Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against Polymarket Perps+0.014%7-day average −0.011% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$450.454% of the position

Long on Polymarket Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.181%+$18 on $10k

Price spread, last 7 days−0.087%−$9 · spread now +0.014%, 7d avg −0.011%

Together, before fees+0.095%+$9 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: KuCoin is 0.025% dearer against Polymarket Perps than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ENA-USD	0.2108	0.0100	pay 0.0013% / 1h	16m 18s	$190K	$2.4M	10x
Short	KuCoin ENAUSDTM	0.2108	0.0100	get 0.0050% / 4h	3h 16m	$24.9M	$15.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Polymarket Perps. 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 Polymarket PerpsbpFee KuCoinbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → −0.011%: $2.48
Slippage, 4 orders: −$25.45
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$42.97
Costs to cover: 0.454%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; KuCoin: live order book, 3 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 Polymarket Perps live order book, 3 min ago	2.14 bp	7.6 bp −$8	8.3 bp −$83	11767.8 bp −$1.18M	doesn't fit
Sell KuCoin live order book, 3 min ago	3.09 bp	12.9 bp −$13	28.8 bp −$288	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	−0.0120%	4h	0.2105	−0.104%	$44K	$26K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0081%	1h	0.2107	−0.033%	$359K	$401K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2107	−0.052%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2107	−0.033%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0016%	1h	0.2107	−0.047%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.750%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2106	−0.076%	$56K	$465K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2107	−0.021%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2106	−0.064%	$654K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2108	+0.001%	$1.5M	$3.2M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2107	−0.038%	$401K	$513K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2107	−0.052%	$127.7M	$413.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2106	−0.066%	$85.1M	$174.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2107	−0.033%	$21.0M	$103.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2104	−0.190%	$22K	$327K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2107	−0.028%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2100	−0.363%	$92K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2106	−0.057%	$11.2M	$22.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2108	+0.005%	$45.7M	$41.0M	200x	as long as short
KuCoin ENAUSDTMshort	+0.0100%	4h	0.2108	+0.014%	$24.9M	$15.5M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2105	−0.138%	$47.8M	$57.5M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2107	−0.047%	—	$31.8M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2105	−0.124%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2103	−0.217%	$242K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2106	−0.091%	$349K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2105	−0.123%	$20K	$652K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2108	long leg	$190K	$2.4M	10x
SunX ENA-USDT	+0.0100%	4h	0.2056	−2.467%	$1K	$854K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2108	+0.019%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2111	+0.171%	$273K	$789K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2108	+0.019%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2106	−0.097%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2107	−0.046%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2103	−0.209%	$8K	$274K	10x	as long as short
Hyperliquid ENA	+0.0144%	1h	0.2108	+0.038%	$114.6M	$74.1M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0173%	1h	0.2108	+0.006%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0200%	1h	0.2108	+0.038%	$5.2M	$13.3M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2107	−0.037%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2107	−0.009%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2106	−0.076%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2109	+0.062%	$863K	$1.7M	50x	as long as short
dYdX ENA-USD	+0.1114%	1h	0.2107	−0.046%	$139K	$15K	5x	as long as short