Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0656%/8h= +71.8% APRpaid last 24h +0.046%

Price spread now: GMX against KuCoin−0.013%59s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$20 a day on $10k at the current rate. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENAUSDTM	0.2145	0.0100	pay 0.0050% / 4h	3h 02m	$25.2M	$15.9M	75x
Short	GMX ENA/USD [ETH-USDC]	0.2144	L +0.0307% / S −0.0756%	get 0.0094% / 1h	2m 30s	$59K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.013%Rate

Funding earned: $137.69
Price spread: −0.013% → 0.000%: −$1.26
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $112.43
Costs to cover: 0.240%
Break-even: 1.3 days

Slippage unknown: KuCoin: live order book, 6 min ago; GMX: no order-book sample. Net counts fees only.

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, 6 min ago	3.04 bp	17.6 bp −$18	33.9 bp −$339	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0106%	4h	0.2140	−0.228%	$44K	$15K	10x	as long as short
01 Exchange ENAUSD	−0.0104%	1h	0.2143	−0.065%	$4K	$169	10x	as long as short
Phemex ENAUSDT	−0.0041%	4h	0.2144	−0.033%	$1.9M	$9.0M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2147	+0.084%	$91K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2137	−0.373%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	−1.063%	$734	$57K	5.5x	as long as short
Bitget ENAUSDT	+0.0042%	4h	0.2142	−0.135%	$48.3M	$59.8M	75x	as long as short
Lighter ENA	+0.0096%	1h	0.2144	−0.014%	$5.0M	$13.2M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2143	−0.079%	$55K	$486K	50x	as long as short
dYdX ENA-USD	+0.0097%	1h	0.2144	−0.025%	$142K	$16K	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0100%	8h	0.2143	−0.102%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2142	−0.107%	$567K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2146	+0.042%	$117.4M	$76.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2144	−0.051%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2144	−0.047%	$409K	$549K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2141	−0.157%	$129.4M	$422.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2140	−0.196%	$87.7M	$191.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2140	−0.196%	$21.2M	$106.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2134	−0.522%	$39K	$329K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2145	+0.014%	$80K	$247K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2142	−0.121%	$13.5M	$28.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2143	−0.098%	$42.3M	$44.3M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2145	long leg	$25.2M	$15.9M	75x
BingX ENA-USDT	+0.0100%	4h	0.2141	−0.168%	—	$30.7M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2145	−0.009%	$415K	$476K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2135	−0.452%	$3.1M	$8.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2136	−0.383%	$252K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2135	−0.436%	$358K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2137	−0.359%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2145	+0.028%	$177K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2086	−2.723%	$1K	$920K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2144	−0.033%	$4K	$6K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2152	+0.317%	$266K	$812K	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2133	−0.522%	$104K	$12K	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2143	−0.061%	$1.6M	$4.8M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2140	−0.236%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2138	−0.317%	$13K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0194%	1h	0.2146	+0.051%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]short	L +0.0307% / S −0.0756%	1h	0.2144	−0.013%	$59K	—	100x
BloFin ENA-USDT	+0.0340%	4h	0.2143	−0.098%	$5.6M	$3.5M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2136	−0.397%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2150	+0.233%	$793K	$2.0M	50x	as long as short