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: edgeX against Bybit−0.170%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$400.400% of the position

Long on Bybit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.089%+$9 on $10k

Price spread, last 7 days+0.142%+$14 · spread now −0.170%, 7d avg +0.013%

Together, before fees+0.231%+ Points / potential airdropedgeX: Active · farm board+$23 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: edgeX is 0.183% cheaper against Bybit than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENAUSDT	0.2097	0.0100	pay 0.0050% / 4h	2h 33m	$87.7M	$193.2M	50x
Short	edgeX ENAUSDC	0.2093	0.0100	get 0.0050% / 4h	2h 33m	$249K	$8.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.170%Rate

Funding earned: $0
Price spread: −0.170% → +0.013%: −$18.33
Slippage, 4 orders: −$19.99
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$58.31
Costs to cover: 0.400%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; edgeX: live order book, 5 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, 5 min ago	0.24 bp	7.7 bp −$8	16.0 bp −$160	61.1 bp −$6,113	doesn't fit
Sell edgeX live order book, 5 min ago	7.19 bp	11.7 bp −$12	13.2 bp −$132	45.0 bp −$4,499	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
Backpack ENA_USDC_PERP	−0.0333%	1h	0.2097	+0.010%	$361K	$485K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0082%	4h	0.2096	−0.033%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	−0.0032%	1h	0.2098	+0.043%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2096	−0.019%	$97K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2096	−0.048%	$96K	—	150x	as long as short
Gate ENA_USDT	+0.0010%	4h	0.2097	+0.024%	$10.4M	$21.5M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.269%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2095	−0.081%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2097	+0.010%	$59K	$541K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2097	+0.002%	$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	0.2097	+0.004%	$658K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2098	+0.043%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2097	+0.033%	$403K	$585K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2098	+0.052%	$129.4M	$467.0M	75x	as long as short
Bybit ENAUSDTlong	+0.0100%	4h	0.2097	long leg	$87.7M	$193.2M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2098	+0.067%	$20.2M	$114.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2091	−0.300%	$19K	$433K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2098	+0.057%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2094	−0.134%	$88K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2097	+0.024%	$44.7M	$48.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2098	+0.052%	$24.3M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2096	−0.019%	$47.5M	$66.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2097	+0.014%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2092	−0.230%	$3.6M	$10.1M	—	as long as short
edgeX ENAUSDCshort	+0.0100%	4h	0.2093	−0.170%	$249K	$8.0M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2094	−0.154%	$359K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2093	−0.181%	$32K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2097	−0.014%	$181K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2045	−2.485%	$1K	$806K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2095	−0.086%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2097	+0.005%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2096	−0.038%	$1.8M	$9.3M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2097	−0.009%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2097	−0.005%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2097	−0.005%	$2.7M	$5.8M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0212% / S −0.0161%	1h	0.2096	−0.033%	$50K	—	100x	as long as short
Lighter ENA	+0.0272%	1h	0.2100	+0.148%	$5.7M	$13.1M	10x	as long as short
Hyperliquid ENA	+0.0298%	1h	0.2099	+0.110%	$110.8M	$80.8M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2095	−0.091%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2095	−0.101%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2101	+0.191%	$802K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.8864%	1h	0.2098	+0.053%	$139K	$15K	5x	as long as short