Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0097%/8h= −10.6% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against KuCoin−0.104%7-day average — · 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−$361as in the Price arb table

costs, in and out, $10k−$3513.505% of the position

Long on KuCoin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.104% cheaper against KuCoin than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENAUSDTM	0.2094	0.0100	pay 0.0050% / 4h	1h 16m	$23.8M	$16.4M	75x
Short	gTrade (Gains Network) ENA/USD	0.2092	L +0.0003% / S −0.0003%	get 0.0000% / 1h	16m 25s	$101K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.104%Rate

Funding earned: −$20.32
Price spread: −0.104% → 0.000%: −$10.41
Slippage, 4 orders: −$328.52
Fee KuCoin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$381.25
Costs to cover: 3.505%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; gTrade (Gains Network): virtual book (oracle venue), 8 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, 2 min ago	1.19 bp	17.7 bp −$18	34.9 bp −$349	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 8 min ago	130.03 bp	135.0 bp −$135	748.2 bp −$7,482	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	−0.0049%	4h	0.2092	−0.110%	$40K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0046%	1h	0.2093	−0.062%	$369K	$450K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2093	−0.076%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USDshort	L +0.0003% / S −0.0003%	1h	0.2092	−0.104%	$101K	—	150x
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.389%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2094	−0.004%	$2.6M	$5.5M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2094	−0.014%	$61K	$531K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2091	−0.143%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2092	−0.112%	$658K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2092	−0.090%	$1.5M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2093	−0.065%	$405K	$576K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2093	−0.038%	$129.1M	$455.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2093	−0.062%	$87.0M	$190.6M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2094	−0.019%	$20.2M	$111.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2095	+0.019%	$15K	$396K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2094	−0.014%	$82K	$220K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2095	+0.018%	$88K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2093	−0.072%	$10.5M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2094	−0.014%	$46.5M	$47.0M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2094	long leg	$23.8M	$16.4M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2092	−0.086%	$47.3M	$64.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2093	−0.048%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2094	−0.015%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2096	+0.062%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2095	+0.053%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2095	+0.033%	$32K	$710K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2094	−0.005%	$177K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2042	−2.483%	$1K	$816K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2092	−0.110%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2094	+0.005%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2092	−0.110%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2092	−0.110%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2097	+0.148%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0136%	1h	0.2095	+0.043%	$4K	$432	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0240% / S −0.0412%	1h	0.2092	−0.115%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0328%	1h	0.2093	−0.055%	$1.6M	$4.1M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2093	−0.062%	$5.5M	$8.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2093	−0.051%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0496%	1h	0.2095	+0.024%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2098	+0.172%	$826K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0581%	1h	0.2097	+0.129%	$110.7M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1963%	1h	0.2093	−0.075%	$138K	$15K	5x	as long as short