Funding arb · Price arb /

ENA

all ENA markets

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 −0.006%

Price spread now: Gate against KuCoin−0.038%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$590.587% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 7 days+0.071%+$7 · spread now −0.038%, 7d avg −0.014%

Together, before fees+0.099%+$10 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: Gate is 0.024% cheaper against KuCoin than usual: you would sell low and buy high, −$2 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	0.2089	0.0100	pay 0.0050% / 4h	49m 29s	$24.4M	$15.6M	75x
Short	Gate ENA_USDT	0.2089	0.0100	get 0.0050% / 4h	49m 29s	$11.0M	$21.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.038%Rate

Funding earned: $0
Price spread: −0.038% → −0.014%: −$2.43
Slippage, 4 orders: −$31.7
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$61.13
Costs to cover: 0.587%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Gate: live order book, 4 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, 4 min ago	3.80 bp	19.0 bp −$19	43.4 bp −$434	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	3.33 bp	11.9 bp −$12	23.5 bp −$235	50.7 bp −$5,066	90.2 bp −$45.1K

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
Backpack ENA_USDC_PERP	−0.0270%	1h	0.2092	+0.105%	$365K	$390K	5x	as long as short
01 Exchange ENAUSD	−0.0096%	1h	0.2087	−0.134%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0056%	4h	0.2092	+0.134%	$43K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2093	+0.177%	$78K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2092	+0.146%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.632%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2094	+0.225%	$8K	$266K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2090	+0.034%	$5.2M	$13.3M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2091	+0.081%	$55K	$501K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2088	−0.085%	$47K	$110	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2087	−0.111%	$654K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2092	+0.129%	$111.7M	$72.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2090	+0.046%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2089	−0.036%	$407K	$500K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2088	−0.062%	$127.6M	$415.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2087	−0.110%	$84.8M	$175.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2087	−0.096%	$20.6M	$101.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2087	−0.110%	$19K	$321K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2088	−0.062%	$77K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	+0.847%	$92K	$4K	10x	as long as short
Gate ENA_USDTshort	+0.0100%	4h	0.2089	−0.038%	$11.0M	$21.6M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2088	−0.072%	$45.0M	$41.0M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2089	long leg	$24.4M	$15.6M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2086	−0.172%	$47.6M	$57.4M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2088	−0.072%	—	$32.2M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	+0.358%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2105	+0.737%	$242K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2104	+0.724%	$353K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2099	+0.464%	$20K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2088	−0.077%	$177K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2041	−2.312%	$1K	$841K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2092	+0.129%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2094	+0.235%	$271K	$797K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2093	+0.177%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2087	−0.104%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2092	+0.144%	$73K	$4K	3x	as long as short
dYdX ENA-USD	+0.0162%	1h	0.2088	−0.055%	$138K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0245%	1h	0.2094	+0.206%	$2.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2092	+0.147%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2098	+0.402%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2087	−0.112%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2096	+0.325%	$854K	$1.5M	50x	as long as short