Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against Binance+0.114%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$470.465% of the position

Long on Binance Short on KuCoin

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.119%−$12 · spread now +0.114%, 7d avg +0.001%

Together, before fees−0.157%−$16 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 0.113% dearer against Binance than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ENAUSDT	0.2114	0.0100	pay 0.0050% / 4h	3h 51m	$131.2M	$448.0M	75x
Short	KuCoin ENAUSDTM	0.2116	0.0100	get 0.0050% / 4h	3h 51m	$24.3M	$16.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Binance. 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 BinancebpFee KuCoinbpOrdersPrice spread, now +0.114%Rate

Funding earned: $0
Price spread: +0.114% → +0.001%: $11.31
Slippage, 4 orders: −$24.53
Fee Binance: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$35.23
Costs to cover: 0.465%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; KuCoin: live order book, 8 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 Binance live order book, 8 min ago	0.23 bp	8.9 bp −$9	15.8 bp −$158	60.2 bp −$6,019	doesn't fit
Sell KuCoin live order book, 8 min ago	1.18 bp	12.0 bp −$12	27.4 bp −$274	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
Backpack ENA_USDC_PERP	−0.0081%	1h	0.2115	+0.052%	$376K	$419K	5x	as long as short
dYdX ENA-USD	0.0000%	1h	0.2117	+0.187%	$140K	$15K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2116	+0.109%	$94K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2117	+0.153%	$104K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0018%	4h	0.2114	+0.047%	$41K	$24K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.468%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0052%	4h	0.2114	+0.028%	$10.8M	$20.6M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2116	+0.118%	$63K	$525K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2116	+0.121%	$679K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2116	+0.136%	$1.5M	$3.3M	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	0.2117	+0.179%	$410K	$560K	10x	as long as short
Binance ENAUSDTlong	+0.0100%	4h	0.2114	long leg	$131.2M	$448.0M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2113	−0.019%	$88.9M	$187.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2114	0.000%	$20.6M	$109.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2122	+0.412%	$15K	$394K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2117	+0.166%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2126	+0.591%	$90K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2114	+0.047%	$46.1M	$44.0M	200x	as long as short
KuCoin ENAUSDTMshort	+0.0100%	4h	0.2116	+0.114%	$24.3M	$16.6M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2112	−0.080%	$48.0M	$62.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2114	+0.005%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2115	+0.081%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2120	+0.311%	$245K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2120	+0.294%	$353K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2120	+0.308%	$34K	$714K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2117	+0.156%	$181K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2067	−2.195%	$1K	$828K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2115	+0.071%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2123	+0.440%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2114	+0.024%	$1.9M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2117	+0.165%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2116	+0.118%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2124	+0.473%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0208%	1h	0.2118	+0.199%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0236%	1h	0.2117	+0.150%	$2.7M	$5.1M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2116	+0.139%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0256%	1h	0.2115	+0.048%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2116	+0.132%	$5.6M	$4.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2116	+0.108%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0608%	1h	0.2118	+0.208%	$5.6M	$12.5M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2116	+0.137%	$836K	$1.9M	50x	as long as short
Hyperliquid ENA	+0.0628%	1h	0.2118	+0.213%	$114.2M	$76.2M	10x	as long as short