Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.056%

Price spread now: Aster against Bybit+0.047%7-day average +0.113% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$400.403% of the position

Long on Bybit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.200%+$20 on $10k

Price spread, last 4 days (all we have)+0.058%+$6 · spread now +0.047%, 7d avg +0.113%

Together, before fees+0.258%+ Points / potential airdropAster: Stage 5 · farm board+$26 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.066% cheaper against Bybit than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.113%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENAUSDT	0.2124	0.0100	pay 0.0050% / 4h	34m 40s	$89.3M	$189.8M	50x
Short	Aster ENAUSDT	0.2125	0.0100	get 0.0050% / 4h	34m 40s	$1.5M	$3.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bybit. 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 BybitbpFee AsterbpOrdersPrice spread, now +0.047%Rate

Funding earned: $0
Price spread: +0.047% → +0.113%: −$6.61
Slippage, 4 orders: −$21.28
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aster: 4 bp × 2 orders: −$8
Net: −$46.89
Costs to cover: 0.403%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Aster: 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 Bybit live order book, 4 min ago	0.23 bp	11.5 bp −$11	19.1 bp −$191	62.0 bp −$6,200	doesn't fit
Sell Aster live order book, 4 min ago	2.35 bp	11.0 bp −$11	19.3 bp −$193	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
Orderly PERP_ENA_USDC	−0.0018%	4h	0.2122	−0.113%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2123	−0.052%	$92K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2124	−0.010%	$106K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.024%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0059%	1h	0.2124	−0.009%	$375K	$448K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2122	−0.089%	$63K	$522K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2124	−0.016%	$681K	$1.8M	10x	as long as short
Aster ENAUSDTshort	+0.0100%	4h	0.2125	+0.047%	$1.5M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2125	+0.050%	$411K	$564K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2124	+0.027%	$131.4M	$453.6M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDTlong	+0.0100%	4h	0.2124	long leg	$89.3M	$189.8M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2125	+0.042%	$20.6M	$111.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2125	+0.038%	$15K	$395K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2126	+0.099%	$84K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2129	+0.240%	$90K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2124	+0.024%	$10.9M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2125	+0.056%	$46.9M	$45.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2126	+0.099%	$24.6M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2124	−0.019%	$48.1M	$64.1M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2125	+0.052%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2126	+0.085%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2125	+0.071%	$253K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2125	+0.052%	$361K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2125	+0.052%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2124	−0.005%	$179K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2071	−2.477%	$1K	$824K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2122	−0.089%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2130	+0.287%	$277K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2122	−0.089%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2124	+0.003%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2122	−0.093%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2128	+0.212%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0200%	1h	0.2124	+0.009%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0241%	1h	0.2124	−0.012%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2123	−0.022%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0272%	1h	0.2124	+0.023%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2122	−0.089%	$5.6M	$7.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2123	−0.045%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0552%	1h	0.2127	+0.141%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2132	+0.367%	$842K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0824%	1h	0.2128	+0.188%	$114.4M	$78.7M	10x	as long as short
dYdX ENA-USD	+0.1719%	1h	0.2124	+0.011%	$140K	$15K	5x	as long as short