Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0047%/8h= +5.2% APRpaid last 24h +0.020%

Price spread now: Extended against OKX+0.087%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$730.730% of the position

Long on OKX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.128%−$13 · spread now +0.087%, 7d avg +0.018%

Together, before fees−0.126%+ Points / potential airdropExtended: Active · farm board−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Extended is 0.069% dearer against OKX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ENS-USDT-SWAP	6.5420	0.0057	pay 0.0057% / 8h	2h 28m	$2.3M	$3.4M	20x
Short	Extended ENS-USD	6.5477	0.0104	get 0.0013% / 1h	28m 52s	$3K	$259K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.087%Rate

Funding earned: $9.95
Price spread: +0.087% → +0.018%: $6.86
Slippage, 4 orders: −$58.04
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$56.22
Costs to cover: 0.730%
Break-even: 46.5 days

Slippage from OKX: live order book, 3 min ago; Extended: live order book, 18 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, 3 min ago	3.05 bp	17.7 bp −$18	83.9 bp −$839	doesn't fit	doesn't fit
Sell Extended live order book, 18 min ago	2.58 bp	17.6 bp −$18	170.5 bp −$1,705	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	−0.1039%	1h	6.5419	−0.001%	$89K	$379K	20x	as long as short
Gate ENS_USDT	+0.0032%	8h	6.5510	+0.138%	$456K	$570K	75x	as long as short
OKX ENS-USDT-SWAPlong	+0.0057%	8h	6.5420	long leg	$2.3M	$3.4M	20x
BloFin ENS-USDT	+0.0099%	8h	6.5490	+0.107%	$292K	$78K	20x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.5529	+0.167%	$9K	$105K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.5500	+0.122%	$5.0M	$13.6M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.5460	+0.061%	$5.3M	$3.4M	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.5480	+0.092%	$6.1M	$869K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.5530	+0.168%	$1.7M	$122K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.5500	+0.122%	$2.8M	$1.2M	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	6.5470	+0.076%	—	$7.7M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.5425	+0.007%	$104K	$9K	—	as long as short
ApeX Omni ENSUSDT	+0.0100%	1h	6.5630	+0.321%	$24K	$605K	50x	as long as short
Extended ENS-USDshort	+0.0104%	1h	6.5477	+0.087%	$3K	$259K	10x
Hyperliquid ENS	+0.0200%	1h	6.5576	+0.238%	$3.0M	$294K	5x	as long as short