Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h −0.061%

Price spread now: Extended against BloFin+0.154%54s7-day average −0.132% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as 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−$400.401% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.394%−$39 on $10k

Price spread, last 3 days (all we have)−0.420%−$42 · spread now +0.154%, 7d avg −0.132%

Together, before fees−0.815%+ Points / potential airdropExtended: Active · farm board−$81 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.286% dearer against BloFin than usual: you sell high and buy low (spread +0.154% now, against its 7-day average of −0.132%): +$29 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 26 days. At the pace of the last 7 days (−0.394% in total) that is about 5.1 days. The two prices were read 54 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	0.2127	0.0340	pay 0.0170% / 4h	2h 50m	$5.7M	$2.0M	75x
Short	Extended ENA-USD	0.2130	0.0304	get 0.0038% / 1h	50m 18s	$1.6M	$4.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpOrdersPrice spread, now +0.154%Rate

Funding earned: −$7.56
Price spread: +0.154% → −0.132%: $28.62
Slippage, 4 orders: −$23.11
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$19.05
Costs to cover: 0.401%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Extended: 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 BloFin live order book, 3 min ago	6.59 bp	14.1 bp −$14	22.0 bp −$220	doesn't fit	doesn't fit
Sell Extended live order book, 4 min ago	0.24 bp	6.7 bp −$7	12.6 bp −$126	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2131	+0.212%	$79K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2129	+0.113%	$91K	—	150x	as long as short
01 Exchange ENAUSD	+0.0024%	1h	0.2127	+0.033%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.160%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0037%	4h	0.2130	+0.150%	$41K	$23K	10x	as long as short
dYdX ENA-USD	+0.0040%	1h	0.2126	−0.019%	$140K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2129	+0.103%	$53K	$526K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2129	+0.115%	$702K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2130	+0.150%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2127	+0.033%	$418K	$548K	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	0.2129	+0.095%	$132.5M	$444.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2129	+0.094%	$87.2M	$186.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2131	+0.212%	$21.2M	$109.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2124	−0.108%	$17K	$408K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2129	+0.103%	$116K	$253K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2127	+0.025%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2129	+0.089%	$10.8M	$20.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2130	+0.150%	$44.9M	$43.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2131	+0.183%	$24.6M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2129	+0.113%	$48.3M	$61.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2129	+0.118%	—	$32.7M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2127	+0.019%	$368K	$383K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2125	−0.074%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2121	−0.271%	$244K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	−0.125%	$356K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2126	−0.038%	$32K	$689K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2130	+0.136%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2079	−2.257%	$1K	$844K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2131	+0.197%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2136	+0.418%	$275K	$1.0M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2132	+0.244%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2128	+0.047%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2131	+0.183%	$75K	$4K	3x	as long as short
Lighter ENA	+0.0176%	1h	0.2129	+0.113%	$5.5M	$13.6M	10x	as long as short
Phoenix ENA	+0.0188%	1h	0.2116	−0.498%	$7K	$351K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0250%	1h	0.2132	+0.261%	$2.7M	$5.0M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2129	+0.100%	$51K	—	100x	as long as short
Extended ENA-USDshort	+0.0304%	1h	0.2130	+0.154%	$1.6M	$4.1M	50x
BloFin ENA-USDTlong	+0.0340%	4h	0.2127	long leg	$5.7M	$2.0M	75x
Reya ENARUSDPERP	+0.0412%	1h	0.2128	+0.079%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0522%	1h	0.2132	+0.244%	$114.9M	$74.3M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2131	+0.216%	$837K	$1.8M	50x	as long as short