Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Ondo Perps against KuCoin−0.078%7-day average +0.013% · you buy dearer than you sell

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

Long on KuCoin Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.042%+$4 on $10k

Price spread, last 4 days (all we have)−0.147%−$15 · spread now −0.078%, 7d avg +0.013%

Together, before fees−0.105%+ Points / potential airdropOndo Perps: Active · farm board−$11 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: Ondo Perps is 0.091% cheaper against KuCoin than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENAUSDTM	0.2178	0.0100	pay 0.0050% / 4h	3h 47m	$25.6M	$15.9M	75x
Short	Ondo Perps ENA-USD.P	0.2177	0.0100	get 0.0013% / 1h	47m 36s	$33K	$326K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.078%Rate

Funding earned: $0
Price spread: −0.078% → +0.013%: −$9.13
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$26.13
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 11 min ago; Ondo Perps: 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, 11 min ago	3.05 bp	12.7 bp −$13	35.9 bp −$359	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Phemex ENAUSDT	−0.2016%	4h	0.2166	−0.569%	$1.9M	$9.0M	50x	as long as short
Orderly PERP_ENA_USDC	−0.0086%	4h	0.2168	−0.496%	$45K	$17K	10x	as long as short
01 Exchange ENAUSD	−0.0064%	1h	0.2177	−0.064%	$4K	$277	10x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2168	−0.463%	$83K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−2.525%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2169	−0.432%	$53K	$488K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2175	−0.168%	$49K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2167	−0.533%	$591K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2178	−0.018%	$118.6M	$75.6M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2178	−0.036%	$1.4M	$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	0.2178	−0.025%	$420K	$563K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2177	−0.049%	$132.2M	$429.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2175	−0.151%	$90.8M	$193.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2174	−0.197%	$21.6M	$111.6M	50x	as long as short
Ondo Perps ENA-USD.Pshort	+0.0100%	1h	0.2177	−0.078%	$33K	$326K	5x
Arcus ENA-USD	+0.0100%	1h	0.2177	−0.064%	$81K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2157	−0.962%	$94K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2176	−0.110%	$13.6M	$26.9M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2176	−0.106%	$40.8M	$42.7M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2178	long leg	$25.6M	$15.9M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2174	−0.207%	$49.2M	$61.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2175	−0.142%	—	$31.4M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2135	−1.974%	$3.1M	$9.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2131	−2.161%	$258K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2132	−2.130%	$363K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2132	−2.130%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2169	−0.422%	$178K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2118	−2.786%	$1K	$916K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2166	−0.569%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2176	−0.119%	$272K	$825K	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2175	−0.166%	$1.7M	$4.5M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2168	−0.494%	$76K	$4K	3x	as long as short
Deribit ENA_USDC-PERPETUAL	+0.0119%	1h	0.2169	−0.427%	$77K	$1.1M	50x	as long as short
dYdX ENA-USD	+0.0131%	1h	0.2177	−0.075%	$144K	$16K	5x	as long as short
Phoenix ENA	+0.0150%	1h	0.2138	−1.868%	$13K	$267K	10x	as long as short
Lighter ENA	+0.0184%	1h	0.2180	+0.083%	$5.1M	$12.7M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0193%	1h	0.2167	−0.528%	$2.7M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0310% / S −0.0754%	1h	0.2169	−0.444%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2147	−1.423%	$5.6M	$3.5M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2166	−0.553%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2165	−0.606%	$805K	$2.0M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0606%	1h	0.2177	−0.064%	$423K	$481K	5x	as long as short