Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0097%/8h= −10.6% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against KuCoin+0.003%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$354as in the Price arb table

costs, in and out, $10k−$3553.545% of the position

Long on KuCoin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.092%−$9 on $10k

Price spread, last 3 days (all we have)+0.069%+$7 · spread now +0.003%, 7d avg −0.003%

Together, before fees−0.023%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.003%, 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	0.2147	0.0100	pay 0.0050% / 4h	3h 22m	$24.7M	$16.5M	75x
Short	gTrade (Gains Network) ENA/USD	0.2147	L +0.0003% / S −0.0003%	get 0.0000% / 1h	22m 55s	$100K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.003%Rate

Funding earned: −$20.35
Price spread: +0.003% → −0.003%: $0.67
Slippage, 4 orders: −$332.5
Fee KuCoin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$374.19
Costs to cover: 3.545%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; gTrade (Gains Network): virtual book (oracle venue), 31 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	3.03 bp	11.5 bp −$12	24.5 bp −$245	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 31 min ago	130.03 bp	135.0 bp −$135	748.2 bp −$7,482	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2147	+0.019%	$80K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USDshort	L +0.0003% / S −0.0003%	1h	0.2147	+0.003%	$100K	—	150x
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.076%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0035%	4h	0.2145	−0.065%	$41K	$23K	10x	as long as short
dYdX ENA-USD	+0.0040%	1h	0.2145	−0.078%	$142K	$15K	5x	as long as short
Backpack ENA_USDC_PERP	+0.0090%	1h	0.2148	+0.061%	$382K	$416K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2145	−0.070%	$63K	$518K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2144	−0.116%	$711K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2146	−0.043%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2145	−0.062%	$421K	$549K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2146	−0.014%	$133.3M	$444.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2145	−0.056%	$88.4M	$187.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2145	−0.056%	$21.1M	$110.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2150	+0.186%	$15K	$412K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2148	+0.070%	$106K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2143	−0.163%	$90K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2146	−0.028%	$10.9M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2146	−0.023%	$45.8M	$44.6M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2147	long leg	$24.7M	$16.5M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2144	−0.102%	$48.6M	$61.6M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2146	−0.023%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2155	+0.396%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2154	+0.333%	$254K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2155	+0.396%	$363K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2146	−0.023%	$33K	$688K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2146	−0.009%	$185K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2095	−2.395%	$1K	$832K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2146	−0.023%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2149	+0.093%	$279K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2146	−0.023%	$2.0M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2146	−0.046%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2146	−0.023%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2154	+0.326%	$8K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0208%	1h	0.2145	−0.061%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0233%	1h	0.2148	+0.055%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0304%	1h	0.2146	−0.022%	$1.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0333% / S −0.0430%	1h	0.2147	+0.001%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2147	+0.028%	$5.6M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2145	−0.067%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2150	+0.158%	$851K	$1.8M	50x	as long as short
Lighter ENA	+0.0744%	1h	0.2149	+0.130%	$5.7M	$12.6M	10x	as long as short
Hyperliquid ENA	+0.0752%	1h	0.2150	+0.158%	$116.0M	$74.0M	10x	as long as short