Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0175%/8h= −19.1% APRpaid last 24h +0.611%

Price spread now: dYdX against BloFin+0.477%92s7-day average −0.105% · you sell dearer than you buy

Net, funding: paid 7d − costs−$669as 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−$7297.289% of the position

Long on BloFin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.601%+$60 on $10k

Price spread, last 3 days (all we have)−0.720%−$72 · spread now +0.477%, 7d avg −0.105%

Together, before fees−0.119%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.582% dearer against BloFin than usual: you sell high and buy low (spread +0.477% now, against its 7-day average of −0.105%): +$58 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 11 days. Mind the row above: over the last 7 days funding on this pair paid +0.601%, so the current rate has only just turned against you. The two prices were read 92 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	BloFin ENA-USDT	0.2158	0.0340	pay 0.0170% / 4h	3h 09m	$5.7M	$2.0M	75x
Short	dYdX ENA-USD	0.2169	0.0165	get 0.0021% / 1h	9m 38s	$143K	$15K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against BloFin. 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 BloFinbpFee dYdXbpOrdersPrice spread, now +0.477%Rate

Funding earned: −$36.68
Price spread: +0.477% → −0.105%: $58.25
Slippage, 4 orders: −$706.92
Fee BloFin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$707.35
Costs to cover: 7.289%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; dYdX: live order book, 64 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 BloFin live order book, 4 min ago	2.78 bp	11.8 bp −$12	22.2 bp −$222	doesn't fit	doesn't fit
Sell dYdX live order book, 64 min ago	195.88 bp	352.0 bp −$352	615.6 bp −$6,156	781.5 bp −$78.1K	1519.3 bp −$759.6K

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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2167	+0.398%	$81K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2168	+0.423%	$104K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0032%	4h	0.2167	+0.389%	$42K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.626%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2169	+0.486%	$53K	$524K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2167	+0.405%	$716K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2170	+0.518%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2169	+0.487%	$427K	$550K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2170	+0.516%	$135.4M	$441.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2170	+0.524%	$89.3M	$186.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2170	+0.519%	$21.4M	$110.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2159	+0.014%	$16K	$413K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2170	+0.533%	$108K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2150	−0.390%	$94K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2169	+0.477%	$11.1M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2170	+0.519%	$45.9M	$44.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2170	+0.542%	$25.0M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2168	+0.454%	$49.1M	$61.1M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2169	+0.500%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2168	+0.426%	$385K	$385K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2158	−0.037%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2159	+0.013%	$248K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2161	+0.116%	$366K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2158	−0.023%	$33K	$685K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2168	+0.440%	$181K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2117	−1.913%	$1K	$833K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2165	+0.301%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2170	+0.537%	$281K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2166	+0.347%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2169	+0.504%	$49K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2168	+0.424%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2162	+0.158%	$8K	$347K	10x	as long as short
dYdX ENA-USDshort	+0.0165%	1h	0.2169	+0.477%	$143K	$15K	5x
01 Exchange ENAUSD	+0.0176%	1h	0.2169	+0.482%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0231%	1h	0.2167	+0.373%	$2.7M	$5.1M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0334% / S −0.0430%	1h	0.2168	+0.430%	$82K	—	100x	as long as short
BloFin ENA-USDTlong	+0.0340%	4h	0.2158	long leg	$5.7M	$2.0M	75x
Extended ENA-USD	+0.0344%	1h	0.2169	+0.491%	$1.6M	$4.2M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2167	+0.415%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2160	+0.088%	$854K	$1.8M	50x	as long as short
Lighter ENA	+0.0768%	1h	0.2172	+0.635%	$6.0M	$13.1M	10x	as long as short
Hyperliquid ENA	+0.0792%	1h	0.2172	+0.630%	$118.3M	$73.7M	10x	as long as short