Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: edgeX against Aevo−0.517%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 edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

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

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.517% cheaper against Aevo than usual: you would sell low and buy high, −$52 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo ENA-PERP	0.2115	0.0104	pay 0.0013% / 1h	58m 48s	$74K	$4K	3x
Short	edgeX ENAUSDC	0.2105	0.0100	get 0.0050% / 4h	1h 58m	$244K	$6.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.517%Rate

Funding earned: −$0.84
Price spread: −0.517% → 0.000%: −$51.71
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$77.55
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; edgeX: live order book, 3 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 edgeX live order book, 3 min ago	7.13 bp	11.6 bp −$12	13.2 bp −$132	44.3 bp −$4,433	doesn't fit

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 exchanges

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	−0.0183%	4h	0.2115	−0.019%	$44K	$14K	10x	as long as short
Kraken Futures PF_ENAUSD	−0.0132%	1h	0.2116	+0.029%	$2.6M	$4.2M	50x	as long as short
01 Exchange ENAUSD	−0.0128%	1h	0.2114	−0.052%	$4K	$60	10x	as long as short
Bitget ENAUSDT	−0.0040%	4h	0.2115	−0.028%	$47.7M	$57.1M	75x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2116	+0.038%	$105K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2107	−0.406%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	+0.303%	$734	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2116	+0.033%	$5.0M	$12.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2114	−0.071%	$57K	$389K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2112	−0.145%	$47K	—	10x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2114	−0.071%	$587K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2117	+0.076%	$114.2M	$78.3M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2116	+0.031%	$1.3M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2115	−0.039%	$389K	$527K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2115	−0.033%	$127.2M	$409.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2112	−0.175%	$86.7M	$185.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2113	−0.128%	$21.0M	$101.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2115	−0.005%	$27K	$333K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2116	+0.024%	$79K	$238K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2114	−0.047%	$103K	$12K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2117	+0.071%	$13.8M	$26.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2112	−0.156%	$42.4M	$40.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2116	+0.014%	$25.1M	$15.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2117	+0.061%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2105	−0.517%	$3.0M	$8.0M	—	as long as short
edgeX ENAUSDCshort	+0.0100%	4h	0.2105	−0.517%	$244K	$6.9M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2106	−0.449%	$352K	$4.4M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2107	−0.402%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2116	+0.028%	$167K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2064	−2.411%	$1K	$920K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2115	−0.024%	$6K	$5K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2121	+0.255%	$265K	$780K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2114	−0.071%	$1.9M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2115	−0.012%	$1.6M	$4.8M	50x	as long as short
Aevo ENA-PERPlong	+0.0104%	1h	0.2115	long leg	$74K	$4K	3x
Phoenix ENA	+0.0112%	1h	0.2106	−0.463%	$13K	$277K	10x	as long as short
dYdX ENA-USD	+0.0155%	1h	0.2118	+0.127%	$140K	$15K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0756%	1h	0.2115	−0.012%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2116	+0.019%	$5.6M	$3.3M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2114	−0.072%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0480%	1h	0.2119	+0.184%	$781K	$1.9M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0575%	1h	0.2115	0.000%	$406K	$474K	5x	as long as short