Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against KuCoin−0.323%97s7-day average +0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$730.727% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 4 days (all we have)+0.372%+$37 · spread now −0.323%, 7d avg +0.038%

Together, before fees+0.434%+$43 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: ApeX Omni is 0.360% cheaper against KuCoin than usual: you would sell low and buy high, −$36 on $10k if it goes back to its 7-day average of +0.038%. The two prices were read 97 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENAUSDTM	0.2106	0.0100	pay 0.0050% / 4h	1h 01m	$24.6M	$15.6M	75x
Short	ApeX Omni ENAUSDT	0.2099	0.0100	get 0.0013% / 1h	1m 50s	$22K	$650K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against KuCoin. 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 KuCoinbpFee ApeX OmnibpOrdersPrice spread, now −0.323%Rate

Funding earned: $0
Price spread: −0.323% → +0.038%: −$36.05
Slippage, 4 orders: −$50.7
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$108.75
Costs to cover: 0.727%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; ApeX Omni: live order book, 61 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 KuCoin live order book, 2 min ago	3.09 bp	19.4 bp −$19	37.6 bp −$376	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 61 min ago	9.40 bp	18.6 bp −$19	147.5 bp −$1,475	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	−0.0044%	4h	0.2104	−0.081%	$44K	$25K	10x	as long as short
01 Exchange ENAUSD	−0.0016%	1h	0.2104	−0.066%	$4K	$302	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2105	−0.038%	$78K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2105	−0.054%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.836%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2103	−0.133%	$55K	$498K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2103	−0.142%	$660K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2106	+0.019%	$113.7M	$71.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2106	−0.006%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2105	−0.061%	$411K	$501K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2104	−0.066%	$128.9M	$415.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2104	−0.090%	$85.6M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2104	−0.066%	$20.8M	$101.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2102	−0.157%	$19K	$323K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2105	−0.038%	$78K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2102	−0.180%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2105	−0.057%	$11.0M	$21.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2105	−0.052%	$45.6M	$42.3M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2106	long leg	$24.6M	$15.6M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2103	−0.142%	$47.9M	$57.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2105	−0.057%	—	$32.3M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2106	−0.005%	$372K	$362K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	−0.411%	$3.3M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2098	−0.388%	$243K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2099	−0.322%	$350K	$4.9M	10x	as long as short
ApeX Omni ENAUSDTshort	+0.0100%	1h	0.2099	−0.323%	$22K	$650K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2104	−0.095%	$179K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2053	−2.503%	$1K	$839K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2105	−0.038%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2106	0.000%	$272K	$785K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2105	−0.038%	$1.8M	$8.8M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2104	−0.074%	$47K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2104	−0.108%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2105	−0.038%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2100	−0.275%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2105	−0.048%	$51K	—	100x	as long as short
Lighter ENA	+0.0264%	1h	0.2107	+0.057%	$5.3M	$14.0M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0286%	1h	0.2106	+0.001%	$2.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2106	+0.014%	$5.6M	$3.0M	75x	as long as short
dYdX ENA-USD	+0.0360%	1h	0.2106	−0.012%	$139K	$15K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2102	−0.167%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2107	+0.047%	$858K	$1.5M	50x	as long as short