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 0.000%

Price spread now: HTX against KuCoin−0.065%51s7-day average +0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$910.910% of the position

Long on KuCoin Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 3 days (all we have)+0.144%+$14 · spread now −0.065%, 7d avg +0.067%

Together, before fees+0.208%+$21 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: HTX is 0.132% cheaper against KuCoin than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.067%. The two prices were read 51 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	0.2142	0.0100	pay 0.0050% / 4h	3h 28m	$24.6M	$16.5M	75x
Short	HTX ENA-USDT	0.2141	0.0100	get 0.0050% / 4h	3h 28m	$278K	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.065%Rate

Funding earned: $0
Price spread: −0.065% → +0.067%: −$13.24
Slippage, 4 orders: −$67.02
Fee KuCoin: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$104.26
Costs to cover: 0.910%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; HTX: live order book, just now.

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	2.36 bp	15.4 bp −$15	32.0 bp −$320	doesn't fit	doesn't fit
Sell HTX live order book, just now	16.52 bp	29.5 bp −$29	doesn't fit	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2141	−0.070%	$80K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2141	−0.075%	$98K	—	150x	as long as short
dYdX ENA-USD	+0.0025%	1h	0.2144	+0.076%	$142K	$15K	5x	as long as short
Orderly PERP_ENA_USDC	+0.0032%	4h	0.2140	−0.112%	$41K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.878%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0041%	1h	0.2143	+0.051%	$381K	$416K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2142	−0.009%	$63K	$520K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2142	+0.002%	$711K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2143	+0.042%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2145	+0.121%	$421K	$549K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2142	−0.021%	$132.9M	$444.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2141	−0.056%	$88.5M	$187.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2141	−0.075%	$21.0M	$110.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2141	−0.075%	$15K	$409K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2147	+0.224%	$106K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2143	+0.037%	$90K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2141	−0.061%	$10.9M	$20.9M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2140	−0.107%	$46.1M	$44.4M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2142	long leg	$24.6M	$16.5M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2137	−0.229%	$48.5M	$61.6M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2141	−0.051%	—	$32.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2123	−0.881%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2123	−0.913%	$248K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	−0.866%	$357K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2116	−1.223%	$34K	$687K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2143	+0.047%	$180K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2089	−2.488%	$1K	$830K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2139	−0.149%	$4K	$10K	10x	as long as short
HTX ENA-USDTshort	+0.0100%	4h	0.2141	−0.065%	$278K	$1.2M	50x
Phemex ENAUSDT	+0.0100%	4h	0.2140	−0.103%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2146	+0.164%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2140	−0.103%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2116	−1.232%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0216%	1h	0.2143	+0.037%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0233%	1h	0.2140	−0.097%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0272%	1h	0.2139	−0.171%	$1.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0332% / S −0.0206%	1h	0.2140	−0.085%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2141	−0.051%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2140	−0.111%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2143	+0.056%	$848K	$1.8M	50x	as long as short
Lighter ENA	+0.0680%	1h	0.2147	+0.238%	$5.7M	$12.6M	10x	as long as short
Hyperliquid ENA	+0.0740%	1h	0.2145	+0.140%	$115.7M	$75.4M	10x	as long as short