Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.008%

Price spread now: Bybit against Bitget−0.014%7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$450.449% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.056%−$6 on $10k

Price spread, last 7 days+0.042%+$4 · spread now −0.014%, 7d avg +0.028%

Together, before fees−0.014%−$1 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: Bybit is 0.042% cheaper against Bitget than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ENAUSDT	0.2118	0.0100	pay 0.0050% / 4h	1h 20m	$48.2M	$57.7M	75x
Short	Bybit ENAUSDT	0.2118	0.0100	get 0.0050% / 4h	1h 20m	$86.7M	$175.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now −0.014%Rate

Funding earned: $0
Price spread: −0.014% → +0.028%: −$4.21
Slippage, 4 orders: −$21.95
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$49.15
Costs to cover: 0.449%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Bybit: live order book, 4 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 Bitget live order book, 3 min ago	0.71 bp	10.6 bp −$11	18.3 bp −$183	35.2 bp −$3,523	doesn't fit
Sell Bybit live order book, 4 min ago	0.24 bp	10.2 bp −$10	17.1 bp −$171	65.2 bp −$6,519	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	−0.0019%	4h	0.2119	+0.028%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2119	+0.052%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2119	+0.060%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0016%	1h	0.2117	−0.024%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.260%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2117	−0.042%	$56K	$497K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2122	+0.201%	$666K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2120	+0.090%	$113.9M	$71.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2121	+0.161%	$1.5M	$3.0M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2119	+0.045%	$414K	$506K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2119	+0.061%	$129.9M	$419.0M	75x	as long as short
Bybit ENAUSDTshort	+0.0100%	4h	0.2118	−0.014%	$86.7M	$175.5M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2117	−0.024%	$20.8M	$102.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2118	+0.009%	$19K	$365K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2118	+0.005%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	−0.533%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2119	+0.038%	$11.1M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2119	+0.057%	$45.8M	$42.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2120	+0.104%	$24.7M	$15.6M	75x	as long as short
Bitget ENAUSDTlong	+0.0100%	4h	0.2118	long leg	$48.2M	$57.7M	75x
BingX ENA-USDT	+0.0100%	4h	0.2117	−0.024%	—	$32.3M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2121	+0.137%	$375K	$363K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2118	+0.003%	$3.4M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2106	−0.577%	$242K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2122	+0.194%	$357K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2122	+0.194%	$22K	$652K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2122	+0.208%	$184K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2068	−2.351%	$1K	$841K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2119	+0.052%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2126	+0.364%	$278K	$781K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2120	+0.099%	$1.8M	$8.8M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2117	−0.021%	$47K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2116	−0.103%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2119	+0.063%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2122	+0.184%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2119	+0.053%	$51K	—	100x	as long as short
dYdX ENA-USD	+0.0267%	1h	0.2118	−0.013%	$140K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0284%	1h	0.2120	+0.109%	$2.7M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2119	+0.076%	$5.6M	$3.1M	75x	as long as short
Lighter ENA	+0.0384%	1h	0.2119	+0.038%	$5.3M	$13.8M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2121	+0.144%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2114	−0.189%	$831K	$1.5M	50x	as long as short