Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: edgeX against Arcus−0.132%7-day average +0.008% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$480.481% of the position

Long on Arcus Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.769%+$77 · spread now −0.132%, 7d avg +0.008%

Together, before fees+0.768%+ Points / potential airdropedgeX: Active · farm board+$77 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: edgeX is 0.140% cheaper against Arcus than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.008%.

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	1m 27s	$79K	$276K	10x
Short	edgeX ENAUSDC	0.2113	0.0100	get 0.0050% / 4h	1m 27s	$244K	$6.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.132%Rate

Funding earned: $0
Price spread: −0.132% → +0.008%: −$13.96
Slippage, 4 orders: −$34.62
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$62.08
Costs to cover: 0.481%
Break-even: never at this rate

Slippage from Arcus: live order book, 57 min ago; edgeX: live order book, 3 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, 57 min ago	9.48 bp	12.5 bp −$12	23.8 bp −$238	doesn't fit	doesn't fit
Sell edgeX live order book, 3 min ago	7.10 bp	11.6 bp −$12	13.1 bp −$131	44.1 bp −$4,414	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	−0.0129%	1h	0.2111	−0.217%	$361K	$401K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0080%	4h	0.2110	−0.284%	$44K	$25K	10x	as long as short
01 Exchange ENAUSD	−0.0016%	1h	0.2116	−0.019%	$4K	$302	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2111	−0.236%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2115	−0.047%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.350%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2110	−0.279%	$8K	$266K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2114	−0.095%	$56K	$475K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2113	−0.162%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2113	−0.125%	$658K	$1.7M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2113	−0.121%	$1.5M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2113	−0.122%	$403K	$521K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2115	−0.066%	$128.5M	$415.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2114	−0.099%	$85.4M	$175.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2115	−0.066%	$21.1M	$103.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2105	−0.506%	$20K	$318K	5x	as long as short
Arcus ENA-USDlong	+0.0100%	1h	0.2116	long leg	$79K	$276K	10x
Bulk ENA-USD	+0.0100%	1h	0.2107	−0.449%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2114	−0.071%	$11.1M	$22.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2114	−0.090%	$46.2M	$41.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2115	−0.024%	$25.0M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2113	−0.137%	$48.0M	$57.6M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2115	−0.047%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2105	−0.530%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDCshort	+0.0100%	4h	0.2113	−0.132%	$244K	$6.9M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2115	−0.038%	$359K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2116	0.000%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2115	−0.043%	$178K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2059	−2.675%	$983	$850K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2111	−0.236%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	+0.047%	$274K	$793K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2110	−0.284%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2114	−0.078%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2111	−0.253%	$74K	$4K	3x	as long as short
dYdX ENA-USD	+0.0154%	1h	0.2113	−0.123%	$140K	$15K	5x	as long as short
Lighter ENA	+0.0184%	1h	0.2115	−0.033%	$5.2M	$13.5M	10x	as long as short
Hyperliquid ENA	+0.0213%	1h	0.2117	+0.061%	$115.4M	$74.8M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0243%	1h	0.2112	−0.186%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2115	−0.051%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2115	−0.024%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2113	−0.130%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2120	+0.198%	$866K	$1.7M	50x	as long as short