Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0140%/8h= +15.4% APRpaid last 24h −0.111%

Price spread now: Kraken Futures against Aster+0.040%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$690.695% of the position

Long on Aster Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 3 days (all we have)+0.353%+$35 · spread now +0.040%, 7d avg +0.016%

Together, before fees+0.360%+ Points / potential airdropAster: Stage 5 · farm board+$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Kraken Futures is 0.023% dearer against Aster than usual: you sell high and buy low: +$2 more if the spread 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	Aster ENAUSDT	0.2125	0.0100	pay 0.0050% / 4h	18m 47s	$1.5M	$3.3M	50x
Short	Kraken Futures PF_ENAUSD	0.2126	0.0240	get 0.0030% / 1h	18m 47s	$2.7M	$5.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Aster. 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 AsterbpFee Kraken FuturesbpOrdersPrice spread, now +0.040%Rate

Funding earned: $29.46
Price spread: +0.040% → +0.016%: $2.34
Slippage, 4 orders: −$51.46
Fee Aster: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$37.66
Costs to cover: 0.695%
Break-even: 15.9 days

Slippage from Aster: live order book, 5 min ago; Kraken Futures: live order book, 5 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 Aster live order book, 5 min ago	1.89 bp	11.8 bp −$12	20.1 bp −$201	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	14.63 bp	22.5 bp −$23	31.2 bp −$312	228.5 bp −$22.8K	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
Orderly PERP_ENA_USDC	−0.0005%	4h	0.2125	+0.025%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2126	+0.058%	$93K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2125	+0.002%	$97K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.064%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0044%	1h	0.2126	+0.072%	$377K	$446K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2124	−0.036%	$61K	$523K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2124	−0.022%	$681K	$1.8M	10x	as long as short
Aster ENAUSDTlong	+0.0100%	4h	0.2125	long leg	$1.5M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2123	−0.105%	$410K	$561K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2124	−0.013%	$131.2M	$451.0M	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	−0.008%	$89.3M	$189.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2125	+0.002%	$20.6M	$111.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2119	−0.280%	$15K	$399K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2124	−0.036%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2121	−0.177%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2125	+0.002%	$10.9M	$21.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2125	+0.002%	$46.5M	$45.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2126	+0.044%	$24.6M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2123	−0.073%	$48.1M	$63.7M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2125	−0.003%	—	$32.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2120	−0.212%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2116	−0.427%	$252K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	−0.354%	$354K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2117	−0.365%	$34K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2125	+0.030%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2074	−2.394%	$1K	$826K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2125	+0.011%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2127	+0.101%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2125	+0.011%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2122	−0.139%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2126	+0.044%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2118	−0.313%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0192%	1h	0.2125	+0.030%	$4K	$302	10x	as long as short
Extended ENA-USD	+0.0208%	1h	0.2124	−0.027%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSDshort	+0.0240%	1h	0.2126	+0.040%	$2.7M	$5.4M	50x
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2125	+0.009%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2125	+0.007%	$5.6M	$6.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2124	−0.022%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0528%	1h	0.2127	+0.120%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2120	−0.238%	$837K	$2.0M	50x	as long as short
Hyperliquid ENA	+0.0758%	1h	0.2128	+0.157%	$114.6M	$78.3M	10x	as long as short
dYdX ENA-USD	+0.1536%	1h	0.2121	−0.176%	$140K	$15K	5x	as long as short