Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against KuCoin−0.033%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$430.428% of the position

Long on KuCoin Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.032%+$3 on $10k

Price spread, last 7 days+0.043%+$4 · spread now −0.033%, 7d avg −0.005%

Together, before fees+0.075%+$8 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: MEXC is 0.028% cheaper against KuCoin than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENAUSDTM	0.2113	0.0100	pay 0.0050% / 4h	2h 25m	$24.6M	$15.6M	75x
Short	MEXC ENA_USDT	0.2112	0.0100	get 0.0050% / 4h	2h 25m	$46.3M	$41.3M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.033%Rate

Funding earned: $0
Price spread: −0.033% → −0.005%: −$2.84
Slippage, 4 orders: −$30.83
Fee KuCoin: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$45.67
Costs to cover: 0.428%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; MEXC: live order book, 3 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	2.13 bp	26.2 bp −$26	50.8 bp −$508	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.24 bp	1.4 bp −$1	5.7 bp −$57	33.5 bp −$3,354	65.4 bp −$32.7K

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	−0.0142%	4h	0.2111	−0.076%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2103	−0.459%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2112	−0.041%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0032%	1h	0.2113	+0.028%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.506%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0040%	4h	0.2111	−0.080%	$11.1M	$23.8M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2111	−0.080%	$57K	$467K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2110	−0.126%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2111	−0.090%	$654K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2113	+0.009%	$114.6M	$74.4M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2112	−0.049%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2108	−0.217%	$395K	$525K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2112	−0.014%	$128.1M	$418.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2112	−0.052%	$85.5M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2112	−0.024%	$21.2M	$104.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2117	+0.194%	$20K	$323K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2112	−0.033%	$79K	$276K	10x	as long as short
MEXC ENA_USDTshort	+0.0100%	4h	0.2112	−0.033%	$46.3M	$41.3M	200x
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2113	long leg	$24.6M	$15.6M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2110	−0.109%	$47.9M	$57.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2112	−0.038%	—	$31.1M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2102	−0.506%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2106	−0.305%	$243K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	+0.210%	$351K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2106	−0.317%	$19K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2112	−0.052%	$190K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2053	−2.845%	$1K	$872K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2103	−0.459%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2111	−0.095%	$266K	$795K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2102	−0.506%	$1.8M	$8.9M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2118	+0.251%	$93K	−$0	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2111	−0.066%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2103	−0.474%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2103	−0.445%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0163%	1h	0.2104	−0.420%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0216%	1h	0.2109	−0.194%	$5.2M	$13.1M	10x	as long as short
dYdX ENA-USD	+0.0298%	1h	0.2107	−0.279%	$139K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0753%	1h	0.2112	−0.035%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2106	−0.312%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2112	−0.049%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0568%	1h	0.2103	−0.464%	$356K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2123	+0.492%	$869K	$1.7M	50x	as long as short