Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h +0.058%

Price spread now: KuCoin against 01 Exchange−0.024%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and KuCoin is 0.024% cheaper against 01 Exchange than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ENAUSD	0.2127	0.0160	pay 0.0020% / 1h	50m 16s	$4K	$312	10x
Short	KuCoin ENAUSDTM	0.2127	0.0100	get 0.0050% / 4h	50m 16s	$24.5M	$16.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against 01 Exchange. 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 01 ExchangebpFee KuCoinbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$12.6
Price spread: −0.024% → 0.000%: −$2.35
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$33.95
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; KuCoin: live order book, 9 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 01 Exchange no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 9 min ago	2.36 bp	12.2 bp −$12	33.5 bp −$335	doesn't fit	doesn't fit

01 Exchange: 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
Orderly PERP_ENA_USDC	−0.0029%	4h	0.2125	−0.118%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2126	−0.061%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2126	−0.084%	$106K	—	150x	as long as short
Backpack ENA_USDC_PERP	+0.0031%	1h	0.2126	−0.071%	$375K	$447K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.183%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2125	−0.108%	$63K	$525K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2125	−0.085%	$683K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2126	−0.069%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2125	−0.127%	$411K	$573K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2125	−0.113%	$131.4M	$455.5M	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	−0.099%	$89.3M	$190.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2126	−0.061%	$20.6M	$112.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2128	+0.047%	$15K	$403K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2126	−0.061%	$84K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2125	−0.086%	$90K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2125	−0.108%	$10.9M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2125	−0.099%	$47.0M	$45.3M	200x	as long as short
KuCoin ENAUSDTMshort	+0.0100%	4h	0.2127	−0.024%	$24.5M	$16.4M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2124	−0.150%	$48.2M	$64.7M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2125	−0.113%	—	$32.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2124	−0.161%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2116	−0.532%	$251K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2116	−0.531%	$351K	$4.6M	10x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2126	−0.071%	$179K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2074	−2.487%	$1K	$822K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2125	−0.108%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.080%	$276K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2124	−0.155%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2125	−0.105%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2126	−0.065%	$78K	$11K	3x	as long as short
ApeX Omni ENAUSDT	+0.0131%	1h	0.2128	+0.033%	$32K	$712K	50x	as long as short
01 Exchange ENAUSDlong	+0.0160%	1h	0.2127	long leg	$4K	$312	10x
Phoenix ENA	+0.0189%	1h	0.2115	−0.559%	$6K	$347K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2126	−0.061%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2125	−0.104%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2124	−0.146%	$5.6M	$8.1M	75x	as long as short
Extended ENA-USD	+0.0344%	1h	0.2125	−0.121%	$1.6M	$4.2M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2125	−0.121%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2135	+0.338%	$843K	$2.1M	50x	as long as short
Lighter ENA	+0.0592%	1h	0.2127	−0.009%	$5.7M	$12.8M	10x	as long as short
Hyperliquid ENA	+0.0750%	1h	0.2129	+0.094%	$114.4M	$78.8M	10x	as long as short
dYdX ENA-USD	+0.1677%	1h	0.2125	−0.094%	$140K	$15K	5x	as long as short