Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against Arcus−0.115%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$560.561% of the position

Long on Arcus Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.175%+$17 · spread now −0.115%, 7d avg −0.020%

Together, before fees+0.175%+$17 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 0.094% cheaper against Arcus than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ENA-USD	0.2094	0.0100	pay 0.0013% / 1h	31m 28s	$82K	$222K	10x
Short	KuCoin ENAUSDTM	0.2092	0.0100	get 0.0050% / 4h	1h 31m	$23.9M	$16.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Arcus. 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 ArcusbpFee KuCoinbpOrdersPrice spread, now −0.115%Rate

Funding earned: $0
Price spread: −0.115% → −0.020%: −$9.43
Slippage, 4 orders: −$39.61
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$65.54
Costs to cover: 0.561%
Break-even: never at this rate

Slippage from Arcus: live order book, 52 min ago; KuCoin: live order book, 2 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 Arcus live order book, 52 min ago	9.48 bp	12.5 bp −$12	23.8 bp −$238	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	1.19 bp	11.4 bp −$11	36.4 bp −$364	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	−0.0081%	1h	0.2093	−0.067%	$361K	$461K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0064%	4h	0.2091	−0.158%	$40K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2091	−0.134%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2090	−0.202%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.404%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2093	−0.055%	$2.6M	$5.6M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2090	−0.191%	$61K	$537K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2094	−0.004%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2091	−0.143%	$658K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2094	−0.009%	$1.5M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2094	+0.005%	$405K	$581K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2092	−0.108%	$128.9M	$457.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2090	−0.201%	$86.9M	$191.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2091	−0.167%	$20.2M	$111.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2091	−0.148%	$15K	$405K	5x	as long as short
Arcus ENA-USDlong	+0.0100%	1h	0.2094	long leg	$82K	$222K	10x
Bulk ENA-USD	+0.0100%	1h	0.2098	+0.184%	$88K	$1K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2093	−0.043%	$10.4M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2090	−0.210%	$45.1M	$46.8M	200x	as long as short
KuCoin ENAUSDTMshort	+0.0100%	4h	0.2092	−0.115%	$23.9M	$16.5M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2089	−0.244%	$47.3M	$65.2M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2090	−0.205%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2091	−0.152%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2095	+0.051%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2093	−0.056%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2095	+0.048%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2091	−0.153%	$183K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2041	−2.555%	$1K	$814K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2091	−0.143%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2095	+0.043%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2091	−0.143%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2092	−0.119%	$77K	$11K	3x	as long as short
01 Exchange ENAUSD	+0.0112%	1h	0.2092	−0.105%	$4K	$432	10x	as long as short
Phoenix ENA	+0.0115%	1h	0.2096	+0.105%	$5K	$356K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0231% / S −0.0390%	1h	0.2089	−0.220%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0288%	1h	0.2092	−0.091%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2094	+0.014%	$5.5M	$8.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2090	−0.187%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0504%	1h	0.2097	+0.124%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0568%	1h	0.2094	−0.005%	$110.6M	$79.6M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2096	+0.096%	$806K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1912%	1h	0.2093	−0.061%	$138K	$15K	5x	as long as short