Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: edgeX against KuCoin+0.014%113s7-day average −0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$550.552% of the position

Long on KuCoin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 7 days−0.024%−$2 · spread now +0.014%, 7d avg −0.018%

Together, before fees+0.040%+ Points / potential airdropedgeX: Active · farm board+$4 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: edgeX is 0.032% dearer against KuCoin than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.018%. The two prices were read 113 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENAUSDTM	0.2097	0.0100	pay 0.0050% / 4h	37m 34s	$24.5M	$15.6M	75x
Short	edgeX ENAUSDC	0.2097	0.0100	get 0.0050% / 4h	37m 34s	$242K	$6.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → −0.018%: $3.18
Slippage, 4 orders: −$34.23
Fee KuCoin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$52.06
Costs to cover: 0.552%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; edgeX: live order book, 1 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, 6 min ago	2.14 bp	15.7 bp −$16	37.7 bp −$377	doesn't fit	doesn't fit
Sell edgeX live order book, 1 min ago	7.17 bp	11.7 bp −$12	13.2 bp −$132	44.6 bp −$4,456	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
Backpack ENA_USDC_PERP	−0.0287%	1h	0.2096	−0.014%	$361K	$391K	5x	as long as short
01 Exchange ENAUSD	−0.0104%	1h	0.2092	−0.200%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0065%	4h	0.2097	+0.019%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2098	+0.081%	$78K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2098	+0.047%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.273%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2104	+0.348%	$8K	$266K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2096	−0.024%	$5.2M	$13.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2092	−0.224%	$55K	$503K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2095	−0.079%	$47K	$110	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2097	+0.014%	$660K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2097	+0.019%	$111.5M	$73.2M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2096	−0.044%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2096	−0.047%	$408K	$499K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2096	−0.034%	$127.8M	$415.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2094	−0.143%	$84.9M	$175.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2094	−0.124%	$20.8M	$102.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2102	+0.258%	$20K	$313K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2095	−0.081%	$78K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	+0.052%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2094	−0.105%	$11.0M	$21.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2095	−0.081%	$45.6M	$41.2M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2097	long leg	$24.5M	$15.6M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2092	−0.215%	$47.7M	$57.5M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2094	−0.143%	—	$32.2M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	+0.003%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDCshort	+0.0100%	4h	0.2097	+0.014%	$242K	$6.9M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2098	+0.062%	$353K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2098	+0.062%	$20K	$646K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2097	+0.033%	$178K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2047	−2.389%	$1K	$845K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2097	+0.014%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2100	+0.153%	$271K	$794K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2096	−0.033%	$1.7M	$8.8M	50x	as long as short
dYdX ENA-USD	+0.0103%	1h	0.2096	−0.039%	$138K	$15K	5x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2092	−0.211%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2098	+0.076%	$73K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0245%	1h	0.2098	+0.053%	$2.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2098	+0.048%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2093	−0.167%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2097	+0.017%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2106	+0.448%	$858K	$1.5M	50x	as long as short