Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.1139%/8h= −124.7% APRpaid last 24h −0.238%

Price spread now: Kraken Futures against Variational Omni−0.008%7-day average +0.127% · you buy dearer than you sell

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

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+1.523%+$152 on $10k

Price spread, last 4 days (all we have)+0.063%+$6 · spread now −0.008%, 7d avg +0.127%

Together, before fees+1.585%+ Points / potential airdropVariational Omni: Active · farm board+$159 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$34 a day on $10k at the current rate, and Kraken Futures is 0.135% cheaper against Variational Omni than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.127%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +1.523%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ENS	6.5425	0.0100	pay 0.0100% / 8h	2h 28m	$104K	$9K	—
Short	Kraken Futures PF_ENSUSD	6.5419	−0.1039	pay 0.0130% / 1h	28m 39s	$89K	$379K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$239.19
Price spread: −0.008% → +0.127%: −$13.52
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$262.72
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 20 min ago; Kraken Futures: live order book, 19 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, 20 min ago	6.49 bp	doesn't fit	44.2 bp −$442	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 19 min ago	14.38 bp	32.2 bp −$32	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_ENSUSDshort	−0.1039%	1h	6.5419	−0.008%	$89K	$379K	20x
Gate ENS_USDT	+0.0033%	8h	6.5370	−0.084%	$455K	$570K	75x	as long as short
OKX ENS-USDT-SWAP	+0.0058%	8h	6.5300	−0.191%	$2.3M	$3.4M	20x	as long as short
BloFin ENS-USDT	+0.0099%	8h	6.5490	+0.100%	$292K	$78K	20x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.5479	+0.082%	$9K	$105K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.5400	−0.038%	$5.0M	$13.6M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.5340	−0.130%	$5.3M	$3.4M	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.5400	−0.038%	$6.1M	$869K	75x	as long as short
KuCoin ENSUSDTM	+0.0100%	8h	6.5530	+0.161%	$1.7M	$122K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.5320	−0.160%	$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	6.5330	−0.145%	—	$7.7M	—	as long as short
Variational Omni ENSlong	+0.0100%	8h	6.5425	long leg	$104K	$9K	—
ApeX Omni ENSUSDT	+0.0100%	1h	6.5630	+0.314%	$24K	$605K	50x	as long as short
Extended ENS-USD	+0.0104%	1h	6.5343	−0.126%	$3K	$259K	10x	as long as short
Hyperliquid ENS	+0.0200%	1h	6.5576	+0.231%	$3.0M	$294K	5x	as long as short