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: Bybit against KuCoin−0.033%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$510.507% of the position

Long on KuCoin Short on Bybit

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+0.026%+$3 · spread now −0.033%, 7d avg −0.033%

Together, before fees+0.015%+$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENAUSDTM	0.2108	0.0100	pay 0.0050% / 4h	1h 05m	$24.0M	$16.4M	75x
Short	Bybit ENAUSDT	0.2107	0.0100	get 0.0050% / 4h	1h 05m	$88.0M	$190.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.033%Rate

Funding earned: $0
Price spread: −0.033% → −0.033%: −$0.02
Slippage, 4 orders: −$27.73
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$50.76
Costs to cover: 0.507%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Bybit: 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 KuCoin live order book, 3 min ago	2.37 bp	17.1 bp −$17	38.3 bp −$383	doesn't fit	doesn't fit
Sell Bybit live order book, 8 min ago	0.24 bp	8.8 bp −$9	16.3 bp −$163	53.6 bp −$5,359	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	−0.0037%	4h	0.2107	−0.028%	$41K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0004%	1h	0.2109	+0.038%	$372K	$447K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2108	0.000%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2109	+0.028%	$101K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.731%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2109	+0.032%	$2.7M	$5.5M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2111	+0.142%	$62K	$530K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2109	+0.066%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2111	+0.159%	$664K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2109	+0.030%	$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	0.2110	+0.100%	$408K	$575K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2107	−0.026%	$130.4M	$455.0M	75x	as long as short
Bybit ENAUSDTshort	+0.0100%	4h	0.2107	−0.033%	$88.0M	$190.6M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2107	−0.038%	$20.4M	$111.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2099	−0.446%	$15K	$397K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2110	+0.095%	$83K	$220K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2099	−0.414%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2107	−0.047%	$10.7M	$21.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2107	−0.038%	$46.7M	$47.1M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2108	long leg	$24.0M	$16.4M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2106	−0.100%	$47.7M	$64.6M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2108	−0.019%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	−0.514%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2098	−0.480%	$249K	$7.7M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2105	−0.124%	$358K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2107	−0.047%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2112	+0.213%	$178K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2057	−2.434%	$1K	$817K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2107	−0.047%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2111	+0.152%	$274K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2106	−0.095%	$2.0M	$9.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2108	−0.014%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2098	−0.455%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0144%	1h	0.2112	+0.166%	$4K	$312	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0248% / S −0.0429%	1h	0.2108	+0.013%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2110	+0.109%	$5.5M	$8.1M	75x	as long as short
Extended ENA-USD	+0.0352%	1h	0.2107	−0.049%	$1.6M	$4.1M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2111	+0.143%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0552%	1h	0.2110	+0.104%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2112	+0.204%	$834K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0584%	1h	0.2111	+0.133%	$111.5M	$78.5M	10x	as long as short
dYdX ENA-USD	+0.1982%	1h	0.2109	+0.024%	$139K	$15K	5x	as long as short