Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.061%

Price spread now: Phemex against Aster−0.063%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$610.609% of the position

Long on Aster Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.124%−$12 on $10k

Price spread, last 3 days (all we have)+0.815%+$81 · spread now −0.063%, 7d avg −0.015%

Together, before fees+0.691%+ Points / potential airdropAster: Stage 5 · farm board+$69 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: Phemex is 0.048% cheaper against Aster than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ENAUSDT	0.2098	0.0100	pay 0.0050% / 4h	2h 50m	$1.5M	$3.3M	50x
Short	Phemex ENAUSDT	0.2097	0.0100	get 0.0050% / 4h	2h 50m	$1.8M	$9.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.063%Rate

Funding earned: $0
Price spread: −0.063% → −0.015%: −$4.79
Slippage, 4 orders: −$40.86
Fee Aster: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$65.65
Costs to cover: 0.609%
Break-even: never at this rate

Slippage from Aster: live order book, 3 min ago; Phemex: 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 Aster live order book, 3 min ago	3.09 bp	10.5 bp −$11	21.5 bp −$215	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	7.14 bp	20.5 bp −$21	71.4 bp −$714	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
Backpack ENA_USDC_PERP	−0.0486%	1h	0.2098	−0.006%	$361K	$487K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0096%	4h	0.2096	−0.102%	$41K	$24K	10x	as long as short
01 Exchange ENAUSD	−0.0072%	1h	0.2099	+0.051%	$4K	$432	10x	as long as short
Gate ENA_USDT	−0.0012%	4h	0.2098	+0.003%	$10.4M	$21.5M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2098	−0.016%	$97K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2098	−0.016%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.195%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2103	+0.218%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2098	−0.016%	$59K	$545K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2099	+0.013%	$47K	$221	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2099	+0.025%	$654K	$1.8M	10x	as long as short
Aster ENAUSDTlong	+0.0100%	4h	0.2098	long leg	$1.5M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2099	+0.041%	$403K	$604K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2099	+0.041%	$130.1M	$472.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2100	+0.061%	$88.0M	$195.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2100	+0.094%	$20.2M	$115.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2103	+0.237%	$19K	$446K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2099	+0.032%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2100	+0.080%	$89K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2099	+0.027%	$45.2M	$48.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2100	+0.061%	$24.3M	$16.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2097	−0.040%	$47.5M	$67.1M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2098	+0.003%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2095	−0.170%	$3.6M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2102	+0.160%	$252K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2105	+0.299%	$356K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2101	+0.127%	$32K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2097	−0.049%	$183K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2048	−2.418%	$856	$809K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2096	−0.111%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2098	−0.006%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDTshort	+0.0100%	4h	0.2097	−0.063%	$1.8M	$9.3M	50x
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2099	+0.030%	$2.7M	$5.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2099	+0.014%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2097	−0.063%	$77K	$11K	3x	as long as short
Lighter ENA	+0.0120%	1h	0.2101	+0.137%	$5.7M	$13.1M	10x	as long as short
Hyperliquid ENA	+0.0201%	1h	0.2101	+0.127%	$111.6M	$80.7M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0211% / S −0.0159%	1h	0.2098	−0.037%	$50K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2096	−0.102%	$5.6M	$8.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2096	−0.104%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2104	+0.251%	$804K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.7578%	1h	0.2099	+0.041%	$139K	$12K	5x	as long as short