Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against KuCoin−0.080%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$480.478% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 7 days+0.071%+$7 · spread now −0.080%, 7d avg −0.021%

Together, before fees+0.147%+$15 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: BingX is 0.059% cheaper against KuCoin than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENAUSDTM	0.2125	0.0100	pay 0.0050% / 4h	42m 09s	$24.5M	$16.3M	75x
Short	BingX ENA-USDT	0.2123	0.0100	get 0.0050% / 4h	42m 09s	—	$32.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against KuCoin. 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 KuCoinbpFee BingXbpOrdersPrice spread, now −0.080%Rate

Funding earned: $0
Price spread: −0.080% → −0.021%: −$5.92
Slippage, 4 orders: −$25.79
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$53.71
Costs to cover: 0.478%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; BingX: live order book, 12 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 KuCoin live order book, 2 min ago	1.88 bp	22.5 bp −$23	41.3 bp −$413	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	0.94 bp	6.0 bp −$6	7.4 bp −$74	11.9 bp −$1,187	29.4 bp −$14.7K

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	−0.0025%	4h	0.2124	−0.061%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2125	0.000%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2124	−0.060%	$106K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.071%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0090%	1h	0.2124	−0.038%	$375K	$448K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2123	−0.089%	$63K	$523K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2124	−0.047%	$683K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2125	−0.006%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2125	+0.022%	$411K	$567K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2122	−0.114%	$131.2M	$454.7M	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	0.2122	−0.118%	$89.1M	$190.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2123	−0.104%	$20.5M	$111.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2126	+0.033%	$15K	$400K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2125	+0.005%	$84K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2125	+0.027%	$90K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2124	−0.052%	$10.9M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2124	−0.028%	$46.9M	$45.4M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2125	long leg	$24.5M	$16.3M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2122	−0.151%	$48.1M	$64.7M	75x	as long as short
BingX ENA-USDTshort	+0.0100%	4h	0.2123	−0.080%	—	$32.6M	—
Variational Omni ENA	+0.0100%	4h	0.2126	+0.032%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2125	+0.021%	$253K	$7.7M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2125	+0.011%	$354K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2126	+0.052%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2123	−0.094%	$179K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2071	−2.518%	$1K	$825K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2124	−0.042%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2136	+0.508%	$278K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2124	−0.042%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2124	−0.044%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2125	−0.007%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2129	+0.198%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0200%	1h	0.2124	−0.047%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2125	0.000%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2123	−0.084%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2125	−0.014%	$5.6M	$7.0M	75x	as long as short
Extended ENA-USD	+0.0344%	1h	0.2123	−0.067%	$1.6M	$4.2M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2122	−0.128%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2135	+0.452%	$843K	$2.1M	50x	as long as short
Lighter ENA	+0.0608%	1h	0.2127	+0.094%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0848%	1h	0.2127	+0.089%	$114.3M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1749%	1h	0.2127	+0.080%	$140K	$15K	5x	as long as short