Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against ApeX Omni−0.305%67s7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$630.633% of the position

Long on ApeX Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$7 on $10k

Price spread, last 3 days (all we have)+0.367%+$37 · spread now −0.305%, 7d avg −0.037%

Together, before fees+0.292%+$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: KuCoin is 0.268% cheaper against ApeX Omni than usual: you would sell low and buy high, −$27 on $10k if it goes back to its 7-day average of −0.037%. The two prices were read 67 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ENAUSDT	0.2098	0.0100	pay 0.0013% / 1h	10m 23s	$32K	$711K	50x
Short	KuCoin ENAUSDTM	0.2092	0.0100	get 0.0050% / 4h	2h 10m	$23.9M	$16.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against ApeX 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 ApeX OmnibpFee KuCoinbpOrdersPrice spread, now −0.305%Rate

Funding earned: $0
Price spread: −0.305% → −0.037%: −$26.81
Slippage, 4 orders: −$41.31
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$90.12
Costs to cover: 0.633%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 13 min ago; KuCoin: live order book, 8 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 ApeX Omni live order book, 13 min ago	7.10 bp	16.0 bp −$16	136.9 bp −$1,369	doesn't fit	doesn't fit
Sell KuCoin live order book, 8 min ago	2.62 bp	15.9 bp −$16	28.5 bp −$285	doesn't fit	doesn't fit

ENA on 42 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
Backpack ENA_USDC_PERP	−0.0289%	1h	0.2092	−0.300%	$361K	$483K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0082%	4h	0.2090	−0.372%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2091	−0.353%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2089	−0.434%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2091	−0.335%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.211%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0070%	4h	0.2090	−0.367%	$10.4M	$21.7M	50x	as long as short
Phoenix ENA	+0.0076%	1h	0.2094	−0.167%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2090	−0.381%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2091	−0.336%	$47K	$221	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2091	−0.338%	$655K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2091	−0.319%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2091	−0.310%	$405K	$593K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2091	−0.348%	$128.9M	$465.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2089	−0.405%	$87.1M	$193.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2091	−0.348%	$20.2M	$113.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2089	−0.410%	$19K	$418K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2092	−0.286%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2087	−0.531%	$88K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2090	−0.367%	$45.4M	$49.4M	200x	as long as short
KuCoin ENAUSDTMshort	+0.0100%	4h	0.2092	−0.305%	$23.9M	$16.6M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2089	−0.429%	$47.3M	$66.0M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2090	−0.377%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2085	−0.596%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2098	−0.019%	$249K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2091	−0.334%	$349K	$4.6M	10x	as long as short
ApeX Omni ENAUSDTlong	+0.0100%	1h	0.2098	long leg	$32K	$711K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2092	−0.300%	$182K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2038	−2.869%	$1K	$809K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2088	−0.477%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2097	−0.052%	$271K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2090	−0.381%	$1.9M	$9.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2091	−0.338%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2089	−0.409%	$2.6M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0184%	1h	0.2089	−0.410%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0215% / S −0.0164%	1h	0.2091	−0.357%	$50K	—	100x	as long as short
Lighter ENA	+0.0304%	1h	0.2094	−0.210%	$5.6M	$13.2M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2087	−0.534%	$5.5M	$8.1M	75x	as long as short
Hyperliquid ENA	+0.0350%	1h	0.2093	−0.222%	$110.4M	$80.8M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2090	−0.398%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2090	−0.400%	$800K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.5372%	1h	0.2091	−0.356%	$138K	$15K	5x	as long as short