Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0312%/8h= +34.1% APRpaid last 24h +0.093%

Price spread now: Reya against Binance−0.041%7-day average — · you buy dearer than you sell

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

Long on Binance 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 airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.041% cheaper against Binance than usual: you would sell low and buy high (spread −0.041% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 10 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	Binance ENAUSDT	0.2159	0.0100	pay 0.0050% / 4h	3h 12m	$134.8M	$442.6M	75x
Short	Reya ENARUSDPERP	0.2158	0.0412	get 0.0051% / 1h	12m 29s	$1K	$5K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Binance. 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 BinancebpFee ReyabpOrdersPrice spread, now −0.041%Rate

Funding earned: $65.48
Price spread: −0.041% → 0.000%: −$4.09
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $45.39
Costs to cover: 0.160%
Break-even: 2.1 days

Slippage unknown: Binance: live order book, 16 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 Binance live order book, 16 min ago	0.23 bp	7.3 bp −$7	15.2 bp −$152	58.5 bp −$5,853	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2160	+0.074%	$81K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2159	+0.029%	$104K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0032%	4h	0.2159	+0.014%	$42K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.635%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0090%	1h	0.2158	−0.036%	$143K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2158	−0.032%	$52K	$528K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2159	−0.007%	$714K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2160	+0.068%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2159	+0.004%	$425K	$553K	10x	as long as short
Binance ENAUSDTlong	+0.0100%	4h	0.2159	long leg	$134.8M	$442.6M	75x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2158	−0.014%	$88.9M	$187.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2159	0.000%	$21.2M	$110.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2159	+0.005%	$16K	$413K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2159	+0.014%	$107K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2150	−0.399%	$94K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2159	−0.005%	$11.0M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2158	−0.023%	$46.0M	$44.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2160	+0.060%	$24.8M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2157	−0.060%	$48.9M	$61.3M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2159	0.000%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2162	+0.144%	$384K	$398K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2157	−0.069%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2159	+0.001%	$250K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2159	+0.014%	$366K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2159	+0.014%	$33K	$686K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2159	+0.019%	$180K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2109	−2.279%	$1K	$834K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2161	+0.107%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2163	+0.199%	$280K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2160	+0.060%	$2.0M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2159	−0.008%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2160	+0.070%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2162	+0.148%	$8K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0176%	1h	0.2159	+0.028%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0231%	1h	0.2162	+0.158%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0328%	1h	0.2158	−0.020%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0334% / S −0.0430%	1h	0.2160	+0.052%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2160	+0.083%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERPshort	+0.0412%	1h	0.2158	−0.041%	$1K	$5K	15x
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2165	+0.283%	$857K	$1.8M	50x	as long as short
Lighter ENA	+0.0736%	1h	0.2162	+0.134%	$5.9M	$13.1M	10x	as long as short
Hyperliquid ENA	+0.0781%	1h	0.2162	+0.175%	$117.6M	$74.8M	10x	as long as short