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: Bulk against Aster+0.328%7-day average — · you sell dearer than you buy

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

Long on Aster Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.328% dearer against Aster than usual: you sell high and buy low, +$33 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	Aster ENAUSDT	0.2110	0.0100	pay 0.0050% / 4h	1h 45m	$1.5M	$3.3M	50x
Short	Bulk ENA-USD	0.2117	0.0100	get 0.0013% / 1h	45m 50s	$93K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now +0.328%Rate

Funding earned: $0
Price spread: +0.328% → 0.000%: $32.83
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $17.83
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Aster: live order book, 3 min ago; Bulk: no order-book sample. 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 Aster live order book, 3 min ago	3.31 bp	8.8 bp −$9	20.9 bp −$209	doesn't fit	doesn't fit
Sell Bulk no order-book sample	—	—	—	—	—

Bulk: 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	0.2111	+0.044%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2110	−0.007%	$82K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0015%	4h	0.2109	−0.065%	$44K	$27K	10x	as long as short
01 Exchange ENAUSD	+0.0032%	1h	0.2107	−0.127%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.632%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2108	−0.098%	$54K	$500K	50x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2111	+0.058%	$113.5M	$71.3M	10x	as long as short
Aster ENAUSDTlong	+0.0100%	4h	0.2110	long leg	$1.5M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2105	−0.231%	$411K	$516K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2109	−0.070%	$129.7M	$425.9M	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	0.2108	−0.089%	$86.4M	$177.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2109	−0.046%	$20.7M	$103.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2107	−0.160%	$19K	$381K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2106	−0.193%	$78K	$288K	10x	as long as short
Bulk ENA-USDshort	+0.0100%	1h	0.2117	+0.328%	$93K	$4K	10x
Gate ENA_USDT	+0.0100%	4h	0.2108	−0.084%	$11.0M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2109	−0.065%	$45.5M	$41.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2110	−0.018%	$24.5M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2107	−0.146%	$48.0M	$58.3M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2108	−0.089%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2110	−0.004%	$3.6M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2112	+0.103%	$245K	$7.4M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2120	+0.470%	$358K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2111	+0.044%	$32K	$647K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2110	−0.020%	$681K	$1.7M	10x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2110	−0.013%	$191K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2060	−2.392%	$1K	$842K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2109	−0.051%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	+0.309%	$276K	$785K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2110	−0.003%	$1.9M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2105	−0.217%	$47K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2110	−0.003%	$74K	$4K	3x	as long as short
Backpack ENA_USDC_PERP	+0.0117%	1h	0.2111	+0.053%	$374K	$364K	5x	as long as short
Extended ENA-USD	+0.0144%	1h	0.2109	−0.072%	$1.6M	$4.1M	50x	as long as short
dYdX ENA-USD	+0.0148%	1h	0.2106	−0.216%	$139K	$15K	5x	as long as short
Phoenix ENA	+0.0150%	1h	0.2113	+0.158%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2111	+0.021%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0285%	1h	0.2111	+0.052%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0312%	1h	0.2112	+0.096%	$5.5M	$13.6M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2108	−0.094%	—	$3.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2109	−0.034%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2117	+0.314%	$832K	$1.5M	50x	as long as short