Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against KuCoin−0.047%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$510.514% of the position

Long on KuCoin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.033%+$3 on $10k

Price spread, last 7 days+0.050%+$5 · spread now −0.047%, 7d avg −0.002%

Together, before fees+0.083%+$8 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: Binance is 0.045% 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 −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENAUSDTM	0.2137	0.0100	pay 0.0050% / 4h	3h 57m	$25.1M	$15.9M	75x
Short	Binance ENAUSDT	0.2136	0.0100	get 0.0050% / 4h	3h 57m	$130.0M	$426.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.047%Rate

Funding earned: $0
Price spread: −0.047% → −0.002%: −$4.48
Slippage, 4 orders: −$29.38
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$55.86
Costs to cover: 0.514%
Break-even: never at this rate

Slippage from KuCoin: live order book, 11 min ago; Binance: live order book, 16 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, 11 min ago	2.36 bp	17.9 bp −$18	38.0 bp −$380	doesn't fit	doesn't fit
Sell Binance live order book, 16 min ago	0.24 bp	8.8 bp −$9	16.6 bp −$166	64.1 bp −$6,411	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	−0.2759%	4h	0.2131	−0.299%	$1.9M	$9.0M	50x	as long as short
GRVT ENA_USDT_Perp	−0.0452%	4h	0.2123	−0.667%	$359K	$4.7M	10x	as long as short
Orderly PERP_ENA_USDC	−0.0082%	4h	0.2132	−0.229%	$44K	$17K	10x	as long as short
01 Exchange ENAUSD	−0.0072%	1h	0.2137	0.000%	$4K	$277	10x	as long as short
dYdX ENA-USD	0.0000%	1h	0.2135	−0.126%	$141K	$16K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2133	−0.220%	$76K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2133	−0.183%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.655%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2136	−0.066%	$54K	$486K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2133	−0.227%	$572K	$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	0.2136	−0.047%	$115.9M	$75.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2137	−0.027%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2135	−0.107%	$412K	$564K	10x	as long as short
Binance ENAUSDTshort	+0.0100%	4h	0.2136	−0.047%	$130.0M	$426.7M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2136	−0.066%	$89.6M	$191.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2135	−0.108%	$21.4M	$108.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2127	−0.463%	$33K	$313K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2137	−0.019%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2127	−0.509%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2135	−0.117%	$13.4M	$26.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2134	−0.159%	$39.5M	$42.4M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2137	long leg	$25.1M	$15.9M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2130	−0.323%	$48.3M	$60.4M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2135	−0.098%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2127	−0.484%	$3.1M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2126	−0.514%	$257K	$7.0M	20x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2125	−0.580%	$19K	$646K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2137	−0.033%	$176K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2077	−2.845%	$1K	$912K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2133	−0.206%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2134	−0.140%	$268K	$807K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2135	−0.102%	$48K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2134	−0.156%	$1.6M	$4.4M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2132	−0.265%	$75K	$4K	3x	as long as short
Lighter ENA	+0.0128%	1h	0.2137	−0.023%	$5.0M	$12.5M	10x	as long as short
Backpack ENA_USDC_PERP	+0.0160%	1h	0.2133	−0.215%	$413K	$483K	5x	as long as short
Phoenix ENA	+0.0190%	1h	0.2134	−0.164%	$13K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0196%	1h	0.2133	−0.188%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0754%	1h	0.2132	−0.239%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2123	−0.655%	$5.6M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2131	−0.316%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2129	−0.398%	$800K	$2.0M	50x	as long as short