Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0307%/8h= −33.6% APRpaid last 24h −0.095%

Price spread now: Injective against BloFin−0.748%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.286%−$29 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Injective is 0.748% cheaper against BloFin than usual: you would sell low and buy high (−$75 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ENA-USDT	0.2138	0.0340	pay 0.0170% / 4h	3h 22m	$5.6M	$3.4M	75x
Short	Injective ENA/USDC PERP	0.2122	0.0033	get 0.0004% / 1h	22m 16s	$734	$57K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.748%Rate

Funding earned: −$64.4
Price spread: −0.748% → 0.000%: −$74.84
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$151.26
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 6 min ago; Injective: 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 BloFin live order book, 6 min ago	1.42 bp	9.7 bp −$10	15.7 bp −$157	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Phemex ENAUSDT	−0.0167%	4h	0.2137	−0.042%	$1.8M	$8.9M	50x	as long as short
01 Exchange ENAUSD	−0.0120%	1h	0.2142	+0.173%	$4K	$169	10x	as long as short
Orderly PERP_ENA_USDC	−0.0103%	4h	0.2139	+0.065%	$44K	$15K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2141	+0.150%	$76K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2139	+0.073%	$82K	—	150x	as long as short
Injective ENA/USDC PERPshort	+0.0033%	1h	0.2122	−0.748%	$734	$57K	5.5x
Bitget ENAUSDT	+0.0076%	4h	0.2139	+0.033%	$48.4M	$61.0M	75x	as long as short
Lighter ENA	+0.0096%	1h	0.2143	+0.225%	$5.0M	$13.0M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2141	+0.145%	$55K	$497K	50x	as long as short
Paradex ENA-USD-PERP	+0.0099%	8h	0.2141	+0.135%	$48K	$110	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ENA-USD	+0.0099%	1h	0.2142	+0.175%	$142K	$16K	5x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2141	+0.166%	$566K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2143	+0.225%	$116.5M	$76.1M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2141	+0.157%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2140	+0.116%	$411K	$562K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2142	+0.175%	$129.2M	$430.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2141	+0.145%	$89.0M	$194.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2141	+0.136%	$21.2M	$109.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2120	−0.823%	$38K	$327K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2141	+0.145%	$78K	$283K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	−1.186%	$92K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2141	+0.140%	$13.4M	$27.9M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2141	+0.150%	$41.7M	$43.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2142	+0.210%	$25.2M	$16.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2141	+0.145%	—	$31.0M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2139	+0.042%	$414K	$479K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2114	−1.097%	$3.0M	$9.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2120	−0.838%	$248K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2120	−0.837%	$356K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2117	−0.978%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2142	+0.192%	$176K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2091	−2.203%	$1K	$929K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2140	+0.098%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2146	+0.365%	$267K	$843K	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2139	+0.064%	$1.6M	$4.7M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2139	+0.052%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2119	−0.884%	$13K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0195%	1h	0.2140	+0.114%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0756%	1h	0.2138	+0.014%	$59K	—	100x	as long as short
BloFin ENA-USDTlong	+0.0340%	4h	0.2138	long leg	$5.6M	$3.4M	75x
Reya ENARUSDPERP	+0.0411%	1h	0.2140	+0.113%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2118	−0.917%	$786K	$2.0M	50x	as long as short