Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0096%/8h= −10.6% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against KuCoin−0.085%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.085% cheaper against KuCoin than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENAUSDTM	0.2112	0.0100	pay 0.0050% / 4h	2h 45m	$24.9M	$15.5M	75x
Short	gTrade (Gains Network) ENA/USD	0.2110	L +0.0004% / S −0.0004%	get 0.0000% / 1h	45m 18s	$82K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.085%Rate

Funding earned: −$20.25
Price spread: −0.085% → 0.000%: −$8.52
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$50.77
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 9 min ago; gTrade (Gains Network): no order-book sample. 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 KuCoin live order book, 9 min ago	3.82 bp	16.9 bp −$17	36.6 bp −$366	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0140%	4h	0.2111	−0.062%	$44K	$25K	10x	as long as short
ApeX Omni ENAUSDT	−0.0028%	1h	0.2110	−0.104%	$20K	$649K	50x	as long as short
01 Exchange ENAUSD	−0.0024%	1h	0.2111	−0.052%	$4K	$277	10x	as long as short
Gate ENA_USDT	−0.0022%	4h	0.2110	−0.090%	$11.0M	$23.4M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2111	−0.043%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USDshort	L +0.0004% / S −0.0004%	1h	0.2110	−0.085%	$82K	—	150x
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.530%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2111	−0.057%	$57K	$467K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2111	−0.040%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2111	−0.047%	$654K	$1.7M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ENA	+0.0100%	1h	0.2112	−0.009%	$114.5M	$74.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2111	−0.046%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2111	−0.034%	$397K	$522K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2111	−0.066%	$128.0M	$416.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2109	−0.128%	$85.4M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2109	−0.128%	$21.1M	$103.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2106	−0.279%	$22K	$321K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2111	−0.057%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2096	−0.744%	$92K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2112	−0.014%	$45.6M	$40.6M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2112	long leg	$24.9M	$15.5M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2110	−0.099%	$48.0M	$57.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2110	−0.099%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2108	−0.195%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2106	−0.289%	$241K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2109	−0.152%	$349K	$4.9M	10x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2111	−0.066%	$189K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2060	−2.452%	$998	$867K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2110	−0.104%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2113	+0.038%	$275K	$777K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2110	−0.104%	$1.7M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2109	−0.131%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2111	−0.055%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2109	−0.161%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0163%	1h	0.2111	−0.034%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0256%	1h	0.2112	+0.014%	$5.2M	$13.0M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2111	−0.071%	$70K	—	100x	as long as short
dYdX ENA-USD	+0.0335%	1h	0.2109	−0.159%	$139K	$15K	5x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2111	−0.057%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2111	−0.057%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0583%	1h	0.2109	−0.133%	$357K	$401K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2100	−0.578%	$860K	$1.7M	50x	as long as short