Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against Polymarket Perps+0.057%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$450.451% of the position

Long on Polymarket Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.173%+$17 on $10k

Price spread, last 7 days−0.122%−$12 · spread now +0.057%, 7d avg −0.012%

Together, before fees+0.052%+$5 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: KuCoin is 0.069% dearer against Polymarket Perps than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ENA-USD	0.2097	0.0100	pay 0.0013% / 1h	38m 23s	$178K	$2.3M	10x
Short	KuCoin ENAUSDTM	0.2099	0.0100	get 0.0050% / 4h	38m 23s	$24.5M	$15.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Polymarket Perps. 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 Polymarket PerpsbpFee KuCoinbpOrdersPrice spread, now +0.057%Rate

Funding earned: $0
Price spread: +0.057% → −0.012%: $6.88
Slippage, 4 orders: −$25.13
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$38.25
Costs to cover: 0.451%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 5 min ago; KuCoin: live order book, 6 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 Polymarket Perps live order book, 5 min ago	2.38 bp	6.8 bp −$7	8.0 bp −$80	12083.6 bp −$1.21M	doesn't fit
Sell KuCoin live order book, 6 min ago	2.14 bp	16.2 bp −$16	42.8 bp −$428	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
Backpack ENA_USDC_PERP	−0.0297%	1h	0.2092	−0.253%	$363K	$390K	5x	as long as short
01 Exchange ENAUSD	−0.0104%	1h	0.2096	−0.076%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0065%	4h	0.2097	−0.014%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2098	+0.048%	$78K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2098	+0.014%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.240%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2104	+0.315%	$8K	$266K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2095	−0.114%	$5.2M	$13.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2096	−0.067%	$55K	$503K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2094	−0.185%	$47K	$110	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2097	−0.019%	$660K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2099	+0.064%	$111.6M	$73.2M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2095	−0.120%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2093	−0.190%	$408K	$499K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2098	+0.034%	$127.9M	$415.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2097	0.000%	$85.1M	$175.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2098	+0.043%	$20.8M	$102.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2102	+0.224%	$20K	$313K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2090	−0.353%	$77K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	+0.019%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2097	+0.005%	$11.0M	$21.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2098	+0.043%	$45.7M	$41.2M	200x	as long as short
KuCoin ENAUSDTMshort	+0.0100%	4h	0.2099	+0.057%	$24.5M	$15.6M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2096	−0.062%	$47.8M	$57.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2098	+0.010%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	−0.030%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2097	−0.020%	$242K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2098	+0.028%	$353K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2098	+0.029%	$20K	$646K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2097	long leg	$178K	$2.3M	10x
SunX ENA-USDT	+0.0100%	4h	0.2047	−2.422%	$1K	$845K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2097	−0.019%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2099	+0.072%	$271K	$794K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2092	−0.257%	$1.7M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2096	−0.061%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2098	+0.043%	$73K	$4K	3x	as long as short
dYdX ENA-USD	+0.0108%	1h	0.2092	−0.237%	$138K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0245%	1h	0.2098	+0.019%	$2.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2098	+0.015%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2093	−0.200%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2097	−0.016%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2106	+0.415%	$858K	$1.5M	50x	as long as short