Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.022%

Price spread now: Extended against Bitget−0.002%7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$330.334% of the position

Long on Bitget Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.059%+$6 on $10k

Price spread, last 7 days+0.026%+$3 · spread now −0.002%, 7d avg +0.028%

Together, before fees+0.084%+ Points / potential airdropExtended: Active · farm board+$8 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: Extended is 0.030% cheaper against Bitget than usual: you would sell low and buy high, −$3 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	0.2123	0.0100	pay 0.0050% / 4h	1h 18m	$48.4M	$57.6M	75x
Short	Extended ENA-USD	0.2123	0.0104	get 0.0013% / 1h	18m 07s	$1.6M	$4.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.002%Rate

Funding earned: $0.84
Price spread: −0.002% → +0.028%: −$3
Slippage, 4 orders: −$16.36
Fee Bitget: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$35.52
Costs to cover: 0.334%
Break-even: 303.0 days

Slippage from Bitget: live order book, 1 min ago; Extended: live order book, 6 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, 1 min ago	0.94 bp	12.5 bp −$13	17.6 bp −$176	44.9 bp −$4,492	doesn't fit
Sell Extended live order book, 6 min ago	0.24 bp	4.9 bp −$5	10.7 bp −$107	doesn't fit	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	−0.0022%	4h	0.2124	+0.028%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2124	+0.038%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2124	+0.057%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2129	+0.273%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.009%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2128	+0.226%	$55K	$497K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2126	+0.153%	$667K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2128	+0.207%	$114.5M	$71.6M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2129	+0.253%	$1.5M	$3.0M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2128	+0.228%	$416K	$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	0.2125	+0.094%	$130.2M	$418.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2125	+0.071%	$87.0M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2125	+0.108%	$20.9M	$102.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2118	−0.240%	$19K	$365K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2128	+0.226%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	−0.781%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2125	+0.099%	$11.1M	$21.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2125	+0.080%	$46.0M	$42.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2126	+0.122%	$24.7M	$15.6M	75x	as long as short
Bitget ENAUSDTlong	+0.0100%	4h	0.2123	long leg	$48.4M	$57.6M	75x
BingX ENA-USDT	+0.0100%	4h	0.2125	+0.099%	—	$32.2M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2126	+0.137%	$377K	$364K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2118	−0.247%	$3.4M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2121	−0.126%	$245K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2122	−0.057%	$357K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2121	−0.104%	$22K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2128	+0.221%	$184K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2076	−2.237%	$1K	$840K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2124	+0.038%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.268%	$278K	$780K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2124	+0.038%	$1.9M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2128	+0.208%	$48K	$110	10x	as long as short
Extended ENA-USDshort	+0.0104%	1h	0.2123	−0.002%	$1.6M	$4.1M	50x
Aevo ENA-PERP	+0.0104%	1h	0.2124	+0.034%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2122	−0.066%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2124	+0.023%	$51K	—	100x	as long as short
dYdX ENA-USD	+0.0276%	1h	0.2126	+0.147%	$140K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0284%	1h	0.2125	+0.100%	$2.7M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2126	+0.127%	$5.6M	$3.1M	75x	as long as short
Lighter ENA	+0.0360%	1h	0.2127	+0.165%	$5.4M	$13.9M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2127	+0.168%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2122	−0.071%	$836K	$1.5M	50x	as long as short