Funding arb · Price arb /

ENJ

all ENJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0770%/8h= −84.3% APRpaid last 24h −0.495%

Price spread now: Bitget against Kraken Futures−0.028%48s7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 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 −$23 a day on $10k at the current rate, and Bitget is 0.028% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ENJUSD	0.02780	0.0870	pay 0.0109% / 1h	1m 21s	$24K	$13K	20x
Short	Bitget ENJUSDT	0.02779	0.0100	get 0.0050% / 4h	1h 01m	$701K	$269K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Kraken Futures. 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 Kraken FuturesbpFee BitgetbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$161.64
Price spread: −0.028% → 0.000%: −$2.79
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$186.43
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Bitget: live order book, 39 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Bitget live order book, 39 min ago	3.60 bp	31.5 bp −$32	85.6 bp −$856	doesn't fit	doesn't fit

Kraken Futures: 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.

ENJ on 13 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
Aster ENJUSDT	+0.0100%	4h	0.02780	−0.002%	$17K	$5K	5x	as long as short
Binance ENJUSDT	+0.0100%	4h	0.02777	−0.095%	$3.0M	$3.5M	50x	as long as short
Bybit ENJUSDT	+0.0100%	8h	0.02778	−0.064%	$931K	$554K	25x	as long as short
OKX ENJ-USDT-SWAP	+0.0100%	4h	0.02781	+0.044%	$290K	$384K	10x	as long as short
Gate ENJ_USDT	+0.0100%	4h	0.02779	−0.028%	$107K	$36K	25x	as long as short
MEXC ENJ_USDT	+0.0100%	4h	0.02778	−0.064%	$1.8M	$859K	75x	as long as short
KuCoin ENJUSDTM	+0.0100%	4h	0.02783	+0.116%	$391K	$67K	30x	as long as short
Bitget ENJUSDTshort	+0.0100%	4h	0.02779	−0.028%	$701K	$269K	50x
Variational Omni ENJ	+0.0100%	8h	0.02785	+0.170%	$2K	$19K	—	as long as short
Extended ENJ-USD	+0.0104%	1h	0.02777	−0.084%	$3K	$282K	5x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin ENJ-USDT	+0.0107%	4h	0.02781	+0.044%	$129K	$101K	50x	as long as short
BingX ENJ-USDT	+0.0200%	4h	0.02781	+0.044%	—	$2.4M	—	as long as short
Kraken Futures PF_ENJUSDlong	+0.0870%	1h	0.02780	long leg	$24K	$13K	20x