Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h −0.059%

Price spread now: 01 Exchange against Bybit+0.153%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 01 Exchange

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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and 01 Exchange is 0.153% dearer against Bybit than usual: you sell high and buy low: +$15 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENAUSDT	0.2094	0.0100	pay 0.0050% / 4h	1h 21m	$87.2M	$191.1M	50x
Short	01 Exchange ENAUSD	0.2097	0.0128	get 0.0016% / 1h	21m 18s	$4K	$432	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.153%Rate

Funding earned: $5.88
Price spread: +0.153% → 0.000%: $15.28
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: $3.16
Costs to cover: 0.180%
Break-even: 3.2 days

Slippage unknown: Bybit: live order book, 3 min ago; 01 Exchange: 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, 3 min ago	0.24 bp	7.5 bp −$7	14.9 bp −$149	57.8 bp −$5,785	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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
Backpack ENA_USDC_PERP	−0.0068%	1h	0.2097	+0.148%	$362K	$447K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0052%	4h	0.2094	+0.014%	$40K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2095	+0.048%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2095	+0.038%	$101K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.394%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2097	+0.129%	$2.6M	$5.5M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2095	+0.038%	$61K	$531K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2095	+0.052%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2096	+0.103%	$660K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2096	+0.087%	$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	0.2096	+0.100%	$405K	$578K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2095	+0.053%	$129.2M	$456.1M	75x	as long as short
Bybit ENAUSDTlong	+0.0100%	4h	0.2094	long leg	$87.2M	$191.1M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2095	+0.029%	$20.2M	$111.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2093	−0.072%	$15K	$401K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2097	+0.134%	$82K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2088	−0.272%	$88K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2095	+0.043%	$10.5M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2095	+0.043%	$45.8M	$46.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2097	+0.134%	$23.9M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2093	−0.043%	$47.3M	$64.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2095	+0.048%	—	$32.8M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2089	−0.235%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2093	−0.078%	$248K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2094	−0.010%	$354K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2094	−0.010%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2096	+0.081%	$179K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2045	−2.354%	$968	$815K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2095	+0.038%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2098	+0.177%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2094	−0.010%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2095	+0.057%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2091	−0.134%	$5K	$356K	10x	as long as short
01 Exchange ENAUSDshort	+0.0128%	1h	0.2097	+0.153%	$4K	$432	10x
GMX ENA/USD [ETH-USDC]	L +0.0238% / S −0.0406%	1h	0.2095	+0.036%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0328%	1h	0.2094	0.000%	$1.6M	$4.1M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2092	−0.129%	$5.5M	$8.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2094	+0.006%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0512%	1h	0.2099	+0.220%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2097	+0.158%	$806K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0581%	1h	0.2099	+0.210%	$110.8M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1963%	1h	0.2096	+0.064%	$138K	$15K	5x	as long as short