Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.023%

Price spread now: Injective against KuCoin+0.061%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.215%+$22 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 0.061% dearer against KuCoin than usual: you sell high and buy low (spread +0.061% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.1 days. Mind the row above: over the last 7 days funding on this pair paid +0.215%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENAUSDTM	0.2122	0.0100	pay 0.0050% / 4h	1h 27m	$24.6M	$15.7M	75x
Short	Injective ENA/USDC PERP	0.2123	0.0033	get 0.0004% / 1h	27m 06s	$522	$57K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.061%Rate

Funding earned: −$14
Price spread: +0.061% → 0.000%: $6.13
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$19.89
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 2 min ago; Injective: 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, 2 min ago	1.65 bp	12.8 bp −$13	34.9 bp −$349	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0117%	4h	0.2120	−0.090%	$44K	$26K	10x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2121	−0.038%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2122	−0.028%	$55K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2116	−0.281%	$82K	—	150x	as long as short
Injective ENA/USDC PERPshort	+0.0033%	1h	0.2123	+0.061%	$522	$57K	5.5x
Popdex ENAUSDT	+0.0096%	1h	0.2122	−0.005%	$53K	$483K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2120	−0.115%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2120	−0.099%	$561K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2123	+0.057%	$114.9M	$76.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2122	+0.009%	$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	0.2121	−0.056%	$402K	$544K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2122	−0.024%	$128.4M	$429.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2120	−0.118%	$89.4M	$186.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2122	−0.024%	$21.1M	$108.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2122	−0.014%	$33K	$330K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2120	−0.099%	$78K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.217%	$92K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2122	−0.028%	$12.4M	$26.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2122	−0.024%	$37.6M	$42.8M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2122	long leg	$24.6M	$15.7M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2119	−0.127%	$48.0M	$60.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2121	−0.057%	—	$31.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2119	−0.142%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2120	−0.107%	$256K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2121	−0.035%	$350K	$5.1M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	−0.193%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2122	+0.005%	$186K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2071	−2.413%	$1K	$904K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2121	−0.052%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.302%	$267K	$820K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2121	−0.052%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2120	−0.113%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2122	−0.021%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2119	−0.170%	$8K	$276K	10x	as long as short
dYdX ENA-USD	+0.0184%	1h	0.2121	−0.075%	$140K	$16K	5x	as long as short
Lighter ENA	+0.0184%	1h	0.2124	+0.071%	$5.0M	$13.5M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0753%	1h	0.2121	−0.030%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2121	−0.033%	$5.6M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2117	−0.252%	$1K	$5K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0444%	1h	0.2122	+0.016%	$2.6M	$4.4M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0547%	1h	0.2122	+0.005%	$394K	$437K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2127	+0.207%	$877K	$1.8M	50x	as long as short