Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.011%

Price spread now: Bitget against KuCoin−0.111%7-day average −0.062% · 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−$62as in the Price arb table

costs, in and out, $10k−$570.569% of the position

Long on KuCoin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.047%+$5 on $10k

Price spread, last 7 days+0.099%+$10 · spread now −0.111%, 7d avg −0.062%

Together, before fees+0.147%+$15 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: Bitget is 0.049% cheaper against KuCoin than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENAUSDTM	0.2167	0.0100	pay 0.0050% / 4h	3h 14m	$24.9M	$16.5M	75x
Short	Bitget ENAUSDT	0.2165	0.0100	get 0.0050% / 4h	3h 14m	$49.1M	$61.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.111%Rate

Funding earned: $0
Price spread: −0.111% → −0.062%: −$4.92
Slippage, 4 orders: −$32.9
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$61.82
Costs to cover: 0.569%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Bitget: 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 KuCoin live order book, 5 min ago	3.02 bp	20.7 bp −$21	46.6 bp −$466	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	0.70 bp	9.2 bp −$9	13.6 bp −$136	37.8 bp −$3,781	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2166	−0.051%	$81K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2166	−0.078%	$104K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0032%	4h	0.2165	−0.097%	$42K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−2.021%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0066%	1h	0.2161	−0.289%	$143K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2164	−0.148%	$63K	$517K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2163	−0.180%	$716K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2166	−0.034%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2163	−0.200%	$426K	$553K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2167	−0.031%	$135.1M	$442.8M	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	0.2163	−0.208%	$89.1M	$187.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2162	−0.249%	$21.3M	$110.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2156	−0.531%	$16K	$413K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2164	−0.148%	$107K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2150	−0.790%	$94K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2167	−0.014%	$11.0M	$21.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2167	−0.028%	$46.1M	$44.8M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2167	long leg	$24.9M	$16.5M	75x
Bitget ENAUSDTshort	+0.0100%	4h	0.2165	−0.111%	$49.1M	$61.3M	75x
BingX ENA-USDT	+0.0100%	4h	0.2167	−0.032%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2168	+0.028%	$384K	$402K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2157	−0.461%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2155	−0.555%	$250K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2154	−0.630%	$356K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2154	−0.609%	$33K	$687K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2165	−0.111%	$181K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2112	−2.524%	$1K	$833K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2167	−0.009%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2170	+0.138%	$282K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2166	−0.055%	$2.0M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2162	−0.246%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2166	−0.071%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2153	−0.669%	$8K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0176%	1h	0.2164	−0.161%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0230%	1h	0.2168	+0.040%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0328%	1h	0.2166	−0.041%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0334% / S −0.0430%	1h	0.2166	−0.060%	$82K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2160	−0.332%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2164	−0.135%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2168	+0.060%	$859K	$1.8M	50x	as long as short
Lighter ENA	+0.0720%	1h	0.2170	+0.115%	$6.0M	$13.1M	10x	as long as short
Hyperliquid ENA	+0.0774%	1h	0.2170	+0.115%	$118.0M	$74.7M	10x	as long as short