Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.011%

Price spread now: edgeX against Bitget−0.035%74s7-day average +0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$450.446% of the position

Long on Bitget Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 7 days+0.030%+$3 · spread now −0.035%, 7d avg +0.042%

Together, before fees+0.047%+ Points / potential airdropedgeX: Active · farm board+$5 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: edgeX is 0.077% cheaper against Bitget than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.042%. The two prices were read 74 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ENAUSDT	0.2099	0.0100	pay 0.0050% / 4h	1h 40m	$47.6M	$65.2M	75x
Short	edgeX ENAUSDC	0.2098	0.0100	get 0.0050% / 4h	1h 40m	$249K	$7.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.035%Rate

Funding earned: $0
Price spread: −0.035% → +0.042%: −$7.7
Slippage, 4 orders: −$23.55
Fee Bitget: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$52.25
Costs to cover: 0.446%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; edgeX: 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, 4 min ago	0.72 bp	11.3 bp −$11	17.9 bp −$179	32.4 bp −$3,239	doesn't fit
Sell edgeX live order book, 4 min ago	7.15 bp	11.7 bp −$12	13.2 bp −$132	44.5 bp −$4,453	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	−0.0067%	4h	0.2099	+0.038%	$41K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0045%	1h	0.2099	0.000%	$362K	$481K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2100	+0.076%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2100	+0.058%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.182%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2100	+0.055%	$2.6M	$5.6M	50x	as long as short
01 Exchange ENAUSD	+0.0096%	1h	0.2099	−0.005%	$4K	$432	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2097	−0.076%	$59K	$537K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2097	−0.081%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2097	−0.091%	$659K	$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 ENAUSDT	+0.0100%	4h	0.2099	+0.030%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2098	−0.039%	$406K	$582K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2100	+0.049%	$129.4M	$460.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2099	+0.029%	$87.3M	$191.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2100	+0.081%	$20.3M	$112.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2098	−0.024%	$21K	$415K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2098	−0.029%	$82K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	−0.036%	$88K	$1K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2099	+0.033%	$10.5M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2099	+0.033%	$45.0M	$46.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2100	+0.081%	$24.0M	$16.5M	75x	as long as short
Bitget ENAUSDTlong	+0.0100%	4h	0.2099	long leg	$47.6M	$65.2M	75x
BingX ENA-USDC	+0.0100%	4h	0.2099	+0.038%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2096	−0.114%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDCshort	+0.0100%	4h	0.2098	−0.035%	$249K	$7.8M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2095	−0.166%	$354K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2096	−0.124%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2098	−0.010%	$188K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2047	−2.473%	$958	$814K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2100	+0.067%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2107	+0.396%	$275K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2097	−0.076%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2095	−0.170%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2099	+0.019%	$5K	$356K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0226% / S −0.0377%	1h	0.2100	+0.070%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0288%	1h	0.2099	+0.033%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2097	−0.071%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2098	−0.048%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0488%	1h	0.2100	+0.071%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0569%	1h	0.2101	+0.133%	$111.0M	$80.0M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2102	+0.148%	$803K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1904%	1h	0.2098	−0.051%	$139K	$15K	5x	as long as short