Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0108%/8h= +11.8% APRpaid last 24h +0.006%

Price spread now: Extended against KuCoin−0.052%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$380.382% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.113%+$11 on $10k

Price spread, last 7 days+0.066%+$7 · spread now −0.052%, 7d avg −0.033%

Together, before fees+0.180%+ Points / potential airdropExtended: Active · farm board+$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.033%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENAUSDTM	0.2132	0.0100	pay 0.0050% / 4h	14m 33s	$24.7M	$16.4M	75x
Short	Extended ENA-USD	0.2131	0.0208	get 0.0026% / 1h	14m 33s	$1.6M	$4.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.052%Rate

Funding earned: $22.68
Price spread: −0.052% → −0.033%: −$1.92
Slippage, 4 orders: −$21.22
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$17.46
Costs to cover: 0.382%
Break-even: 12.4 days

Slippage from KuCoin: live order book, 4 min ago; Extended: live order book, 4 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, 4 min ago	1.65 bp	17.9 bp −$18	36.5 bp −$365	doesn't fit	doesn't fit
Sell Extended live order book, 4 min ago	0.23 bp	4.3 bp −$4	14.3 bp −$143	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	−0.0002%	4h	0.2130	−0.089%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2132	−0.042%	$92K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2130	−0.130%	$97K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.422%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0056%	1h	0.2134	+0.056%	$378K	$446K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2131	−0.066%	$64K	$526K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2131	−0.068%	$683K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2132	−0.009%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2132	−0.038%	$412K	$561K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2131	−0.070%	$131.7M	$450.9M	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	0.2131	−0.075%	$89.7M	$189.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2130	−0.113%	$20.7M	$111.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2129	−0.159%	$15K	$396K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2132	−0.019%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2121	−0.535%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2131	−0.070%	$10.9M	$21.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2131	−0.052%	$46.7M	$45.6M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2132	long leg	$24.7M	$16.4M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2129	−0.150%	$48.3M	$63.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2131	−0.056%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2128	−0.186%	$3.9M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2123	−0.420%	$252K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2123	−0.425%	$363K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2125	−0.347%	$34K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2130	−0.089%	$180K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2078	−2.570%	$895	$826K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2131	−0.066%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2130	−0.094%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2131	−0.066%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2131	−0.055%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2131	−0.073%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2125	−0.361%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0200%	1h	0.2134	+0.066%	$4K	$302	10x	as long as short
Extended ENA-USDshort	+0.0208%	1h	0.2131	−0.052%	$1.6M	$4.2M	50x
Kraken Futures PF_ENAUSD	+0.0239%	1h	0.2133	+0.032%	$2.7M	$5.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2129	−0.143%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2128	−0.202%	$5.6M	$6.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2129	−0.143%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0552%	1h	0.2134	+0.080%	$5.7M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2134	+0.061%	$842K	$2.0M	50x	as long as short
Hyperliquid ENA	+0.0762%	1h	0.2135	+0.127%	$115.0M	$78.4M	10x	as long as short
dYdX ENA-USD	+0.1365%	1h	0.2132	−0.034%	$141K	$15K	5x	as long as short