Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against Ondo Perps+0.555%7-day average −0.011% · you sell dearer than you buy

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

Long on Ondo Perps Short on KuCoin

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)−0.492%−$49 · spread now +0.555%, 7d avg −0.011%

Together, before fees−0.534%+ Points / potential airdropOndo Perps: Active · farm board−$53 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: KuCoin is 0.566% dearer against Ondo Perps than usual: you sell high and buy low, +$57 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ENA-USD.P	0.2073	0.0100	pay 0.0013% / 1h	48m 15s	$37K	$308K	5x
Short	KuCoin ENAUSDTM	0.2085	0.0100	get 0.0050% / 4h	48m 15s	$24.8M	$14.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Ondo Perps. 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 Ondo PerpsbpFee KuCoinbpOrdersPrice spread, now +0.555%Rate

Funding earned: $0
Price spread: +0.555% → −0.011%: $56.58
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $39.58
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Ondo Perps: no order-book sample; KuCoin: live order book, 4 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 4 min ago	2.17 bp	21.0 bp −$21	37.0 bp −$370	doesn't fit	doesn't fit

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 exchanges

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	−0.0161%	4h	0.2084	+0.545%	$43K	$16K	10x	as long as short
Kraken Futures PF_ENAUSD	−0.0100%	1h	0.2086	+0.629%	$2.6M	$3.0M	50x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2086	+0.593%	$4K	$60	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2086	+0.617%	$55K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2084	+0.536%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	+2.349%	$734	$57K	5.5x	as long as short
Phoenix ENA	+0.0038%	1h	0.2079	+0.280%	$13K	$290K	10x	as long as short
Bitget ENAUSDT	+0.0042%	4h	0.2084	+0.540%	$47.2M	$53.8M	75x	as long as short
Lighter ENA	+0.0096%	1h	0.2090	+0.806%	$5.0M	$12.0M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2085	+0.569%	$53K	$388K	50x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0100%	8h	0.2088	+0.699%	$47K	—	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2084	+0.504%	$538K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2084	+0.531%	$111.3M	$74.1M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2083	+0.478%	$1.2M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2088	+0.719%	$377K	$491K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2083	+0.490%	$124.4M	$398.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2085	+0.588%	$83.6M	$181.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2086	+0.608%	$20.5M	$96.2M	50x	as long as short
Ondo Perps ENA-USD.Plong	+0.0100%	1h	0.2073	long leg	$37K	$308K	5x
Arcus ENA-USD	+0.0100%	1h	0.2085	+0.569%	$77K	$215K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2083	+0.449%	$102K	$11K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2084	+0.506%	$14.1M	$26.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2083	+0.482%	$42.8M	$39.7M	200x	as long as short
KuCoin ENAUSDTMshort	+0.0100%	4h	0.2085	+0.555%	$24.8M	$14.3M	75x
BingX ENA-USDC	+0.0100%	4h	0.2084	+0.502%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2078	+0.241%	$401K	$459K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2074	+0.039%	$2.8M	$7.6M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2072	−0.053%	$238K	$6.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2072	−0.043%	$347K	$4.1M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2073	−0.010%	$18K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2084	+0.506%	$122K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2035	−1.838%	$1K	$931K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2085	+0.569%	$6K	$5K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2082	+0.410%	$268K	$742K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2077	+0.183%	$1.8M	$9.2M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2084	+0.528%	$1.6M	$4.5M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2085	+0.556%	$73K	$4K	3x	as long as short
dYdX ENA-USD	+0.0105%	1h	0.2087	+0.659%	$138K	$17K	5x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2081	+0.362%	$5.5M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2083	+0.466%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0520%	1h	0.2079	+0.285%	$760K	$1.7M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0521% / S −0.0754%	1h	0.2084	+0.522%	$57K	—	100x	as long as short