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 −0.003%

Price spread now: Bybit against KuCoin−0.111%7-day average −0.035% · 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−$59as in the Price arb table

costs, in and out, $10k−$510.512% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 7 days+0.117%+$12 · spread now −0.111%, 7d avg −0.035%

Together, before fees+0.108%+$11 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: Bybit is 0.076% cheaper against KuCoin than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENAUSDTM	0.2160	0.0100	pay 0.0050% / 4h	3h 11m	$24.8M	$16.5M	75x
Short	Bybit ENAUSDT	0.2157	0.0100	get 0.0050% / 4h	3h 11m	$88.8M	$186.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.111%Rate

Funding earned: $0
Price spread: −0.111% → −0.035%: −$7.6
Slippage, 4 orders: −$28.23
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$58.83
Costs to cover: 0.512%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Bybit: live order book, 3 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	1.16 bp	17.9 bp −$18	37.1 bp −$371	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.23 bp	8.7 bp −$9	17.5 bp −$175	58.4 bp −$5,843	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	0.2161	+0.046%	$81K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2159	−0.054%	$104K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0032%	4h	0.2157	−0.134%	$42K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.685%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2159	−0.037%	$53K	$526K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2158	−0.074%	$713K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2160	+0.014%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2160	−0.010%	$425K	$553K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2159	−0.059%	$134.7M	$442.2M	75x	as long as short
Bybit ENAUSDTshort	+0.0100%	4h	0.2157	−0.111%	$88.8M	$186.4M	50x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2157	−0.106%	$21.2M	$110.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2159	−0.046%	$16K	$413K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2161	+0.056%	$107K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2150	−0.450%	$94K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2159	−0.051%	$11.0M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2158	−0.069%	$45.7M	$44.8M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2160	long leg	$24.8M	$16.5M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2156	−0.171%	$48.8M	$61.2M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2158	−0.088%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2161	+0.042%	$384K	$395K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2158	−0.098%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2159	−0.049%	$250K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2161	+0.056%	$366K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2159	−0.037%	$33K	$686K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2159	−0.019%	$180K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2107	−2.445%	$1K	$834K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2160	+0.009%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2160	+0.014%	$280K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2159	−0.037%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2157	−0.117%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2158	−0.099%	$75K	$4K	3x	as long as short
dYdX ENA-USD	+0.0128%	1h	0.2160	+0.001%	$143K	$15K	5x	as long as short
Phoenix ENA	+0.0150%	1h	0.2162	+0.097%	$8K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0176%	1h	0.2161	+0.037%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0231%	1h	0.2162	+0.103%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0328%	1h	0.2158	−0.078%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0334% / S −0.0430%	1h	0.2158	−0.081%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2160	+0.032%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2158	−0.094%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2165	+0.232%	$857K	$1.8M	50x	as long as short
Lighter ENA	+0.0752%	1h	0.2162	+0.102%	$5.9M	$13.1M	10x	as long as short
Hyperliquid ENA	+0.0786%	1h	0.2163	+0.148%	$117.7M	$74.8M	10x	as long as short