Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0312%/8h= +34.1% APRpaid last 24h +0.093%

Price spread now: Reya against BingX+0.043%7-day average — · you sell dearer than you buy

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

Long on BingX 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

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Reya is 0.043% dearer against BingX than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ENA-USDC	0.2139	0.0100	pay 0.0050% / 4h	2h 27m	—	$6.5M	—
Short	Reya ENARUSDPERP	0.2140	0.0412	get 0.0051% / 1h	27m 56s	$1K	$5K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against BingX. 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 BingXbpFee ReyabpOrdersPrice spread, now +0.043%Rate

Funding earned: $65.48
Price spread: +0.043% → 0.000%: $4.25
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $53.73
Costs to cover: 0.160%
Break-even: 1.3 days

Slippage unknown: BingX: live order book, 3 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 BingX live order book, 3 min ago	0.70 bp	10.2 bp −$10	28.2 bp −$282	72.6 bp −$7,265	449.0 bp −$224.5K
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 41 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	0.2140	+0.042%	$80K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2139	−0.005%	$92K	—	150x	as long as short
dYdX ENA-USD	+0.0016%	1h	0.2145	+0.292%	$142K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.711%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0039%	4h	0.2139	0.000%	$44K	$28K	10x	as long as short
01 Exchange ENAUSD	+0.0080%	1h	0.2141	+0.098%	$4K	$302	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2141	+0.112%	$56K	$521K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2142	+0.180%	$695K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2140	+0.065%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2144	+0.260%	$420K	$544K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2141	+0.123%	$132.7M	$445.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2141	+0.122%	$88.0M	$187.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2140	+0.089%	$21.1M	$109.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2128	−0.500%	$19K	$411K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2144	+0.253%	$117K	$251K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2105	−1.559%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2138	−0.028%	$11.1M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2141	+0.122%	$45.6M	$44.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2142	+0.173%	$24.8M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2140	+0.075%	$48.7M	$61.2M	75x	as long as short
BingX ENA-USDClong	+0.0100%	4h	0.2139	long leg	—	$6.5M	—
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2139	+0.033%	$383K	$398K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2140	+0.052%	$3.8M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2140	+0.081%	$246K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2127	−0.520%	$353K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2142	+0.159%	$32K	$656K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2142	+0.178%	$210K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2088	−2.385%	$1K	$851K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2139	+0.019%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2144	+0.229%	$276K	$952K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2139	+0.019%	$1.9M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2145	+0.285%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2140	+0.049%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2147	+0.407%	$8K	$351K	10x	as long as short
Extended ENA-USD	+0.0240%	1h	0.2141	+0.096%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0249%	1h	0.2139	+0.027%	$2.7M	$4.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2139	+0.015%	$51K	—	100x	as long as short
Lighter ENA	+0.0376%	1h	0.2141	+0.112%	$5.6M	$13.7M	10x	as long as short
Reya ENARUSDPERPshort	+0.0412%	1h	0.2140	+0.043%	$1K	$5K	15x
Hyperliquid ENA	+0.0525%	1h	0.2142	+0.173%	$115.9M	$73.2M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2140	+0.075%	$838K	$1.8M	50x	as long as short