Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.054%

Price spread now: Arcus against Aster−0.003%7-day average −0.034% · 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−$47as in the Price arb table

costs, in and out, $10k−$500.499% of the position

Long on Aster Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.118%−$12 on $10k

Price spread, last 4 days (all we have)−0.405%−$41 · spread now −0.003%, 7d avg −0.034%

Together, before fees−0.524%+ Points / potential airdropAster: Stage 5 · farm board−$52 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: Arcus is 0.031% dearer against Aster than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ENAUSDT	0.2128	0.0100	pay 0.0050% / 4h	1h 18m	$1.5M	$3.0M	50x
Short	Arcus ENA-USD	0.2128	0.0100	get 0.0013% / 1h	18m 58s	$79K	$276K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Aster. 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 AsterbpFee ArcusbpOrdersPrice spread, now −0.003%Rate

Funding earned: $0
Price spread: −0.003% → −0.034%: $3.09
Slippage, 4 orders: −$37.42
Fee Aster: 4 bp × 2 orders: −$8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$46.83
Costs to cover: 0.499%
Break-even: never at this rate

Slippage from Aster: live order book, 5 min ago; Arcus: live order book, 44 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 Aster live order book, 5 min ago	3.77 bp	10.0 bp −$10	19.9 bp −$199	doesn't fit	doesn't fit
Sell Arcus live order book, 44 min ago	7.05 bp	10.2 bp −$10	23.0 bp −$230	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
Orderly PERP_ENA_USDC	−0.0021%	4h	0.2127	−0.064%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2127	−0.027%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2128	−0.019%	$83K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2130	+0.086%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.219%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2129	+0.044%	$55K	$497K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2129	+0.037%	$668K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2130	+0.081%	$114.7M	$71.5M	10x	as long as short
Aster ENAUSDTlong	+0.0100%	4h	0.2128	long leg	$1.5M	$3.0M	50x
Pacifica ENA	+0.0100%	1h	0.2127	−0.049%	$415K	$506K	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	0.2127	−0.028%	$130.4M	$419.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2127	−0.074%	$87.1M	$175.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2127	−0.050%	$20.9M	$103.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2118	−0.468%	$19K	$365K	5x	as long as short
Arcus ENA-USDshort	+0.0100%	1h	0.2128	−0.003%	$79K	$276K	10x
Bulk ENA-USD	+0.0100%	1h	0.2107	−1.008%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2127	−0.031%	$11.1M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2127	−0.050%	$46.0M	$42.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2129	+0.020%	$24.8M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2125	−0.139%	$48.4M	$57.6M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2127	−0.041%	—	$32.3M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2131	+0.138%	$378K	$364K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2118	−0.475%	$3.4M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2121	−0.355%	$245K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2122	−0.285%	$357K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2121	−0.332%	$22K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2130	+0.067%	$184K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2075	−2.475%	$1K	$841K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2127	−0.050%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2134	+0.298%	$279K	$780K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2127	−0.050%	$1.9M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2127	−0.041%	$48K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2126	−0.088%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2127	−0.051%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2122	−0.295%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0254% / S −0.0213%	1h	0.2127	−0.053%	$51K	—	100x	as long as short
dYdX ENA-USD	+0.0283%	1h	0.2127	−0.060%	$140K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0283%	1h	0.2128	−0.006%	$2.7M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2126	−0.102%	$5.6M	$3.1M	75x	as long as short
Lighter ENA	+0.0368%	1h	0.2129	+0.058%	$5.4M	$13.9M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2127	−0.053%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2122	−0.299%	$836K	$1.5M	50x	as long as short