Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0312%/8h= +34.2% APRpaid last 24h +0.103%

Price spread now: Reya against Bitget+0.033%7-day average — · you sell dearer than you buy

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

Long on Bitget 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 0.033% dearer against Bitget than usual: you sell high and buy low: +$3 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	Bitget ENAUSDT	0.2126	0.0100	pay 0.0050% / 4h	27m 29s	$48.2M	$64.0M	75x
Short	Reya ENARUSDPERP	0.2127	0.0412	get 0.0051% / 1h	27m 29s	$1K	$5K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.033%Rate

Funding earned: $65.5
Price spread: +0.033% → 0.000%: $3.25
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $50.75
Costs to cover: 0.180%
Break-even: 1.6 days

Slippage unknown: Bitget: live order book, 2 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 Bitget live order book, 2 min ago	0.94 bp	10.9 bp −$11	16.7 bp −$167	38.9 bp −$3,888	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
Orderly PERP_ENA_USDC	−0.0012%	4h	0.2129	+0.118%	$41K	$24K	10x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2125	−0.032%	$106K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.122%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0042%	1h	0.2129	+0.118%	$376K	$445K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	+0.0079%	1h	0.2130	+0.183%	$93K	$1.7M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2125	−0.047%	$61K	$521K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2126	+0.009%	$681K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2126	+0.019%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2125	−0.047%	$411K	$562K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2126	+0.003%	$131.5M	$452.8M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2127	+0.033%	$89.3M	$189.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2127	+0.071%	$20.6M	$111.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2123	−0.160%	$15K	$405K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2125	−0.047%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.447%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2125	−0.047%	$10.9M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2125	−0.028%	$46.7M	$45.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2128	+0.080%	$24.6M	$16.4M	75x	as long as short
Bitget ENAUSDTlong	+0.0100%	4h	0.2126	long leg	$48.2M	$64.0M	75x
BingX ENA-USDT	+0.0100%	4h	0.2124	−0.080%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2119	−0.324%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2116	−0.469%	$252K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2120	−0.283%	$361K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	−0.376%	$32K	$709K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2128	+0.080%	$179K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2074	−2.451%	$956	$825K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2129	+0.141%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2134	+0.395%	$278K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2127	+0.047%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2125	−0.053%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2129	+0.129%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2118	−0.376%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0192%	1h	0.2126	+0.019%	$4K	$302	10x	as long as short
Extended ENA-USD	+0.0224%	1h	0.2124	−0.085%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2130	+0.209%	$2.7M	$5.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2125	−0.047%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2118	−0.390%	$5.6M	$6.5M	75x	as long as short
Reya ENARUSDPERPshort	+0.0412%	1h	0.2127	+0.033%	$1K	$5K	15x
Lighter ENA	+0.0544%	1h	0.2127	+0.061%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2132	+0.268%	$842K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0777%	1h	0.2130	+0.181%	$114.6M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1734%	1h	0.2126	−0.012%	$140K	$15K	5x	as long as short