Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: KuCoin against Bybit+0.057%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$530.533% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 7 days−0.077%−$8 · spread now +0.057%, 7d avg +0.034%

Together, before fees−0.065%−$7 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 0.023% dearer against Bybit than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENAUSDT	0.2109	0.0100	pay 0.0050% / 4h	3h 17m	$85.3M	$174.4M	50x
Short	KuCoin ENAUSDTM	0.2110	0.0100	get 0.0050% / 4h	3h 17m	$24.9M	$15.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bybit. 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 BybitbpFee KuCoinbpOrdersPrice spread, now +0.057%Rate

Funding earned: $0
Price spread: +0.057% → +0.034%: $2.29
Slippage, 4 orders: −$30.28
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$50.98
Costs to cover: 0.533%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; KuCoin: live order book, 6 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 Bybit live order book, 1 min ago	0.24 bp	10.0 bp −$10	17.5 bp −$175	62.9 bp −$6,287	doesn't fit
Sell KuCoin live order book, 6 min ago	4.04 bp	19.1 bp −$19	34.1 bp −$341	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
Orderly PERP_ENA_USDC	−0.0120%	4h	0.2105	−0.175%	$44K	$26K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0094%	1h	0.2109	−0.028%	$359K	$401K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2107	−0.123%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2106	−0.171%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0024%	1h	0.2103	−0.289%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.673%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2102	−0.341%	$56K	$465K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2102	−0.326%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2103	−0.313%	$653K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2109	+0.011%	$1.5M	$3.2M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2104	−0.265%	$401K	$513K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2109	+0.012%	$127.8M	$413.2M	75x	as long as short
Bybit ENAUSDTlong	+0.0100%	4h	0.2109	long leg	$85.3M	$174.4M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2109	+0.005%	$21.0M	$103.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2104	−0.266%	$22K	$332K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2103	−0.294%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2100	−0.439%	$92K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2109	+0.005%	$11.3M	$22.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2110	+0.052%	$45.7M	$41.0M	200x	as long as short
KuCoin ENAUSDTMshort	+0.0100%	4h	0.2110	+0.057%	$24.9M	$15.6M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2109	0.000%	$47.9M	$57.5M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2110	+0.028%	—	$31.8M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2105	−0.200%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2103	−0.293%	$242K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2106	−0.167%	$349K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2106	−0.152%	$20K	$653K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2105	−0.185%	$189K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2052	−2.707%	$988	$854K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2106	−0.152%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2108	−0.057%	$273K	$789K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2107	−0.104%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2108	−0.049%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2106	−0.167%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2104	−0.232%	$8K	$274K	10x	as long as short
Hyperliquid ENA	+0.0152%	1h	0.2112	+0.147%	$114.8M	$74.1M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0173%	1h	0.2107	−0.113%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0200%	1h	0.2111	+0.104%	$5.2M	$13.3M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2106	−0.150%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2104	−0.261%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2105	−0.216%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2109	−0.014%	$863K	$1.7M	50x	as long as short
dYdX ENA-USD	+0.1140%	1h	0.2109	+0.003%	$139K	$15K	5x	as long as short