Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.066%

Price spread now: BloFin against Bulk+0.043%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 BloFin

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—needs both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.043% dearer against Bulk than usual: you sell high and buy low: +$4 more if the spread 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	0.2094	0.0100	pay 0.0013% / 1h	35m 01s	$88K	$2K	10x
Short	BloFin ENA-USDT	0.2095	0.0340	get 0.0170% / 4h	2h 35m	$5.5M	$8.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.043%Rate

Funding earned: $50.4
Price spread: +0.043% → 0.000%: $4.3
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $35.7
Costs to cover: 0.190%
Break-even: 2.0 days

Slippage unknown: Bulk: no order-book sample; BloFin: live order book, 4 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 BloFin live order book, 4 min ago	0.24 bp	14.2 bp −$14	19.8 bp −$198	75.6 bp −$7,562	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	−0.0347%	1h	0.2095	+0.067%	$361K	$485K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0083%	4h	0.2094	0.000%	$41K	$24K	10x	as long as short
01 Exchange ENAUSD	−0.0032%	1h	0.2094	−0.010%	$4K	$432	10x	as long as short
Gate ENA_USDT	−0.0006%	4h	0.2094	−0.019%	$10.4M	$21.5M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2095	+0.029%	$97K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2095	+0.033%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.404%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2095	+0.053%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2093	−0.048%	$59K	$541K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2094	−0.017%	$47K	$221	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2093	−0.064%	$656K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2095	+0.034%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2094	+0.011%	$402K	$585K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2095	+0.035%	$129.2M	$467.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2094	−0.005%	$87.6M	$193.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2095	+0.067%	$20.2M	$114.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2091	−0.167%	$19K	$433K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2094	0.000%	$82K	$223K	10x	as long as short
Bulk ENA-USDlong	+0.0100%	1h	0.2094	long leg	$88K	$2K	10x
MEXC ENA_USDT	+0.0100%	4h	0.2094	+0.005%	$44.7M	$48.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2095	+0.048%	$24.2M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2094	+0.005%	$47.4M	$66.6M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2094	+0.005%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2092	−0.097%	$3.6M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2091	−0.147%	$248K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2093	−0.033%	$359K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2093	−0.048%	$32K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2096	+0.096%	$181K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2044	−2.378%	$1K	$806K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2094	0.000%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2096	+0.100%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2094	0.000%	$1.8M	$9.3M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2094	+0.012%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2095	+0.033%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2096	+0.073%	$2.7M	$5.8M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0212% / S −0.0160%	1h	0.2094	+0.017%	$50K	—	100x	as long as short
Lighter ENA	+0.0264%	1h	0.2097	+0.129%	$5.7M	$13.1M	10x	as long as short
Hyperliquid ENA	+0.0298%	1h	0.2097	+0.129%	$110.7M	$80.8M	10x	as long as short
BloFin ENA-USDTshort	+0.0340%	4h	0.2095	+0.043%	$5.5M	$8.1M	75x
Reya ENARUSDPERP	+0.0412%	1h	0.2094	+0.013%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2101	+0.325%	$802K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.9219%	1h	0.2094	−0.004%	$138K	$12K	5x	as long as short