Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.7478%/8h= +818.9% APRpaid last 24h +0.594%

Price spread now: dYdX against Aster+0.024%7-day average −0.079% · you sell dearer than you buy

Net, funding: paid 7d − costs−$710as in the Funding arb table

Net, price: spread back to 7d avg − costs−$783as in the Price arb table

costs, in and out, $10k−$7937.930% of the position

Long on Aster Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.827%+$83 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now +0.024%, 7d avg −0.079%

Together, before fees+0.839%+ Points / potential airdropAster: Stage 5 · farm board+$84 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$224 a day on $10k at the current rate, and dYdX is 0.103% dearer against Aster than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.079%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.827% in total (about 43.1% 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.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ENAUSDT	0.2099	0.0100	pay 0.0050% / 4h	2h 50m	$1.5M	$3.3M	50x
Short	dYdX ENA-USD	0.2099	0.7578	get 0.0947% / 1h	50m 00s	$139K	$12K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.024%Rate

Funding earned: $1,570.45
Price spread: +0.024% → −0.079%: $10.3
Slippage, 4 orders: −$775
Fee Aster: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: $787.75
Costs to cover: 7.930%
Break-even: 3.5 days

Slippage from Aster: live order book, 4 min ago; dYdX: live order book, 39 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, 4 min ago	3.09 bp	10.5 bp −$11	21.5 bp −$215	doesn't fit	doesn't fit
Sell dYdX live order book, 39 min ago	34.14 bp	451.0 bp −$451	841.6 bp −$8,416	1177.0 bp −$117.7K	1861.9 bp −$931.0K

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	−0.0446%	1h	0.2100	+0.057%	$361K	$487K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0095%	4h	0.2098	−0.043%	$41K	$24K	10x	as long as short
01 Exchange ENAUSD	−0.0072%	1h	0.2099	+0.034%	$4K	$432	10x	as long as short
Gate ENA_USDT	−0.0012%	4h	0.2098	−0.033%	$10.4M	$21.5M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2099	0.000%	$97K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2100	+0.045%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.177%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2103	+0.200%	$5K	$394K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2101	+0.119%	$5.7M	$13.1M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2098	−0.033%	$59K	$545K	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0100%	8h	0.2099	−0.004%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2099	+0.007%	$654K	$1.8M	10x	as long as short
Aster ENAUSDTlong	+0.0100%	4h	0.2099	long leg	$1.5M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2099	+0.024%	$403K	$604K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2099	0.000%	$130.1M	$472.9M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2098	−0.019%	$87.9M	$195.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2099	+0.014%	$20.1M	$115.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2103	+0.219%	$19K	$446K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2099	+0.014%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2100	+0.062%	$89K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2099	+0.010%	$45.2M	$48.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2099	+0.038%	$24.3M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2097	−0.057%	$47.5M	$67.1M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2098	−0.019%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2095	−0.188%	$3.6M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2102	+0.143%	$252K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2105	+0.281%	$356K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2101	+0.110%	$32K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2101	+0.091%	$183K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2049	−2.344%	$1K	$809K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2098	−0.033%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2101	+0.100%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2099	+0.014%	$1.8M	$9.3M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2101	+0.130%	$2.7M	$5.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2097	−0.084%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2098	−0.021%	$77K	$11K	3x	as long as short
Hyperliquid ENA	+0.0205%	1h	0.2102	+0.148%	$111.7M	$80.8M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0211% / S −0.0159%	1h	0.2099	+0.029%	$50K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2096	−0.119%	$5.6M	$8.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2099	+0.027%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2101	+0.100%	$802K	$2.2M	50x	as long as short
dYdX ENA-USDshort	+0.7578%	1h	0.2099	+0.024%	$139K	$12K	5x