Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: BingX against Aevo−0.004%7-day average — · you buy dearer than you sell

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

Long on Aevo Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo ENA-PERP	0.2158	0.0104	pay 0.0013% / 1h	18m 03s	$75K	$4K	3x
Short	BingX ENA-USDC	0.2158	0.0100	get 0.0050% / 4h	3h 18m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Aevo. 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 AevobpFee BingXbpOrdersPrice spread, now −0.004%Rate

Funding earned: −$0.84
Price spread: −0.004% → 0.000%: −$0.37
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee BingX: 5 bp × 2 orders: −$10
Net: −$27.21
Costs to cover: 0.260%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; BingX: live order book, 2 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 Aevo no order-book sample	—	—	—	—	—
Sell BingX live order book, 2 min ago	0.69 bp	11.3 bp −$11	25.9 bp −$259	70.0 bp −$7,002	516.3 bp −$258.2K

Aevo: 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.

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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2157	−0.022%	$80K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2153	−0.221%	$103K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0033%	4h	0.2156	−0.082%	$42K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.589%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0035%	1h	0.2151	−0.313%	$142K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2150	−0.356%	$63K	$518K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2151	−0.312%	$712K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2157	−0.052%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2150	−0.370%	$423K	$553K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2157	−0.010%	$134.5M	$443.3M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2158	+0.001%	$89.0M	$187.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2159	+0.052%	$21.2M	$110.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2145	−0.574%	$16K	$411K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2152	−0.263%	$107K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2150	−0.352%	$94K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2158	+0.001%	$11.0M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2159	+0.075%	$46.1M	$44.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2158	+0.038%	$24.8M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2157	−0.013%	$48.9M	$61.4M	75x	as long as short
BingX ENA-USDCshort	+0.0100%	4h	0.2158	−0.004%	—	$6.5M	—
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2159	+0.075%	$384K	$409K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2144	−0.611%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2144	−0.616%	$248K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2145	−0.603%	$357K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2146	−0.541%	$33K	$688K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2153	−0.226%	$180K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2101	−2.627%	$1K	$832K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2157	−0.032%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2164	+0.293%	$279K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2156	−0.078%	$2.0M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2149	−0.411%	$48K	$110	10x	as long as short
Aevo ENA-PERPlong	+0.0104%	1h	0.2158	long leg	$75K	$4K	3x
Phoenix ENA	+0.0150%	1h	0.2147	−0.476%	$8K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0184%	1h	0.2152	−0.254%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0231%	1h	0.2158	+0.038%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0312%	1h	0.2158	+0.021%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0333% / S −0.0430%	1h	0.2153	−0.228%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2151	−0.291%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2152	−0.262%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2150	−0.361%	$851K	$1.8M	50x	as long as short
Lighter ENA	+0.0704%	1h	0.2160	+0.108%	$5.7M	$12.7M	10x	as long as short
Hyperliquid ENA	+0.0769%	1h	0.2162	+0.177%	$117.4M	$74.6M	10x	as long as short