Funding arb · Price arb /

ENS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.027%

Price spread now: Bybit against Variational Omni+0.226%7-day average −0.008% · you sell dearer than you buy

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.039%+$4 on $10k

Price spread, last 4 days (all we have)−0.616%−$62 · spread now +0.226%, 7d avg −0.008%

Together, before fees−0.577%+ Points / potential airdropVariational Omni: Active · farm board−$58 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: Bybit is 0.235% dearer against Variational Omni than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ENS	6.6669	0.0100	pay 0.0100% / 8h	6h 25m	$106K	$8K	—
Short	Bybit ENSUSDT	6.6820	0.0100	get 0.0100% / 8h	6h 25m	$5.4M	$3.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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 Variational OmnibpFee BybitbpOrdersPrice spread, now +0.226%Rate

Funding earned: $0
Price spread: +0.226% → −0.008%: $23.48
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $12.48
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 43 min ago; Bybit: live order book, 2 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, 43 min ago	6.40 bp	doesn't fit	45.7 bp −$457	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	3.01 bp	21.0 bp −$21	48.3 bp −$483	doesn't fit	doesn't fit

ENS on 14 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	−0.0814%	1h	6.6728	+0.088%	$88K	$445K	20x	as long as short
OKX ENS-USDT-SWAP	+0.0097%	8h	6.6820	+0.226%	$2.3M	$3.5M	20x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6720	+0.076%	$10K	$106K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6880	+0.316%	$5.1M	$14.2M	75x	as long as short
Bybit ENSUSDTshort	+0.0100%	8h	6.6820	+0.226%	$5.4M	$3.8M	75x
Gate ENS_USDT	+0.0100%	8h	6.6840	+0.256%	$453K	$567K	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6890	+0.331%	$5.4M	$778K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.6920	+0.376%	$1.8M	$146K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.6890	+0.331%	$2.9M	$1.4M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.6870	+0.301%	—	$7.8M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ENSlong	+0.0100%	8h	6.6669	long leg	$106K	$8K	—
ApeX Omni ENSUSDT	+0.0100%	1h	6.6510	−0.238%	$25K	$598K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.6873	+0.305%	$6K	$113K	10x	as long as short
Hyperliquid ENS	+0.0156%	1h	6.6962	+0.439%	$3.0M	$314K	5x	as long as short