Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0312%/8h= +34.2% APRpaid last 24h +0.038%

Price spread now: Reya against Aster−0.160%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 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 · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.160% cheaper against Aster than usual: you would sell low and buy high (spread −0.160% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 41 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ENAUSDT	0.2093	0.0100	pay 0.0050% / 4h	1h 53m	$1.5M	$3.3M	50x
Short	Reya ENARUSDPERP	0.2090	0.0412	get 0.0051% / 1h	53m 23s	$1K	$5K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.160%Rate

Funding earned: $65.51
Price spread: −0.160% → 0.000%: −$15.97
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: $35.54
Costs to cover: 0.140%
Break-even: 3.2 days

Slippage unknown: Aster: live order book, 5 min ago; Reya: 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, 5 min ago	0.24 bp	13.7 bp −$14	22.4 bp −$224	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
Orderly PERP_ENA_USDC	−0.0078%	4h	0.2090	−0.121%	$40K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2091	−0.088%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2091	−0.108%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.455%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0064%	1h	0.2091	−0.088%	$4K	$432	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2091	−0.104%	$2.6M	$5.6M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0071%	1h	0.2091	−0.088%	$361K	$485K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2091	−0.093%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2091	−0.098%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2091	−0.078%	$656K	$1.8M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDTlong	+0.0100%	4h	0.2093	long leg	$1.5M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2092	−0.044%	$405K	$587K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2090	−0.117%	$128.6M	$464.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2090	−0.126%	$86.9M	$193.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2091	−0.116%	$20.2M	$113.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2098	+0.256%	$20K	$414K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2091	−0.093%	$82K	$223K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2090	−0.131%	$10.4M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2091	−0.093%	$45.0M	$46.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2092	−0.050%	$23.9M	$16.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2089	−0.179%	$47.3M	$65.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2090	−0.121%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2093	+0.006%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2096	+0.151%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2096	+0.163%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2097	+0.194%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2092	−0.069%	$189K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2040	−2.534%	$1K	$814K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2091	−0.093%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2094	+0.046%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2089	−0.188%	$1.9M	$9.2M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2083	−0.452%	$88K	$2K	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2091	−0.093%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2092	−0.026%	$5K	$356K	10x	as long as short
Extended ENA-USD	+0.0208%	1h	0.2090	−0.127%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0218% / S −0.0357%	1h	0.2090	−0.130%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2090	−0.155%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERPshort	+0.0412%	1h	0.2090	−0.160%	$1K	$5K	15x
Lighter ENA	+0.0520%	1h	0.2094	+0.056%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0533%	1h	0.2094	+0.047%	$110.3M	$79.7M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2094	+0.065%	$801K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1807%	1h	0.2091	−0.079%	$138K	$15K	5x	as long as short