Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.011%

Price spread now: KuCoin against Extended+0.012%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$450.446% of the position

Long on Extended Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.083%−$8 on $10k

Price spread, last 7 days−0.019%−$2 · spread now +0.012%, 7d avg +0.049%

Together, before fees−0.101%+ Points / potential airdropExtended: Active · farm board−$10 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 0.037% cheaper against Extended than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ENA-USD	0.2089	0.0104	pay 0.0013% / 1h	9m 16s	$1.9M	$3.6M	50x
Short	KuCoin ENAUSDTM	0.2089	0.0100	get 0.0050% / 4h	3h 09m	$24.6M	$11.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Extended. 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 ExtendedbpFee KuCoinbpOrdersPrice spread, now +0.012%Rate

Funding earned: −$0.84
Price spread: +0.012% → +0.049%: −$3.69
Slippage, 4 orders: −$27.55
Fee Extended: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$49.09
Costs to cover: 0.446%
Break-even: never at this rate

Slippage from Extended: 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 Extended live order book, 3 min ago	1.92 bp	6.0 bp −$6	12.4 bp −$124	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	1.44 bp	13.2 bp −$13	28.0 bp −$280	doesn't fit	doesn't fit

ENA on 42 exchanges

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
Kraken Futures PF_ENAUSD	−0.0747%	1h	0.2091	+0.093%	$2.5M	$2.7M	50x	as long as short
Orderly PERP_ENA_USDC	−0.0063%	4h	0.2089	−0.017%	$39K	$16K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2090	+0.050%	$18K	$691K	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0005%	1h	0.2089	+0.022%	$90K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	+1.577%	$734	$581	5.5x	as long as short
Phoenix ENA	+0.0077%	1h	0.2089	+0.022%	$14K	$182K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2089	−0.012%	$4.9M	$8.3M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2087	−0.093%	$62K	$366K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2086	−0.130%	$47K	—	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2087	−0.093%	$580K	$1.1M	10x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ENA	+0.0100%	1h	0.2090	+0.034%	$109.3M	$55.3M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2089	+0.008%	$1.1M	$1.8M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2087	−0.076%	$381K	$274K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2089	−0.002%	$120.5M	$304.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2089	−0.022%	$81.1M	$139.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2089	+0.007%	$19.5M	$77.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2087	−0.117%	$37K	$224K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2087	−0.093%	$75K	$108K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2084	−0.237%	$137K	$8K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2089	−0.012%	$17.2M	$26.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2089	−0.017%	$51.0M	$32.5M	200x	as long as short
KuCoin ENAUSDTMshort	+0.0100%	4h	0.2089	+0.012%	$24.6M	$11.1M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2088	−0.026%	$47.3M	$42.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2089	−0.012%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2090	+0.036%	$343K	$464K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2085	−0.212%	$2.2M	$3.6M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2083	−0.283%	$237K	$5.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2085	−0.169%	$348K	$4.5M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2085	−0.189%	$16K	$631K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2090	+0.031%	$127K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2036	−2.525%	$1K	$895K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2090	+0.050%	$6K	$5K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2092	+0.156%	$258K	$426K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2091	+0.098%	$1.6M	$9.1M	50x	as long as short
Extended ENA-USDlong	+0.0104%	1h	0.2089	long leg	$1.9M	$3.6M	50x
Aevo ENA-PERP	+0.0104%	1h	0.2089	+0.010%	$73K	$4K	3x	as long as short
01 Exchange ENAUSD	+0.0144%	1h	0.2088	−0.026%	$4K	$21	10x	as long as short
dYdX ENA-USD	+0.0162%	1h	0.2087	−0.070%	$138K	$7K	5x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2084	−0.247%	$5.2M	$3.5M	75x	as long as short
Reya ENARUSDPERP	+0.0410%	1h	0.2088	−0.028%	$941	$98	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2094	+0.261%	$765K	$1.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0604% / S −0.1160%	1h	0.2090	+0.033%	$82K	—	100x	as long as short