Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0034%/8h= −3.8% APRpaid last 24h −0.060%

Price spread now: Kraken Futures against SunX+2.611%7-day average +2.450% · you sell dearer than you buy

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

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 3 days (all we have)+0.052%+$5 · spread now +2.611%, 7d avg +2.450%

Together, before fees+0.163%+$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.162% dearer against SunX than usual: you sell high and buy low (spread +2.611% now, against its 7-day average of +2.450%): +$16 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 16 days. Mind the row above: over the last 7 days funding on this pair paid +0.111%, 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	SunX ENA-USDT	0.2060	0.0100	pay 0.0050% / 4h	1h 03m	$1K	$819K	20x
Short	Kraken Futures PF_ENAUSD	0.2113	0.0066	get 0.0008% / 1h	3m 28s	$2.7M	$5.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against SunX. 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 SunXbpFee Kraken FuturesbpOrdersPrice spread, now +2.611%Rate

Funding earned: −$7.2
Price spread: +2.611% → +2.450%: $16.15
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$9.05
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 68 min ago; Kraken Futures: live order book, 5 min ago. 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 SunX live order book, 68 min ago	258.49 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	4.03 bp	17.6 bp −$18	27.5 bp −$275	107.8 bp −$10.8K	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	−0.0038%	4h	0.2112	+2.525%	$41K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0004%	1h	0.2115	+2.685%	$373K	$447K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2113	+2.573%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2113	+2.569%	$101K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+3.098%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSDshort	+0.0066%	1h	0.2113	+2.611%	$2.7M	$5.5M	50x
Popdex ENAUSDT	+0.0096%	1h	0.2111	+2.496%	$62K	$530K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2112	+2.556%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2111	+2.482%	$664K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2113	+2.592%	$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	0.2114	+2.630%	$409K	$575K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2111	+2.519%	$130.6M	$455.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2111	+2.500%	$88.2M	$190.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2112	+2.539%	$20.5M	$111.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2105	+2.224%	$15K	$398K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2114	+2.641%	$83K	$220K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2099	+1.926%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2113	+2.583%	$10.7M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2113	+2.598%	$46.5M	$47.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2114	+2.666%	$24.1M	$16.3M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2110	+2.462%	$47.8M	$64.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2113	+2.588%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2109	+2.416%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2107	+2.305%	$250K	$7.7M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2107	+2.301%	$349K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2109	+2.399%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2112	+2.534%	$177K	$2.6M	10x	as long as short
SunX ENA-USDTlong	+0.0100%	4h	0.2060	long leg	$1K	$819K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2113	+2.593%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2112	+2.544%	$274K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2112	+2.544%	$2.0M	$9.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2112	+2.542%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2109	+2.423%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0144%	1h	0.2112	+2.549%	$4K	$312	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0249% / S −0.0432%	1h	0.2112	+2.557%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2107	+2.311%	$5.5M	$8.1M	75x	as long as short
Extended ENA-USD	+0.0344%	1h	0.2112	+2.556%	$1.6M	$4.2M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2111	+2.506%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0568%	1h	0.2116	+2.734%	$5.7M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2113	+2.578%	$835K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0584%	1h	0.2115	+2.680%	$111.7M	$78.5M	10x	as long as short
dYdX ENA-USD	+0.1976%	1h	0.2113	+2.569%	$140K	$15K	5x	as long as short