Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.020%

Price spread now: GRVT against KuCoin−0.475%7-day average +0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$106as in the Price arb table

costs, in and out, $10k−$560.562% of the position

Long on KuCoin Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 7 days+0.429%+$43 · spread now −0.475%, 7d avg +0.019%

Together, before fees+0.478%+ Points / potential airdropGRVT: Active · farm board+$48 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: GRVT is 0.494% cheaper against KuCoin than usual: you would sell low and buy high, −$49 on $10k if it goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENAUSDTM	0.2126	0.0100	pay 0.0050% / 4h	50m 53s	$24.5M	$16.4M	75x
Short	GRVT ENA_USDT_Perp	0.2116	0.0100	get 0.0050% / 4h	50m 53s	$351K	$4.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.475%Rate

Funding earned: $0
Price spread: −0.475% → +0.019%: −$49.45
Slippage, 4 orders: −$35.18
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$105.63
Costs to cover: 0.562%
Break-even: never at this rate

Slippage from KuCoin: live order book, 8 min ago; GRVT: 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, 8 min ago	2.36 bp	16.1 bp −$16	32.0 bp −$320	doesn't fit	doesn't fit
Sell GRVT live order book, 3 min ago	4.71 bp	12.2 bp −$12	35.7 bp −$357	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	−0.0031%	4h	0.2124	−0.085%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2125	−0.061%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2125	−0.070%	$106K	—	150x	as long as short
Backpack ENA_USDC_PERP	+0.0031%	1h	0.2126	−0.014%	$375K	$447K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.127%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2124	−0.099%	$63K	$529K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2124	−0.103%	$682K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2125	−0.052%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2125	−0.032%	$411K	$573K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2125	−0.041%	$131.4M	$455.6M	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	0.2125	−0.042%	$89.2M	$191.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2126	−0.005%	$20.6M	$112.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2128	+0.103%	$15K	$403K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2125	−0.052%	$84K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2122	−0.212%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2125	−0.042%	$10.9M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2125	−0.056%	$47.0M	$45.3M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2126	long leg	$24.5M	$16.4M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2124	−0.085%	$48.1M	$64.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2125	−0.047%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2119	−0.354%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2116	−0.475%	$251K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perpshort	+0.0100%	4h	0.2116	−0.475%	$351K	$4.6M	10x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2125	−0.056%	$179K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2073	−2.498%	$1K	$823K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2125	−0.052%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.136%	$276K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2124	−0.099%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2124	−0.101%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2125	−0.064%	$78K	$11K	3x	as long as short
ApeX Omni ENAUSDT	+0.0131%	1h	0.2128	+0.089%	$32K	$712K	50x	as long as short
01 Exchange ENAUSD	+0.0152%	1h	0.2126	−0.014%	$4K	$312	10x	as long as short
Phoenix ENA	+0.0189%	1h	0.2115	−0.503%	$6K	$347K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2126	−0.025%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2124	−0.078%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2124	−0.089%	$5.6M	$8.1M	75x	as long as short
Extended ENA-USD	+0.0344%	1h	0.2124	−0.076%	$1.6M	$4.2M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2124	−0.107%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2135	+0.395%	$843K	$2.1M	50x	as long as short
Lighter ENA	+0.0568%	1h	0.2128	+0.075%	$5.7M	$12.8M	10x	as long as short
Hyperliquid ENA	+0.0719%	1h	0.2129	+0.122%	$114.3M	$78.8M	10x	as long as short
dYdX ENA-USD	+0.1658%	1h	0.2125	−0.038%	$140K	$15K	5x	as long as short