Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.054%

Price spread now: Aster against Arcus+0.009%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$440.443% of the position

Long on Arcus Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.120%+$12 on $10k

Price spread, last 4 days (all we have)+0.152%+$15 · spread now +0.009%, 7d avg +0.035%

Together, before fees+0.272%+ Points / potential airdropAster: Stage 5 · farm board+$27 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.026% cheaper against Arcus than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ENA-USD	0.2116	0.0100	pay 0.0013% / 1h	46m 25s	$84K	$222K	10x
Short	Aster ENAUSDT	0.2116	0.0100	get 0.0050% / 4h	3h 46m	$1.5M	$3.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Arcus. 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 ArcusbpFee AsterbpOrdersPrice spread, now +0.009%Rate

Funding earned: $0
Price spread: +0.009% → +0.035%: −$2.56
Slippage, 4 orders: −$31.76
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$46.82
Costs to cover: 0.443%
Break-even: never at this rate

Slippage from Arcus: live order book, 27 min ago; Aster: live order book, 2 min ago.

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 Arcus live order book, 27 min ago	7.04 bp	10.0 bp −$10	21.2 bp −$212	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	4.02 bp	11.4 bp −$11	18.7 bp −$187	doesn't fit	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
Backpack ENA_USDC_PERP	−0.0081%	1h	0.2120	+0.170%	$377K	$417K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2119	+0.142%	$94K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2113	−0.156%	$96K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0020%	4h	0.2112	−0.165%	$41K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.350%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0059%	1h	0.2117	+0.032%	$140K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2115	−0.047%	$63K	$524K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2115	−0.047%	$669K	$1.8M	10x	as long as short
Aster ENAUSDTshort	+0.0100%	4h	0.2116	+0.009%	$1.5M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2116	+0.021%	$410K	$555K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2113	−0.123%	$131.1M	$447.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2113	−0.161%	$88.9M	$187.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2113	−0.142%	$20.6M	$109.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2111	−0.241%	$15K	$392K	5x	as long as short
Arcus ENA-USDlong	+0.0100%	1h	0.2116	long leg	$84K	$222K	10x
Bulk ENA-USD	+0.0100%	1h	0.2113	−0.142%	$89K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2112	−0.180%	$10.7M	$20.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2113	−0.128%	$46.2M	$44.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2116	−0.014%	$24.3M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2112	−0.203%	$47.9M	$62.3M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2112	−0.165%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2114	−0.075%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2111	−0.232%	$246K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2111	−0.230%	$355K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2112	−0.189%	$34K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2114	−0.109%	$180K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2070	−2.174%	$924	$828K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2117	+0.047%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2120	+0.189%	$275K	$1.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2115	−0.034%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2112	−0.181%	$74K	$4K	3x	as long as short
Phemex ENAUSDT	+0.0113%	4h	0.2118	+0.095%	$1.9M	$9.3M	50x	as long as short
Phoenix ENA	+0.0150%	1h	0.2114	−0.076%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0208%	1h	0.2117	+0.028%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0236%	1h	0.2119	+0.144%	$2.7M	$5.1M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2112	−0.173%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0264%	1h	0.2115	−0.068%	$1.6M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2117	+0.071%	$5.6M	$4.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2112	−0.181%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0608%	1h	0.2119	+0.132%	$5.6M	$12.5M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2120	+0.198%	$837K	$1.9M	50x	as long as short
Hyperliquid ENA	+0.0610%	1h	0.2118	+0.083%	$114.2M	$76.3M	10x	as long as short