Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Arcus against KuCoin−0.024%7-day average +0.014% · 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−$64as in the Price arb table

costs, in and out, $10k−$600.598% of the position

Long on KuCoin Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.001%$0 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now −0.024%, 7d avg +0.014%

Together, before fees+0.001%$0 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: Arcus is 0.038% cheaper against KuCoin than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENAUSDTM	0.2120	0.0100	pay 0.0050% / 4h	3h 55m	$24.9M	$15.9M	75x
Short	Arcus ENA-USD	0.2120	0.0100	get 0.0013% / 1h	55m 35s	$79K	$281K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against KuCoin. 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 KuCoinbpFee ArcusbpOrdersPrice spread, now −0.024%Rate

Funding earned: $0
Price spread: −0.024% → +0.014%: −$3.8
Slippage, 4 orders: −$43.28
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$63.58
Costs to cover: 0.598%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Arcus: live order book, 43 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 KuCoin live order book, 3 min ago	3.05 bp	12.7 bp −$13	35.9 bp −$359	doesn't fit	doesn't fit
Sell Arcus live order book, 43 min ago	9.53 bp	12.5 bp −$13	25.6 bp −$256	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
Phemex ENAUSDT	−0.2111%	4h	0.2125	+0.212%	$1.9M	$9.0M	50x	as long as short
GRVT ENA_USDT_Perp	−0.0452%	4h	0.2123	+0.125%	$359K	$4.7M	10x	as long as short
Orderly PERP_ENA_USDC	−0.0081%	4h	0.2123	+0.113%	$44K	$17K	10x	as long as short
01 Exchange ENAUSD	−0.0080%	1h	0.2119	−0.057%	$4K	$277	10x	as long as short
dYdX ENA-USD	0.0000%	1h	0.2127	+0.315%	$141K	$16K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2124	+0.179%	$76K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2124	+0.154%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.137%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2119	−0.071%	$53K	$486K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2124	+0.158%	$570K	$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
Hyperliquid ENA	+0.0100%	1h	0.2119	−0.061%	$115.0M	$75.1M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2121	+0.013%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2119	−0.047%	$409K	$564K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2119	−0.066%	$128.8M	$426.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2119	−0.052%	$88.5M	$191.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2120	−0.024%	$21.2M	$108.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2131	+0.490%	$33K	$313K	5x	as long as short
Arcus ENA-USDshort	+0.0100%	1h	0.2120	−0.024%	$79K	$281K	10x
Bulk ENA-USD	+0.0100%	1h	0.2127	+0.283%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2119	−0.052%	$13.3M	$26.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2119	−0.052%	$39.4M	$42.5M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2120	long leg	$24.9M	$15.9M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2117	−0.141%	$48.0M	$60.4M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2120	−0.038%	—	$31.4M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2123	+0.108%	$3.1M	$9.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2126	+0.279%	$257K	$7.0M	20x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2125	+0.212%	$19K	$646K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2125	+0.231%	$175K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2076	−2.094%	$1K	$913K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2123	+0.118%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.396%	$267K	$807K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2118	−0.127%	$47K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2119	−0.071%	$1.6M	$4.4M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2124	+0.158%	$74K	$4K	3x	as long as short
Lighter ENA	+0.0112%	1h	0.2122	+0.052%	$5.0M	$12.5M	10x	as long as short
Phoenix ENA	+0.0190%	1h	0.2134	+0.632%	$13K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0196%	1h	0.2124	+0.181%	$2.6M	$4.4M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0292%	1h	0.2124	+0.141%	$411K	$477K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0754%	1h	0.2124	+0.166%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2134	+0.613%	$4.8M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2124	+0.147%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2138	+0.811%	$803K	$2.0M	50x	as long as short