Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0141%/8h= +15.4% APRpaid last 24h −0.114%

Price spread now: Kraken Futures against Aster+0.045%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$520.519% of the position

Long on Aster Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.464%+$46 · spread now +0.045%, 7d avg +0.018%

Together, before fees+0.464%+ Points / potential airdropAster: Stage 5 · farm board+$46 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Kraken Futures is 0.027% dearer against Aster than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ENAUSDT	0.2122	0.0100	pay 0.0050% / 4h	56m 41s	$1.5M	$3.3M	50x
Short	Kraken Futures PF_ENAUSD	0.2123	0.0241	get 0.0030% / 1h	56m 41s	$2.7M	$5.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Aster. 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 AsterbpFee Kraken FuturesbpOrdersPrice spread, now +0.045%Rate

Funding earned: $29.53
Price spread: +0.045% → +0.018%: $2.66
Slippage, 4 orders: −$33.93
Fee Aster: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$19.73
Costs to cover: 0.519%
Break-even: 11.7 days

Slippage from Aster: live order book, 2 min ago; Kraken Futures: 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 Aster live order book, 2 min ago	3.54 bp	7.8 bp −$8	18.1 bp −$181	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	9.68 bp	16.0 bp −$16	25.2 bp −$252	126.2 bp −$12.6K	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
Orderly PERP_ENA_USDC	−0.0035%	4h	0.2121	−0.032%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2122	+0.015%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2123	+0.078%	$106K	—	150x	as long as short
Backpack ENA_USDC_PERP	+0.0014%	1h	0.2123	+0.039%	$375K	$447K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.076%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2122	+0.010%	$63K	$531K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2123	+0.055%	$682K	$1.8M	10x	as long as short
Aster ENAUSDTlong	+0.0100%	4h	0.2122	long leg	$1.5M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2120	−0.085%	$410K	$573K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2119	−0.111%	$131.1M	$455.7M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2119	−0.150%	$89.1M	$190.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2119	−0.150%	$20.5M	$111.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2117	−0.207%	$15K	$400K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2123	+0.057%	$83K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2122	−0.009%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2120	−0.079%	$10.8M	$21.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2120	−0.098%	$46.7M	$45.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2120	−0.070%	$24.4M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2118	−0.174%	$48.0M	$64.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2119	−0.108%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2115	−0.312%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2118	−0.195%	$252K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	−0.226%	$351K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	−0.178%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2124	+0.086%	$179K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2072	−2.365%	$1K	$820K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2122	+0.010%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2124	+0.114%	$275K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2122	+0.010%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2122	+0.021%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2122	−0.008%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2120	−0.065%	$5K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0160%	1h	0.2124	+0.100%	$4K	$312	10x	as long as short
Kraken Futures PF_ENAUSDshort	+0.0241%	1h	0.2123	+0.045%	$2.7M	$5.5M	50x
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2123	+0.068%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2123	+0.072%	$5.6M	$8.1M	75x	as long as short
Extended ENA-USD	+0.0360%	1h	0.2119	−0.143%	$1.6M	$4.2M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2123	+0.040%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0517%	1h	0.2123	+0.057%	$112.3M	$78.7M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2125	+0.147%	$839K	$2.1M	50x	as long as short
Lighter ENA	+0.0624%	1h	0.2122	+0.006%	$5.7M	$12.8M	10x	as long as short
dYdX ENA-USD	+0.1940%	1h	0.2120	−0.079%	$140K	$15K	5x	as long as short