Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: KuCoin against Bybit+0.075%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$410.408% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 7 days−0.070%−$7 · spread now +0.075%, 7d avg +0.034%

Together, before fees−0.058%−$6 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 0.042% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENAUSDT	0.2125	0.0100	pay 0.0050% / 4h	43m 40s	$89.1M	$190.8M	50x
Short	KuCoin ENAUSDTM	0.2126	0.0100	get 0.0050% / 4h	43m 40s	$24.5M	$16.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bybit. 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 BybitbpFee KuCoinbpOrdersPrice spread, now +0.075%Rate

Funding earned: $0
Price spread: +0.075% → +0.034%: $4.15
Slippage, 4 orders: −$17.76
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$36.61
Costs to cover: 0.408%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; KuCoin: 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 Bybit live order book, 5 min ago	0.23 bp	7.5 bp −$7	15.9 bp −$159	58.7 bp −$5,873	doesn't fit
Sell KuCoin live order book, 5 min ago	1.64 bp	10.3 bp −$10	38.3 bp −$383	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	−0.0027%	4h	0.2126	+0.047%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2127	+0.104%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2127	+0.124%	$106K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.061%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0090%	1h	0.2127	+0.104%	$375K	$448K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2127	+0.108%	$64K	$523K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2126	+0.052%	$684K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2126	+0.080%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2125	+0.028%	$411K	$567K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2125	+0.005%	$131.4M	$455.0M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDTlong	+0.0100%	4h	0.2125	long leg	$89.1M	$190.8M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2125	+0.028%	$20.6M	$112.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2124	−0.024%	$15K	$400K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2126	+0.061%	$84K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2125	+0.036%	$90K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2126	+0.071%	$10.9M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2125	+0.033%	$47.0M	$45.4M	200x	as long as short
KuCoin ENAUSDTMshort	+0.0100%	4h	0.2126	+0.075%	$24.5M	$16.3M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2124	−0.028%	$48.2M	$64.6M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2125	+0.014%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2126	+0.042%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2128	+0.172%	$253K	$7.7M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2129	+0.223%	$355K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2128	+0.155%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2128	+0.136%	$179K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2074	−2.363%	$1K	$823K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2126	+0.061%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2135	+0.466%	$277K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2126	+0.061%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2125	+0.005%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2127	+0.102%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2129	+0.207%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0200%	1h	0.2127	+0.118%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2127	+0.128%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2127	+0.118%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2125	+0.033%	$5.6M	$7.0M	75x	as long as short
Extended ENA-USD	+0.0344%	1h	0.2124	−0.032%	$1.6M	$4.2M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2126	+0.083%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2135	+0.461%	$843K	$2.1M	50x	as long as short
Lighter ENA	+0.0640%	1h	0.2128	+0.165%	$5.7M	$12.8M	10x	as long as short
Hyperliquid ENA	+0.0858%	1h	0.2129	+0.198%	$114.4M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1743%	1h	0.2127	+0.089%	$140K	$15K	5x	as long as short