Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against Polymarket Perps+0.014%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$480.481% of the position

Long on Polymarket Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.174%+$17 on $10k

Price spread, last 7 days−0.082%−$8 · spread now +0.014%, 7d avg −0.016%

Together, before fees+0.092%+$9 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 0.030% dearer against Polymarket Perps than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ENA-USD	0.2106	0.0100	pay 0.0013% / 1h	21m 21s	$183K	$3.0M	10x
Short	KuCoin ENAUSDTM	0.2106	0.0100	get 0.0050% / 4h	2h 21m	$24.4M	$16.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Polymarket 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 Polymarket PerpsbpFee KuCoinbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → −0.016%: $2.98
Slippage, 4 orders: −$28.11
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$45.14
Costs to cover: 0.481%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; KuCoin: 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 Polymarket Perps live order book, 3 min ago	2.85 bp	6.8 bp −$7	8.6 bp −$86	14296.0 bp −$1.43M	doesn't fit
Sell KuCoin live order book, 3 min ago	1.90 bp	20.1 bp −$20	38.0 bp −$380	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
Backpack ENA_USDC_PERP	−0.0263%	1h	0.2107	+0.057%	$363K	$484K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0082%	4h	0.2103	−0.142%	$41K	$23K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	−0.0035%	1h	0.2104	−0.114%	$93K	$1.9M	50x	as long as short
01 Exchange ENAUSD	−0.0016%	1h	0.2105	−0.043%	$4K	$432	10x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2103	−0.121%	$97K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.826%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0044%	4h	0.2102	−0.166%	$10.5M	$21.7M	50x	as long as short
Phoenix ENA	+0.0076%	1h	0.2110	+0.214%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2104	−0.095%	$60K	$540K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2106	−0.016%	$47K	$221	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2106	+0.005%	$660K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2107	+0.024%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2107	+0.060%	$407K	$595K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2103	−0.138%	$129.7M	$466.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2103	−0.152%	$87.9M	$193.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2103	−0.128%	$20.3M	$114.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2110	+0.190%	$19K	$432K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2107	+0.047%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	+0.047%	$89K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2104	−0.119%	$45.7M	$49.1M	200x	as long as short
KuCoin ENAUSDTMshort	+0.0100%	4h	0.2106	+0.014%	$24.4M	$16.5M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2102	−0.195%	$47.6M	$66.5M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2103	−0.138%	—	$32.1M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2111	+0.248%	$3.6M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2109	+0.163%	$251K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2112	+0.269%	$360K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2113	+0.332%	$33K	$711K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2106	long leg	$183K	$3.0M	10x
SunX ENA-USDT	+0.0100%	4h	0.2053	−2.536%	$895	$809K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2103	−0.142%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2112	+0.280%	$274K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2103	−0.142%	$1.9M	$9.3M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2104	−0.072%	$2.7M	$5.8M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2104	−0.100%	$77K	$11K	3x	as long as short
Extended ENA-USD	+0.0120%	1h	0.2103	−0.160%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0214% / S −0.0162%	1h	0.2103	−0.131%	$50K	—	100x	as long as short
Lighter ENA	+0.0328%	1h	0.2109	+0.161%	$5.7M	$13.2M	10x	as long as short
Hyperliquid ENA	+0.0340%	1h	0.2106	0.000%	$111.1M	$80.6M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2108	+0.104%	$5.5M	$8.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2103	−0.159%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2108	+0.095%	$805K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.6559%	1h	0.2108	+0.091%	$139K	$15K	5x	as long as short