Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.054%

Price spread now: Aster against Bulk+0.181%7-day average — · you sell dearer than you buy

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

Long on Bulk Short on Aster

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 airdropAster: Stage 5 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.181% dearer against Bulk than usual: you sell high and buy low, +$18 on $10k if it 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	Bulk ENA-USD	0.2137	0.0100	pay 0.0013% / 1h	29m 32s	$90K	$2K	10x
Short	Aster ENAUSDT	0.2141	0.0100	get 0.0050% / 4h	3h 29m	$1.6M	$3.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bulk. 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 BulkbpFee AsterbpOrdersPrice spread, now +0.181%Rate

Funding earned: $0
Price spread: +0.181% → 0.000%: $18.14
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: $3.14
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Bulk: no order-book sample; Aster: live order book, 5 min ago. 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 Bulk no order-book sample	—	—	—	—	—
Sell Aster live order book, 5 min ago	2.35 bp	9.2 bp −$9	19.1 bp −$191	doesn't fit	doesn't fit

Bulk: 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	−0.0400%	1h	0.2140	+0.126%	$368K	$492K	5x	as long as short
Phemex ENAUSDT	−0.0151%	4h	0.2139	+0.102%	$1.9M	$9.3M	50x	as long as short
Orderly PERP_ENA_USDC	−0.0121%	4h	0.2140	+0.144%	$42K	$23K	10x	as long as short
Phoenix ENA	0.0000%	1h	0.2138	+0.060%	$6K	$391K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2141	+0.191%	$95K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2141	+0.191%	$98K	—	150x	as long as short
Kraken Futures PF_ENAUSD	+0.0015%	1h	0.2141	+0.204%	$2.7M	$6.1M	50x	as long as short
01 Exchange ENAUSD	+0.0032%	1h	0.2134	−0.127%	$4K	$432	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.628%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2134	−0.132%	$58K	$551K	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0100%	8h	0.2138	+0.047%	$48K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2132	−0.223%	$660K	$1.8M	10x	as long as short
Aster ENAUSDTshort	+0.0100%	4h	0.2141	+0.181%	$1.6M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2139	+0.097%	$411K	$604K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2135	−0.067%	$132.5M	$473.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2131	−0.281%	$90.5M	$196.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2131	−0.258%	$20.5M	$118.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2137	+0.032%	$20K	$452K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2138	+0.056%	$85K	$222K	10x	as long as short
Bulk ENA-USDlong	+0.0100%	1h	0.2137	long leg	$90K	$2K	10x
Gate ENA_USDT	+0.0100%	4h	0.2138	+0.046%	$10.6M	$22.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2139	+0.084%	$46.7M	$50.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2141	+0.205%	$24.6M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2137	−0.005%	$48.6M	$67.1M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2137	+0.023%	—	$32.3M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2140	+0.145%	$3.7M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2140	+0.140%	$256K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2130	−0.307%	$362K	$4.5M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2131	−0.272%	$31K	$714K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2144	+0.341%	$189K	$3.1M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2097	−1.882%	$1K	$795K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2140	+0.149%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2146	+0.439%	$277K	$1.7M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2137	−0.004%	$1.7M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2144	+0.329%	$79K	$11K	3x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0196% / S −0.0300%	1h	0.2140	+0.161%	$39K	—	100x	as long as short
Lighter ENA	+0.0320%	1h	0.2140	+0.140%	$5.8M	$13.5M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2141	+0.177%	$5.6M	$8.4M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2140	+0.160%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0456%	1h	0.2132	−0.202%	$815K	$2.3M	50x	as long as short
Hyperliquid ENA	+0.0597%	1h	0.2144	+0.341%	$114.3M	$80.4M	10x	as long as short
dYdX ENA-USD	+0.5955%	1h	0.2141	+0.189%	$141K	$12K	5x	as long as short