Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h +0.021%

Price spread now: Reya against BloFin−0.034%106s7-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 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

Funding pays, the price is against you. Reya is 0.034% cheaper against BloFin than usual: you would sell low and buy high (spread −0.034% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 38 hours of funding at the current rate (+$2 a day). The two prices were read 106 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	0.2119	0.0340	pay 0.0170% / 4h	3h 37m	$5.6M	$3.8M	75x
Short	Reya ENARUSDPERP	0.2118	0.0412	get 0.0051% / 1h	37m 33s	$1K	$5K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.034%Rate

Funding earned: $15.09
Price spread: −0.034% → 0.000%: −$3.43
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$6.34
Costs to cover: 0.180%
Break-even: 9.9 days

Slippage unknown: BloFin: live order book, 6 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 BloFin live order book, 6 min ago	0.24 bp	9.7 bp −$10	17.1 bp −$171	doesn't fit	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
Backpack ENA_USDC_PERP	−0.0012%	1h	0.2119	+0.042%	$377K	$417K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2118	−0.019%	$86K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2118	−0.048%	$97K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0024%	4h	0.2117	−0.052%	$41K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.227%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0035%	1h	0.2117	−0.072%	$140K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2118	−0.028%	$62K	$524K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2118	−0.007%	$674K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2120	+0.066%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2119	+0.024%	$411K	$552K	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	0.2118	−0.010%	$131.4M	$445.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2117	−0.052%	$89.1M	$186.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2119	+0.009%	$20.8M	$109.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2119	−0.005%	$15K	$399K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2120	+0.066%	$97K	$236K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.099%	$89K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2118	−0.038%	$10.8M	$20.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2118	−0.009%	$46.3M	$44.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2120	+0.085%	$24.4M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2117	−0.066%	$48.0M	$61.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2118	−0.014%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2118	−0.027%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2117	−0.054%	$247K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	−0.076%	$356K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	−0.028%	$34K	$709K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2119	0.000%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2068	−2.393%	$873	$828K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2118	−0.028%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2119	+0.042%	$275K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2118	−0.028%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2118	−0.012%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2118	−0.022%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2119	+0.009%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0224%	1h	0.2120	+0.057%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0236%	1h	0.2119	+0.036%	$2.7M	$5.1M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2117	−0.055%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0272%	1h	0.2117	−0.061%	$1.6M	$4.3M	50x	as long as short
BloFin ENA-USDTlong	+0.0340%	4h	0.2119	long leg	$5.6M	$3.8M	75x
Reya ENARUSDPERPshort	+0.0412%	1h	0.2118	−0.034%	$1K	$5K	15x
Lighter ENA	+0.0600%	1h	0.2121	+0.094%	$5.6M	$12.6M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2120	+0.057%	$837K	$1.9M	50x	as long as short
Hyperliquid ENA	+0.0699%	1h	0.2122	+0.160%	$114.4M	$75.3M	10x	as long as short