Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.029%

Price spread now: KuCoin against gTrade (Gains Network)−0.023%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. KuCoin is 0.023% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.023% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 19 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ENA/USD	0.2081	L +0.0003% / S −0.0003%	pay 0.0000% / 1h	4m 28s	$96K	—	150x
Short	KuCoin ENAUSDTM	0.2080	0.0100	get 0.0050% / 4h	2h 04m	$23.8M	$16.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee KuCoinbpOrdersPrice spread, now −0.023%Rate

Funding earned: $20.28
Price spread: −0.023% → 0.000%: −$2.26
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$3.98
Costs to cover: 0.220%
Break-even: 8.4 days

Slippage unknown: gTrade (Gains Network): no order-book sample; KuCoin: live order book, 4 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 4 min ago	2.39 bp	12.5 bp −$13	27.2 bp −$272	doesn't fit	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0292%	1h	0.2079	−0.095%	$359K	$484K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0079%	4h	0.2079	−0.090%	$40K	$23K	10x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2080	−0.051%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2079	−0.061%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USDlong	L +0.0003% / S −0.0003%	1h	0.2081	long leg	$96K	—	150x
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+2.049%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2090	+0.444%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2079	−0.085%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2078	−0.129%	$47K	$221	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2079	−0.061%	$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	0.2079	−0.084%	$402K	$592K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2079	−0.066%	$128.0M	$465.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2079	−0.109%	$86.4M	$193.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2079	−0.075%	$20.1M	$112.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2088	+0.343%	$20K	$412K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2080	−0.037%	$81K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2087	+0.293%	$88K	$2K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2078	−0.128%	$10.4M	$21.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2080	−0.037%	$45.1M	$49.5M	200x	as long as short
KuCoin ENAUSDTMshort	+0.0100%	4h	0.2080	−0.023%	$23.8M	$16.7M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2078	−0.152%	$47.0M	$65.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2080	−0.027%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2080	−0.025%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2091	+0.472%	$248K	$7.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2091	+0.495%	$349K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2086	+0.251%	$31K	$712K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2078	−0.126%	$652K	$1.8M	10x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2080	−0.018%	$191K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2031	−2.416%	$1K	$812K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2078	−0.133%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2086	+0.271%	$271K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2078	−0.133%	$1.8M	$9.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2079	−0.085%	$76K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0105%	1h	0.2079	−0.065%	$2.6M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0184%	1h	0.2079	−0.103%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0215% / S −0.0164%	1h	0.2080	−0.014%	$50K	—	100x	as long as short
Lighter ENA	+0.0312%	1h	0.2082	+0.035%	$5.6M	$13.2M	10x	as long as short
Hyperliquid ENA	+0.0339%	1h	0.2082	+0.078%	$109.7M	$80.2M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2076	−0.234%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2079	−0.073%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2086	+0.232%	$797K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.5061%	1h	0.2080	−0.054%	$137K	$15K	5x	as long as short