Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.086%

Price spread now: Aster against Deribit−0.002%7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$380.379% of the position

Long on Deribit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.278%+$28 on $10k

Price spread, last 3 days (all we have)−0.463%−$46 · spread now −0.002%, 7d avg +0.017%

Together, before fees−0.185%+ Points / potential airdropAster: Stage 5 · farm board−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.017%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ENA_USDC-PERPETUAL	0.2096	0	get 0.0000% / 1h	40m 18s	$97K	$1.9M	50x
Short	Aster ENAUSDT	0.2096	0.0100	get 0.0050% / 4h	2h 40m	$1.5M	$3.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Deribit. 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 DeribitbpFee AsterbpOrdersPrice spread, now −0.002%Rate

Funding earned: $21
Price spread: −0.002% → +0.017%: −$1.85
Slippage, 4 orders: −$22.92
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$18.77
Costs to cover: 0.379%
Break-even: 13.3 days

Slippage from Deribit: live order book, 4 min ago; Aster: live order book, 3 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 Deribit live order book, 4 min ago	3.34 bp	6.8 bp −$7	13.2 bp −$132	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	1.67 bp	13.7 bp −$14	21.4 bp −$214	doesn't fit	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	−0.0355%	1h	0.2097	+0.033%	$361K	$486K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0083%	4h	0.2095	−0.038%	$41K	$24K	10x	as long as short
01 Exchange ENAUSD	−0.0032%	1h	0.2096	+0.005%	$4K	$432	10x	as long as short
Gate ENA_USDT	−0.0008%	4h	0.2095	−0.038%	$10.4M	$21.5M	50x	as long as short
Deribit ENA_USDC-PERPETUALlong	0.0000%	1h	0.2096	long leg	$97K	$1.9M	50x
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2096	−0.004%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.302%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2097	+0.057%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2095	−0.052%	$59K	$541K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2095	−0.054%	$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	0.2096	−0.026%	$654K	$1.8M	10x	as long as short
Aster ENAUSDTshort	+0.0100%	4h	0.2096	−0.002%	$1.5M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2096	+0.003%	$402K	$587K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2096	−0.002%	$129.2M	$468.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2095	−0.067%	$87.7M	$193.6M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2095	−0.038%	$20.1M	$114.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2094	−0.114%	$19K	$433K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2096	−0.005%	$83K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2094	−0.100%	$88K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2096	−0.005%	$44.9M	$48.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2096	+0.014%	$24.2M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2094	−0.110%	$47.4M	$66.7M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2095	−0.038%	—	$32.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2095	−0.054%	$3.6M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2093	−0.148%	$250K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2093	−0.155%	$356K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2092	−0.196%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2097	+0.062%	$181K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2046	−2.414%	$889	$807K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2095	−0.052%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2099	+0.157%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2095	−0.052%	$1.8M	$9.3M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2095	−0.051%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2096	−0.005%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2097	+0.039%	$2.7M	$5.8M	50x	as long as short
Lighter ENA	+0.0200%	1h	0.2099	+0.114%	$5.7M	$13.1M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0212% / S −0.0160%	1h	0.2096	−0.015%	$50K	—	100x	as long as short
Hyperliquid ENA	+0.0316%	1h	0.2099	+0.153%	$111.5M	$80.9M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2097	+0.019%	$5.6M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2096	−0.028%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2101	+0.224%	$802K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.9572%	1h	0.2096	+0.003%	$138K	$12K	5x	as long as short