$2.4M	$3.4M	20x
Aster ENSUSDT	−0.0012%	8h	6.7681	+0.119%	$8K	$89K	10x	as long as short
BingX ENS-USDT	+0.0051%	8h	6.7620	+0.030%	—	$3.7M	—	as long as short
BloFin ENS-USDT	+0.0052%	8h	6.7630	+0.044%	$308K	$73K	20x	as long as short
MEXC ENS_USDT	+0.0055%	8h	6.7680	+0.118%	$5.5M	$832K	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENSUSDT	+0.0055%	8h	6.7669	+0.102%	$5.3M	$13.7M	75x	as long as short
Extended ENS-USD	+0.0056%	1h	6.7667	+0.099%	$1K	$181K	10x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.7831	+0.342%	$3.1M	$411K	5x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.7710	+0.163%	$1.8M	$139K	50x	as long as short
ApeX Omni ENSUSDTshort	+0.0100%	1h	6.7780	+0.266%	$24K	$608K	50x