Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0071%/8h= +7.8% APRpaid last 24h +0.058%

Price spread now: Hyperliquid against Variational Omni+0.485%7-day average +0.232% · you sell dearer than you buy

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

Long on Variational Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.085%+$9 on $10k

Price spread, last 4 days (all we have)−0.408%−$41 · spread now +0.485%, 7d avg +0.232%

Together, before fees−0.322%+ Points / potential airdropVariational Omni: Active · Hyperliquid: Season 2 · farm board−$32 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.253% dearer against Variational Omni than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of +0.232%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ENS	6.6493	0.0100	pay 0.0100% / 8h	4h 02m	$106K	$9K	—
Short	Hyperliquid ENS	6.6816	0.0171	get 0.0021% / 1h	2m 22s	$3.0M	$294K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.485%Rate

Funding earned: $14.98
Price spread: +0.485% → +0.232%: $25.35
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $31.33
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 57 min ago; Hyperliquid: live order book, 9 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, 57 min ago	4.21 bp	doesn't fit	53.5 bp −$535	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	1.57 bp	21.5 bp −$22	doesn't fit	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	−0.0849%	1h	6.6742	+0.374%	$90K	$407K	20x	as long as short
Gate ENS_USDT	+0.0055%	8h	6.6560	+0.100%	$454K	$563K	75x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6658	+0.247%	$9K	$105K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6664	+0.257%	$5.1M	$13.5M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6650	+0.236%	$5.4M	$3.6M	75x	as long as short
OKX ENS-USDT-SWAP	+0.0100%	8h	6.6710	+0.326%	$2.3M	$3.3M	20x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6670	+0.266%	$5.6M	$739K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.6640	+0.221%	$1.8M	$133K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.6640	+0.221%	$2.9M	$1.2M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.6630	+0.205%	—	$7.8M	—	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	6.6493	long leg	$106K	$9K	—
ApeX Omni ENSUSDT	+0.0100%	1h	6.6590	+0.145%	$25K	$599K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.6654	+0.242%	$2K	$124K	10x	as long as short
BloFin ENS-USDT	+0.0113%	8h	6.6680	+0.281%	$299K	$73K	20x	as long as short
Hyperliquid ENSshort	+0.0171%	1h	6.6816	+0.485%	$3.0M	$294K	5x