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: MEXC against Bybit+0.057%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$190.188% of the position

Long on Bybit Short on MEXC

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−0.051%−$5 · spread now +0.057%, 7d avg +0.029%

Together, before fees−0.002%$0 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: MEXC is 0.028% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENAUSDT	0.2102	0.0100	pay 0.0050% / 4h	1h 09m	$87.5M	$190.7M	50x
Short	MEXC ENA_USDT	0.2103	0.0100	get 0.0050% / 4h	1h 09m	$46.7M	$47.0M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.057%Rate

Funding earned: $0
Price spread: +0.057% → +0.029%: $2.79
Slippage, 4 orders: −$7.79
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 0 bp × 2 orders: $0
Net: −$16
Costs to cover: 0.188%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; MEXC: 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	0.24 bp	8.1 bp −$8	15.4 bp −$154	55.0 bp −$5,503	doesn't fit
Sell MEXC live order book, 4 min ago	0.24 bp	0.6 bp −$1	4.6 bp −$46	29.8 bp −$2,980	61.1 bp −$30.6K

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	−0.0042%	4h	0.2097	−0.243%	$41K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0025%	1h	0.2099	−0.124%	$371K	$447K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2098	−0.205%	$91K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2097	−0.219%	$101K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.023%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2099	−0.142%	$2.6M	$5.5M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2096	−0.281%	$61K	$530K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2096	−0.267%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2098	−0.183%	$660K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2104	+0.099%	$1.5M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2098	−0.178%	$406K	$576K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2103	+0.031%	$129.7M	$454.8M	75x	as long as short
Bybit ENAUSDTlong	+0.0100%	4h	0.2102	long leg	$87.5M	$190.7M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2102	+0.024%	$20.3M	$111.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2095	−0.314%	$15K	$396K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2098	−0.186%	$82K	$220K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2099	−0.125%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2102	+0.014%	$10.5M	$21.3M	50x	as long as short
MEXC ENA_USDTshort	+0.0100%	4h	0.2103	+0.057%	$46.7M	$47.0M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2104	+0.081%	$24.0M	$16.3M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2102	0.000%	$47.5M	$64.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2103	+0.048%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	−0.225%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2096	−0.300%	$249K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2096	−0.294%	$350K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2096	−0.281%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2097	−0.238%	$176K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2047	−2.626%	$1K	$816K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2098	−0.186%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2099	−0.114%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2097	−0.233%	$1.9M	$9.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2097	−0.209%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2098	−0.190%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0144%	1h	0.2097	−0.209%	$4K	$332	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0245% / S −0.0422%	1h	0.2096	−0.269%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2099	−0.157%	$5.5M	$8.0M	75x	as long as short
Extended ENA-USD	+0.0344%	1h	0.2103	+0.034%	$1.6M	$4.1M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2096	−0.292%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0528%	1h	0.2101	−0.057%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2100	−0.086%	$827K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0585%	1h	0.2102	+0.014%	$111.0M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1981%	1h	0.2098	−0.196%	$139K	$15K	5x	as long as short