Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0142%/8h= +15.6% APRpaid last 24h −0.113%

Price spread now: Kraken Futures against Aster+0.031%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$620.625% of the position

Long on Aster Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.037%+$4 on $10k

Price spread, last 4 days (all we have)+0.530%+$53 · spread now +0.031%, 7d avg +0.015%

Together, before fees+0.567%+ Points / potential airdropAster: Stage 5 · farm board+$57 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.015%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ENAUSDT	0.2118	0.0100	pay 0.0050% / 4h	19m 18s	$1.5M	$2.9M	50x
Short	Kraken Futures PF_ENAUSD	0.2118	0.0242	get 0.0030% / 1h	19m 18s	$2.6M	$4.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Aster. 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 AsterbpFee Kraken FuturesbpOrdersPrice spread, now +0.031%Rate

Funding earned: $29.87
Price spread: +0.031% → +0.015%: $1.62
Slippage, 4 orders: −$44.48
Fee Aster: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$31
Costs to cover: 0.625%
Break-even: 14.3 days

Slippage from Aster: live order book, 4 min ago; Kraken Futures: live order book, 5 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 Aster live order book, 4 min ago	3.30 bp	9.4 bp −$9	20.6 bp −$206	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	14.37 bp	24.4 bp −$24	35.5 bp −$355	118.5 bp −$11.9K	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	−0.0163%	1h	0.2120	+0.102%	$363K	$398K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0071%	4h	0.2117	−0.049%	$44K	$25K	10x	as long as short
01 Exchange ENAUSD	−0.0064%	1h	0.2118	+0.012%	$4K	$302	10x	as long as short
Deribit ENA_USDC-PERPETUAL	−0.0033%	1h	0.2117	−0.030%	$79K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2117	−0.022%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.267%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2121	+0.168%	$8K	$266K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2117	−0.035%	$56K	$475K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2116	−0.065%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2116	−0.080%	$656K	$1.7M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ENA	+0.0100%	1h	0.2120	+0.088%	$115.4M	$75.1M	10x	as long as short
Aster ENAUSDTlong	+0.0100%	4h	0.2118	long leg	$1.5M	$2.9M	50x
Pacifica ENA	+0.0100%	1h	0.2118	−0.005%	$404K	$517K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2117	−0.011%	$129.0M	$416.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2117	−0.016%	$85.5M	$175.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2117	−0.011%	$20.8M	$103.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2118	+0.017%	$18K	$317K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2118	+0.012%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.059%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2117	−0.021%	$11.1M	$22.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2117	−0.035%	$46.1M	$41.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2118	+0.022%	$24.6M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2115	−0.106%	$48.1M	$57.5M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2117	−0.035%	—	$32.3M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2118	+0.015%	$3.1M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2118	+0.017%	$245K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2118	+0.006%	$350K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	+0.012%	$20K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2117	−0.030%	$183K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2065	−2.471%	$1K	$849K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2117	−0.035%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2123	+0.244%	$274K	$796K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2117	−0.035%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2116	−0.071%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2118	+0.009%	$74K	$4K	3x	as long as short
Lighter ENA	+0.0120%	1h	0.2120	+0.121%	$5.2M	$13.5M	10x	as long as short
dYdX ENA-USD	+0.0128%	1h	0.2119	+0.064%	$140K	$15K	5x	as long as short
Kraken Futures PF_ENAUSDshort	+0.0242%	1h	0.2118	+0.031%	$2.6M	$4.3M	50x
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2118	−0.009%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2120	+0.097%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2116	−0.105%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2127	+0.433%	$869K	$1.7M	50x	as long as short