Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h +0.066%

Price spread now: SunX against Kraken Futures−2.389%7-day average −2.450% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.175%−$18 on $10k

Price spread, last 4 days (all we have)−0.142%−$14 · spread now −2.389%, 7d avg −2.450%

Together, before fees−0.317%−$32 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.061% dearer against Kraken Futures than usual: you sell high and buy low (spread −2.389% now, against its 7-day average of −2.450%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ENAUSD	0.2116	0.0148	pay 0.0019% / 1h	4m 56s	$2.6M	$4.3M	50x
Short	SunX ENA-USDT	0.2065	0.0100	get 0.0050% / 4h	4m 56s	$1K	$908K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Kraken Futures. 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 Kraken FuturesbpFee SunXbpOrdersPrice spread, now −2.389%Rate

Funding earned: −$10.17
Price spread: −2.389% → −2.450%: $6.1
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$22.07
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 4 min ago; SunX: live order book, 47 min ago. Net counts fees only.

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 Kraken Futures live order book, 4 min ago	7.79 bp	17.2 bp −$17	24.3 bp −$243	118.2 bp −$11.8K	doesn't fit
Sell SunX live order book, 47 min ago	262.95 bp	doesn't fit	doesn't fit	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	−0.0082%	4h	0.2116	−0.002%	$44K	$17K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2117	+0.064%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2115	−0.043%	$81K	—	150x	as long as short
01 Exchange ENAUSD	+0.0032%	1h	0.2118	+0.097%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.367%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2117	+0.064%	$53K	$485K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2114	−0.064%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2117	+0.045%	$567K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2116	+0.036%	$114.8M	$74.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2116	+0.011%	$1.4M	$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	0.2116	+0.024%	$408K	$562K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2114	−0.060%	$128.7M	$424.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2113	−0.139%	$90.6M	$187.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2115	−0.021%	$21.2M	$107.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2115	−0.025%	$33K	$311K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2118	+0.112%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2118	+0.135%	$92K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2115	−0.040%	$13.1M	$27.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2114	−0.068%	$39.3M	$43.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2116	+0.022%	$25.0M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2113	−0.125%	$48.0M	$59.6M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2114	−0.077%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2116	+0.027%	$410K	$483K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2114	−0.093%	$3.1M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2116	+0.038%	$255K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	+0.066%	$358K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2116	+0.017%	$19K	$646K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2117	+0.069%	$182K	$2.6M	10x	as long as short
SunX ENA-USDTshort	+0.0100%	4h	0.2065	−2.389%	$1K	$908K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2115	−0.030%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2120	+0.201%	$267K	$808K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2115	−0.030%	$1.9M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2113	−0.137%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2116	+0.005%	$74K	$4K	3x	as long as short
Lighter ENA	+0.0144%	1h	0.2118	+0.093%	$5.0M	$13.9M	10x	as long as short
Kraken Futures PF_ENAUSDlong	+0.0148%	1h	0.2116	long leg	$2.6M	$4.3M	50x
Phoenix ENA	+0.0190%	1h	0.2118	+0.102%	$13K	$273K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0754%	1h	0.2115	−0.008%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2115	−0.025%	$5.6M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2115	−0.013%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2115	−0.007%	$799K	$1.9M	50x	as long as short
dYdX ENA-USD	+0.0791%	1h	0.2115	−0.044%	$140K	$16K	5x	as long as short