Funding arb · Price arb /

ENJ

all ENJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h −0.584%

Price spread now: Bybit against Kraken Futures−0.123%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.123% cheaper against Kraken Futures than usual: you would sell low and buy high, −$12 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ENJUSD	0.02819	0.0101	pay 0.0013% / 1h	12m 09s	$24K	$13K	20x
Short	Bybit ENJUSDT	0.02815	0.0100	get 0.0100% / 8h	7h 12m	$940K	$546K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Kraken Futures. 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 Kraken FuturesbpFee BybitbpOrdersPrice spread, now −0.123%Rate

Funding earned: −$0.18
Price spread: −0.123% → 0.000%: −$12.35
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$33.53
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 18 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Bybit live order book, 18 min ago	3.59 bp	40.1 bp −$40	629.8 bp −$6,298	doesn't fit	doesn't fit

Kraken Futures: 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.

ENJ on 13 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
Aster ENJUSDT	+0.0100%	4h	0.02820	+0.029%	$18K	$8K	5x	as long as short
Binance ENJUSDT	+0.0100%	4h	0.02819	+0.004%	$3.0M	$3.5M	50x	as long as short
Bybit ENJUSDTshort	+0.0100%	8h	0.02815	−0.123%	$940K	$546K	25x
OKX ENJ-USDT-SWAP	+0.0100%	4h	0.02818	−0.031%	$289K	$380K	10x	as long as short
Gate ENJ_USDT	+0.0100%	4h	0.02817	−0.067%	$110K	$37K	25x	as long as short
MEXC ENJ_USDT	+0.0100%	4h	0.02818	−0.031%	$1.7M	$893K	75x	as long as short
KuCoin ENJUSDTM	+0.0100%	4h	0.02819	+0.004%	$394K	$63K	30x	as long as short
Bitget ENJUSDT	+0.0100%	4h	0.02820	+0.040%	$711K	$246K	50x	as long as short
BingX ENJ-USDT	+0.0100%	4h	0.02814	−0.173%	—	$2.4M	—	as long as short
Variational Omni ENJ	+0.0100%	8h	0.02816	−0.117%	$2K	$19K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ENJUSDlong	+0.0101%	1h	0.02819	long leg	$24K	$13K	20x
Extended ENJ-USD	+0.0104%	1h	0.02816	−0.087%	$4K	$289K	5x	as long as short
BloFin ENJ-USDT	+0.0124%	4h	0.02818	−0.031%	$130K	$99K	50x	as long as short