Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: KuCoin against GRVT+0.482%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$560.562% of the position

Long on GRVT Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.049%−$5 on $10k

Price spread, last 7 days−0.384%−$38 · spread now +0.482%, 7d avg −0.020%

Together, before fees−0.434%+ Points / potential airdropGRVT: Active · farm board−$43 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 0.502% dearer against GRVT than usual: you sell high and buy low, +$50 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	GRVT ENA_USDT_Perp	0.2116	0.0100	pay 0.0050% / 4h	51m 02s	$351K	$4.6M	10x
Short	KuCoin ENAUSDTM	0.2126	0.0100	get 0.0050% / 4h	51m 02s	$24.5M	$16.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against GRVT. 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 GRVTbpFee KuCoinbpOrdersPrice spread, now +0.482%Rate

Funding earned: $0
Price spread: +0.482% → −0.020%: $50.17
Slippage, 4 orders: −$35.18
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$6.02
Costs to cover: 0.562%
Break-even: never at this rate

Slippage from GRVT: live order book, 3 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 GRVT live order book, 3 min ago	4.71 bp	15.7 bp −$16	26.6 bp −$266	doesn't fit	doesn't fit
Sell KuCoin live order book, 8 min ago	2.36 bp	12.2 bp −$12	33.5 bp −$335	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
Orderly PERP_ENA_USDC	−0.0031%	4h	0.2124	+0.392%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2125	+0.416%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2125	+0.407%	$106K	—	150x	as long as short
Backpack ENA_USDC_PERP	+0.0031%	1h	0.2126	+0.463%	$375K	$447K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.350%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2124	+0.378%	$63K	$529K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2124	+0.373%	$682K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2125	+0.432%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2125	+0.445%	$411K	$573K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2125	+0.406%	$131.3M	$455.6M	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	0.2124	+0.392%	$89.2M	$191.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2126	+0.454%	$20.6M	$112.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2128	+0.581%	$15K	$403K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2125	+0.425%	$84K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2122	+0.265%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2125	+0.416%	$10.9M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2125	+0.421%	$47.0M	$45.3M	200x	as long as short
KuCoin ENAUSDTMshort	+0.0100%	4h	0.2126	+0.482%	$24.5M	$16.4M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2124	+0.359%	$48.1M	$64.9M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2124	+0.402%	—	$32.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2119	+0.121%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2116	0.000%	$251K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perplong	+0.0100%	4h	0.2116	long leg	$351K	$4.6M	10x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2125	+0.421%	$179K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2073	−2.032%	$1K	$823K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2125	+0.425%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.614%	$276K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2124	+0.378%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2124	+0.376%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2125	+0.413%	$78K	$11K	3x	as long as short
ApeX Omni ENAUSDT	+0.0131%	1h	0.2128	+0.567%	$32K	$712K	50x	as long as short
01 Exchange ENAUSD	+0.0152%	1h	0.2126	+0.463%	$4K	$312	10x	as long as short
Phoenix ENA	+0.0189%	1h	0.2115	−0.028%	$6K	$347K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2126	+0.453%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2124	+0.399%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2124	+0.388%	$5.6M	$8.1M	75x	as long as short
Extended ENA-USD	+0.0344%	1h	0.2124	+0.380%	$1.6M	$4.2M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2124	+0.370%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2135	+0.874%	$843K	$2.1M	50x	as long as short
Lighter ENA	+0.0568%	1h	0.2128	+0.553%	$5.7M	$12.8M	10x	as long as short
Hyperliquid ENA	+0.0719%	1h	0.2129	+0.600%	$114.3M	$78.8M	10x	as long as short
dYdX ENA-USD	+0.1658%	1h	0.2125	+0.440%	$140K	$15K	5x	as long as short