Settings8H · net · $10k
Funding arb · Price arb /

ENA

all ENA markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 02:00 UTC+0.0564%/8h= +61.8% APRpaid last 24h +0.085%
Price spread now: Coinbase International against Aster+0.207%7-day average +0.098% · you sell dearer than you buy
Net, funding: paid 7d − costs−$29as in the Funding arb table
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$640.641% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.350%+$35 on $10k
Price spread, last 4 days (all we have)+0.027%+$3 · spread now +0.207%, 7d avg +0.098%
Together, before fees+0.377%+ Points / potential airdropAster: Stage 5 · farm board+$38 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Coinbase International is 0.109% dearer against Aster than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.098%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.350% in total (about 18.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongAster ENAUSDT0.21130.0100pay 0.0050% / 4h1h 44m$1.5M$3.3M50x
ShortCoinbase International ENA-PERP-INTX0.21170.0664get 0.0083% / 1h44m 05s$833K$1.5M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Coinbase International 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

Funding earned
$118.44
Price spread: +0.207% → +0.098%
$10.88
Slippage, 4 orders
−$46.05
Fee Aster: 4 bp × 2 orders
−$8
Fee Coinbase International: 5 bp × 2 orders
−$10
Net
$65.27
Costs to cover
0.641%
Break-even
3.1 days
Slippage from Aster: live order book, 5 min ago; Coinbase International: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Aster live order book, 5 min ago3.31 bp8.8 bp −$920.9 bp −$209doesn't fitdoesn't fit
Sell Coinbase International live order book, 4 min ago9.45 bp22.2 bp −$2225.0 bp −$250doesn't fitdoesn't fit

ENA on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Deribit ENA_USDC-PERPETUAL0.0000%1h0.2114+0.037%$79K$1.3M50xas long as short
gTrade (Gains Network) ENA/USDL +0.0004% / S −0.0004%1h0.2112−0.022%$82K150xas long as short
Orderly PERP_ENA_USDC+0.0011%4h0.2112−0.039%$44K$27K10xas long as short
01 Exchange ENAUSD+0.0024%1h0.2112−0.044%$4K$30210xas long as short
Injective ENA/USDC PERP+0.0033%1h0.2123+0.496%$522$57K5.5xas long as short
Popdex ENAUSDT+0.0096%1h0.2111−0.091%$54K$500K50xas long as short
Nado ENA-PERP+0.0100%1h0.2112−0.044%$682K$1.7M10xas long as short
Hyperliquid ENA+0.0100%1h0.2114+0.037%$113.6M$71.3M10xas long as short
Aster ENAUSDTlong+0.0100%4h0.2113long leg$1.5M$3.3M50x
Pacifica ENA+0.0100%1h0.2114+0.028%$413K$516K10xas long as short
Show all 42 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Binance ENAUSDT+0.0100%4h0.2110−0.120%$129.8M$425.2M75xas long as short
Bybit ENAUSDT+0.0100%4h0.2110−0.134%$86.6M$177.0M50xas long as short
OKX ENA-USDT-SWAP+0.0100%4h0.2111−0.082%$20.8M$103.2M50xas long as short
Ondo Perps ENA-USD.P+0.0100%1h0.2107−0.295%$19K$375K5xas long as short
Arcus ENA-USD+0.0100%1h0.2113+0.003%$78K$288K10xas long as short
Bulk ENA-USD+0.0100%1h0.2113+0.003%$93K$4K10xas long as short
Gate ENA_USDT+0.0100%4h0.2112−0.049%$11.0M$21.2M50xas long as short
MEXC ENA_USDT+0.0100%4h0.2112−0.039%$45.5M$41.8M200xas long as short
KuCoin ENAUSDTM+0.0100%4h0.2113−0.006%$24.6M$15.7M75xas long as short
Bitget ENAUSDT+0.0100%4h0.2111−0.105%$48.1M$58.2M75xas long as short
BingX ENA-USDC+0.0100%4h0.2112−0.044%$6.5Mas long as short
Backpack ENA_USDC_PERP+0.0100%1h0.2113−0.001%$374K$364K5xas long as short
Variational Omni ENA+0.0100%4h0.2110−0.140%$3.6M$10.1Mas long as short
edgeX ENAUSDC+0.0100%4h0.2108−0.220%$245K$7.4M20xas long as short
GRVT ENA_USDT_Perp+0.0100%4h0.2109−0.203%$350K$4.8M10xas long as short
ApeX Omni ENAUSDT+0.0100%1h0.2111−0.091%$32K$647K50xas long as short
Polymarket Perps ENA-USD+0.0100%1h0.2113+0.022%$184K$2.3M10xas long as short
SunX ENA-USDT+0.0100%4h0.2063−2.368%$1K$842K20xas long as short
SoDEX ENA-USD+0.0100%1h0.2112−0.044%$4K$7K10xas long as short
HTX ENA-USDT+0.0100%4h0.2117+0.193%$277K$785K50xas long as short
Phemex ENAUSDT+0.0100%4h0.2112−0.044%$1.9M$8.9M50xas long as short
Paradex ENA-USD-PERP+0.0100%8h0.2113−0.004%$47K$11010xas long as short
Aevo ENA-PERP+0.0104%1h0.2113−0.006%$74K$4K3xas long as short
Extended ENA-USD+0.0128%1h0.2111−0.113%$1.6M$4.1M50xas long as short
dYdX ENA-USD+0.0129%1h0.2115+0.104%$140K$15K5xas long as short
Phoenix ENA+0.0150%1h0.2109−0.167%$8K$298K10xas long as short
GMX ENA/USD [ETH-USDC]L +0.0251% / S −0.0206%1h0.2112−0.039%$50K100xas long as short
Kraken Futures PF_ENAUSD+0.0285%1h0.2113+0.010%$2.6M$4.3M50xas long as short
BloFin ENA-USDT+0.0340%4h0.2115+0.079%$5.7M$3.1M75xas long as short
Lighter ENA+0.0352%1h0.2114+0.060%$5.5M$13.6M10xas long as short
Reya ENARUSDPERP+0.0412%1h0.2113−0.014%$1K$5K15xas long as short
Coinbase International ENA-PERP-INTXshort+0.0664%1h0.2117+0.207%$833K$1.5M50x