ENJ arbitrage explained
Right now Enjin Coin (ENJ) trades on 9 venues we scan: 9 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Bitget perp at $0.0295 and the highest bid on OKX spot at $0.0296.
The widest ENJ perpetual spread is between Binance and OKX: long ENJ on Binance at $0.0295 and short on OKX at $0.0296 for +0.07% gross, or -0.09% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is 0.000% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best ENJ route is to buy spot on KuCoin and short the perpetual on OKX: 0.00% gross, -0.20% net, with +0.030% a day of funding on the short leg.
Spot–spot ENJ arbitrage (buy on KuCoin, withdraw, deposit and sell on OKX) shows +0.10% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small ENJ gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: ENJ funding rates · ENJ spread charts · Enjin Coin price · arbitrage scanner for all coins.