Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0034%/8h= +3.7% APRpaid last 24h +0.114%

Price spread now: Aster against Kraken Futures−0.021%7-day average −0.018% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$520.516% of the position

Long on Kraken Futures Short on Aster

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)−0.488%−$49 · spread now −0.021%, 7d avg −0.018%

Together, before fees−0.488%+ Points / potential airdropAster: Stage 5 · farm board−$49 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.018%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ENAUSD	0.2098	0.0066	pay 0.0008% / 1h	43m 10s	$2.6M	$5.6M	50x
Short	Aster ENAUSDT	0.2098	0.0100	get 0.0050% / 4h	1h 43m	$1.5M	$3.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now −0.021%Rate

Funding earned: $7.1
Price spread: −0.021% → −0.018%: −$0.3
Slippage, 4 orders: −$33.56
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$44.76
Costs to cover: 0.516%
Break-even: 51.1 days

Slippage from Kraken Futures: live order book, 1 min ago; Aster: live order book, 5 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 Kraken Futures live order book, 1 min ago	9.05 bp	15.9 bp −$16	20.4 bp −$204	91.0 bp −$9,102	doesn't fit
Sell Aster live order book, 5 min ago	2.39 bp	12.6 bp −$13	22.6 bp −$226	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	−0.0069%	4h	0.2096	−0.091%	$41K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0034%	1h	0.2101	+0.128%	$362K	$482K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2097	−0.053%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2097	−0.046%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.205%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSDlong	+0.0066%	1h	0.2098	long leg	$2.6M	$5.6M	50x
01 Exchange ENAUSD	+0.0088%	1h	0.2099	+0.066%	$4K	$432	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2098	−0.005%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2098	−0.009%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2097	−0.044%	$658K	$1.8M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDTshort	+0.0100%	4h	0.2098	−0.021%	$1.5M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2098	+0.018%	$406K	$582K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2098	−0.001%	$129.2M	$461.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2097	−0.067%	$87.2M	$192.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2098	−0.015%	$20.3M	$112.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2089	−0.449%	$21K	$413K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2099	+0.042%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2090	−0.383%	$88K	$1K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2098	−0.010%	$10.5M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2097	−0.039%	$45.0M	$46.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2099	+0.037%	$24.0M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2096	−0.110%	$47.5M	$65.3M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2097	−0.058%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2089	−0.437%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2094	−0.211%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2095	−0.143%	$354K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2096	−0.101%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2099	+0.047%	$188K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2047	−2.441%	$1K	$814K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2097	−0.053%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2101	+0.142%	$274K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2096	−0.101%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2097	−0.063%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2097	−0.034%	$5K	$356K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0224% / S −0.0372%	1h	0.2096	−0.085%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0280%	1h	0.2096	−0.108%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2099	+0.028%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2098	−0.028%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0488%	1h	0.2100	+0.095%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0561%	1h	0.2102	+0.175%	$110.9M	$79.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2097	−0.063%	$801K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1888%	1h	0.2098	−0.006%	$139K	$15K	5x	as long as short