Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.039%

Price spread now: ApeX Omni against Variational Omni−0.220%7-day average +0.126% · you buy dearer than you sell

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.030%+$3 on $10k

Price spread, last 4 days (all we have)+0.256%+$26 · spread now −0.220%, 7d avg +0.126%

Together, before fees+0.286%+ Points / potential airdropVariational Omni: Active · farm board+$29 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: ApeX Omni is 0.346% cheaper against Variational Omni than usual: you would sell low and buy high, −$35 on $10k if it goes back to its 7-day average of +0.126%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ENS	6.5775	0.0100	pay 0.0100% / 8h	2h 31m	$105K	$9K	—
Short	ApeX Omni ENSUSDT	6.5630	0.0100	get 0.0013% / 1h	31m 31s	$24K	$605K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now −0.220%Rate

Funding earned: $0
Price spread: −0.220% → +0.126%: −$34.62
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$44.62
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 17 min ago; ApeX Omni: live order book, 16 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 Variational Omni RFQ quote, 17 min ago	6.49 bp	doesn't fit	44.2 bp −$442	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 16 min ago	5.30 bp	12.3 bp −$12	97.2 bp −$972	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	−0.1038%	1h	6.5463	−0.474%	$89K	$379K	20x	as long as short
Gate ENS_USDT	+0.0027%	8h	6.5530	−0.372%	$457K	$568K	75x	as long as short
OKX ENS-USDT-SWAP	+0.0059%	8h	6.5460	−0.479%	$2.3M	$3.4M	20x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.5595	−0.274%	$9K	$105K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.5537	−0.361%	$5.0M	$13.6M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.5490	−0.433%	$5.3M	$3.4M	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.5540	−0.357%	$6.1M	$869K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.5560	−0.327%	$1.7M	$122K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.5530	−0.372%	$2.8M	$1.2M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.5530	−0.372%	—	$7.7M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ENSlong	+0.0100%	8h	6.5775	long leg	$105K	$9K	—
ApeX Omni ENSUSDTshort	+0.0100%	1h	6.5630	−0.220%	$24K	$605K	50x
Extended ENS-USD	+0.0104%	1h	6.5533	−0.367%	$3K	$259K	10x	as long as short
BloFin ENS-USDT	+0.0118%	8h	6.5590	−0.281%	$293K	$78K	20x	as long as short
Hyperliquid ENS	+0.0218%	1h	6.5615	−0.243%	$3.0M	$294K	5x	as long as short