Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.055%

Price spread now: Popdex against Aster+0.018%7-day average −0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$360.363% of the position

Long on Aster Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.121%−$12 on $10k

Price spread, last 4 days (all we have)−0.206%−$21 · spread now +0.018%, 7d avg −0.074%

Together, before fees−0.326%+ Points / potential airdropAster: Stage 5 · farm board−$33 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: Popdex is 0.093% dearer against Aster than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.074%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ENAUSDT	0.2116	0.0100	pay 0.0050% / 4h	30m 03s	$1.5M	$3.3M	50x
Short	Popdex ENAUSDT	0.2116	0.0096	get 0.0012% / 1h	30m 03s	$63K	$521K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.018%Rate

Funding earned: −$0.84
Price spread: +0.018% → −0.074%: $9.28
Slippage, 4 orders: −$21.87
Fee Aster: 4 bp × 2 orders: −$8
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$27.83
Costs to cover: 0.363%
Break-even: never at this rate

Slippage from Aster: live order book, 4 min ago; Popdex: live order book, 49 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	2.59 bp	11.2 bp −$11	18.5 bp −$185	doesn't fit	doesn't fit
Sell Popdex live order book, 49 min ago	1.19 bp	7.3 bp −$7	57.3 bp −$573	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	−0.0015%	4h	0.2115	−0.029%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2116	+0.014%	$92K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2116	+0.020%	$106K	—	150x	as long as short
Backpack ENA_USDC_PERP	+0.0033%	1h	0.2115	−0.010%	$373K	$446K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.368%	$522	$57K	5.5x	as long as short
Popdex ENAUSDTshort	+0.0096%	1h	0.2116	+0.018%	$63K	$521K	50x
Nado ENA-PERP	+0.0100%	1h	0.2116	+0.040%	$678K	$1.8M	10x	as long as short
Aster ENAUSDTlong	+0.0100%	4h	0.2116	long leg	$1.5M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2116	+0.041%	$410K	$564K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2115	−0.034%	$130.8M	$453.0M	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	0.2114	−0.071%	$88.8M	$189.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2115	−0.043%	$20.5M	$110.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2124	+0.406%	$15K	$395K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2118	+0.113%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	+0.042%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2115	−0.043%	$10.8M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2115	−0.043%	$46.5M	$45.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2115	−0.010%	$24.5M	$16.3M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2113	−0.114%	$47.9M	$64.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2114	−0.071%	—	$32.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2119	+0.165%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2123	+0.332%	$252K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	+0.388%	$361K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2124	+0.396%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2117	+0.051%	$178K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2065	−2.397%	$1K	$824K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2114	−0.076%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2120	+0.198%	$277K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2115	−0.029%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2116	+0.014%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2116	+0.006%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2124	+0.420%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0192%	1h	0.2118	+0.118%	$4K	$302	10x	as long as short
Extended ENA-USD	+0.0232%	1h	0.2114	−0.068%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0241%	1h	0.2116	+0.011%	$2.7M	$5.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2116	−0.004%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2117	+0.084%	$5.6M	$7.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2116	+0.008%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0520%	1h	0.2117	+0.061%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2132	+0.760%	$842K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0784%	1h	0.2118	+0.118%	$113.8M	$78.8M	10x	as long as short
dYdX ENA-USD	+0.1735%	1h	0.2117	+0.082%	$140K	$15K	5x	as long as short