Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0132%/8h= −14.5% APRpaid last 24h −0.020%

Price spread now: 01 Exchange against KuCoin−0.193%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and 01 Exchange is 0.193% cheaper against KuCoin than usual: you would sell low and buy high (−$19 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENAUSDTM	0.2121	0.0100	pay 0.0050% / 4h	48m 54s	$24.9M	$15.7M	75x
Short	01 Exchange ENAUSD	0.2117	−0.0032	pay 0.0004% / 1h	48m 54s	$4K	$277	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.193%Rate

Funding earned: −$27.72
Price spread: −0.193% → 0.000%: −$19.33
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$66.05
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 10 min ago; 01 Exchange: no order-book sample. Net counts fees only.

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, 10 min ago	2.38 bp	15.3 bp −$15	40.8 bp −$408	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0099%	4h	0.2119	−0.094%	$44K	$26K	10x	as long as short
01 Exchange ENAUSDshort	−0.0032%	1h	0.2117	−0.193%	$4K	$277	10x
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2121	−0.033%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2119	−0.097%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.094%	$522	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2123	+0.080%	$5.0M	$13.6M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2118	−0.160%	$55K	$480K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2118	−0.158%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2117	−0.191%	$561K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2125	+0.189%	$115.2M	$75.0M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2125	+0.155%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2119	−0.113%	$407K	$560K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2125	+0.155%	$128.9M	$425.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2123	+0.090%	$91.1M	$186.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2124	+0.127%	$21.2M	$107.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2110	−0.556%	$33K	$313K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2117	−0.207%	$78K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	−0.402%	$92K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2123	+0.090%	$12.7M	$26.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2124	+0.146%	$38.5M	$42.4M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2121	long leg	$24.9M	$15.7M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2122	+0.052%	$48.1M	$59.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2124	+0.146%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2122	+0.019%	$383K	$459K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2109	−0.573%	$3.0M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2112	−0.444%	$257K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2113	−0.395%	$364K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2112	−0.443%	$19K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2119	−0.099%	$183K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2068	−2.512%	$905	$904K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2121	−0.019%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2122	+0.042%	$267K	$817K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2120	−0.066%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2122	+0.037%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2120	−0.042%	$74K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0148%	1h	0.2121	−0.027%	$2.6M	$4.4M	50x	as long as short
Phoenix ENA	+0.0190%	1h	0.2112	−0.424%	$8K	$273K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0754%	1h	0.2120	−0.068%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2119	−0.137%	$5.5M	$3.3M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2118	−0.155%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2117	−0.193%	$874K	$1.8M	50x	as long as short
dYdX ENA-USD	+0.1075%	1h	0.2119	−0.121%	$140K	$16K	5x	as long as short