Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: SoDEX against Bybit0.000%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on SoDEX

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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENAUSDT	0.2114	0.0100	pay 0.0050% / 4h	1h 06m	$90.7M	$186.9M	50x
Short	SoDEX ENA-USD	0.2114	0.0100	get 0.0013% / 1h	6m 47s	$4K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$19
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; SoDEX: no order-book sample. 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 Bybit live order book, 2 min ago	0.24 bp	8.7 bp −$9	15.2 bp −$152	53.0 bp −$5,298	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
Orderly PERP_ENA_USDC	−0.0100%	4h	0.2113	−0.066%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2114	+0.014%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2113	−0.047%	$81K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2109	−0.232%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.445%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2109	−0.237%	$55K	$484K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2114	−0.021%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2111	−0.132%	$559K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2115	+0.057%	$114.5M	$75.3M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2114	+0.021%	$1.4M	$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	0.2114	+0.021%	$400K	$542K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2115	+0.026%	$128.2M	$426.4M	75x	as long as short
Bybit ENAUSDTlong	+0.0100%	4h	0.2114	long leg	$90.7M	$186.9M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2116	+0.104%	$21.1M	$107.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2111	−0.156%	$33K	$323K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2116	+0.095%	$78K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2122	+0.375%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2113	−0.066%	$12.5M	$26.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2115	+0.057%	$38.5M	$43.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2114	−0.024%	$24.7M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2113	−0.028%	$47.9M	$59.7M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2117	+0.118%	—	$31.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2119	+0.235%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2113	−0.058%	$257K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2111	−0.142%	$351K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2113	−0.047%	$19K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2112	−0.104%	$183K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2056	−2.734%	$1K	$902K	20x	as long as short
SoDEX ENA-USDshort	+0.0100%	1h	0.2114	0.000%	$4K	$7K	10x
HTX ENA-USDT	+0.0100%	4h	0.2118	+0.199%	$266K	$816K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2114	0.000%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2111	−0.134%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2113	−0.047%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2120	+0.274%	$8K	$276K	10x	as long as short
Lighter ENA	+0.0152%	1h	0.2115	+0.043%	$5.0M	$13.7M	10x	as long as short
dYdX ENA-USD	+0.0242%	1h	0.2113	−0.027%	$140K	$16K	5x	as long as short
Backpack ENA_USDC_PERP	+0.0249%	1h	0.2114	+0.024%	$392K	$437K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0753%	1h	0.2113	−0.031%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2112	−0.090%	$5.6M	$3.3M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2111	−0.132%	$1K	—	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0446%	1h	0.2115	+0.058%	$2.6M	$4.4M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2135	+1.017%	$881K	$1.8M	50x	as long as short