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 +0.003%

Price spread now: Binance against Bybit+0.007%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$350.346% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 7 days+0.005%$0 · spread now +0.007%, 7d avg +0.033%

Together, before fees+0.055%+$5 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: Binance is 0.026% cheaper against Bybit than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENAUSDT	0.2117	0.0100	pay 0.0050% / 4h	30m 36s	$88.9M	$189.8M	50x
Short	Binance ENAUSDT	0.2117	0.0100	get 0.0050% / 4h	30m 36s	$131.0M	$452.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.007%Rate

Funding earned: $0
Price spread: +0.007% → +0.033%: −$2.64
Slippage, 4 orders: −$13.55
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$37.19
Costs to cover: 0.346%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Binance: live order book, 13 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	0.24 bp	7.9 bp −$8	18.6 bp −$186	64.6 bp −$6,456	doesn't fit
Sell Binance live order book, 13 min ago	0.23 bp	7.3 bp −$7	12.5 bp −$125	50.5 bp −$5,047	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	−0.0017%	4h	0.2119	+0.104%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2119	+0.128%	$92K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2120	+0.159%	$97K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.326%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0045%	1h	0.2120	+0.151%	$374K	$446K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2116	−0.024%	$63K	$521K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2119	+0.128%	$679K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2117	+0.009%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2116	−0.001%	$410K	$564K	10x	as long as short
Binance ENAUSDTshort	+0.0100%	4h	0.2117	+0.007%	$131.0M	$452.8M	75x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDTlong	+0.0100%	4h	0.2117	long leg	$88.9M	$189.8M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2117	+0.028%	$20.5M	$110.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2124	+0.364%	$15K	$395K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2118	+0.071%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	0.000%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2116	−0.028%	$10.8M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2116	−0.024%	$46.6M	$45.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2115	−0.047%	$24.5M	$16.3M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2115	−0.076%	$47.9M	$64.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2117	0.000%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2119	+0.123%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2123	+0.290%	$252K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	+0.346%	$361K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2124	+0.354%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2120	+0.156%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2068	−2.282%	$891	$824K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2119	+0.118%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2124	+0.335%	$277K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2119	+0.118%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2116	−0.028%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2119	+0.115%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2124	+0.378%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0192%	1h	0.2118	+0.076%	$4K	$302	10x	as long as short
Extended ENA-USD	+0.0232%	1h	0.2116	−0.021%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0241%	1h	0.2120	+0.176%	$2.7M	$5.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2119	+0.140%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2117	+0.043%	$5.6M	$7.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2119	+0.130%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0528%	1h	0.2119	+0.109%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2132	+0.718%	$842K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0788%	1h	0.2119	+0.099%	$113.8M	$78.8M	10x	as long as short
dYdX ENA-USD	+0.1735%	1h	0.2117	+0.040%	$140K	$15K	5x	as long as short