Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0083%/8h= +9.1% APRpaid last 24h −0.683%

Price spread now: Binance against dYdX+0.007%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$221as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$1141.139% of the position

Long on dYdX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−1.067%−$107 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now +0.007%, 7d avg +0.010%

Together, before fees−1.146%−$115 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.010%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −1.067%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ENA-USD	0.2151	0.0017	pay 0.0002% / 1h	29m 37s	$142K	$15K	5x
Short	Binance ENAUSDT	0.2151	0.0100	get 0.0050% / 4h	2h 29m	$133.4M	$444.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against dYdX. 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 dYdXbpFee BinancebpOrdersPrice spread, now +0.007%Rate

Funding earned: $17.45
Price spread: +0.007% → +0.010%: −$0.34
Slippage, 4 orders: −$93.88
Fee dYdX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$96.77
Costs to cover: 1.139%
Break-even: 45.8 days

Slippage from dYdX: live order book, 39 min ago; Binance: live order book, 14 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 dYdX live order book, 39 min ago	39.28 bp	44.3 bp −$44	294.9 bp −$2,949	882.2 bp −$88.2K	1645.9 bp −$823.0K
Sell Binance live order book, 14 min ago	0.24 bp	8.9 bp −$9	15.1 bp −$151	53.4 bp −$5,340	doesn't fit

ENA on 41 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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2147	−0.178%	$80K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2148	−0.129%	$92K	—	150x	as long as short
dYdX ENA-USDlong	+0.0017%	1h	0.2151	long leg	$142K	$15K	5x
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.294%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0042%	4h	0.2147	−0.183%	$45K	$28K	10x	as long as short
01 Exchange ENAUSD	+0.0072%	1h	0.2152	+0.017%	$4K	$302	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2150	−0.057%	$56K	$525K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2150	−0.050%	$700K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2153	+0.082%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2152	+0.019%	$421K	$544K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDTshort	+0.0100%	4h	0.2151	+0.007%	$133.4M	$444.6M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2150	−0.067%	$88.3M	$187.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2149	−0.113%	$21.2M	$109.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2128	−1.085%	$19K	$411K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2151	−0.011%	$117K	$251K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2105	−2.137%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2151	−0.029%	$11.1M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2151	−0.016%	$46.1M	$44.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2154	+0.110%	$24.9M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2149	−0.113%	$48.9M	$61.1M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2150	−0.062%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2152	+0.022%	$372K	$376K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2140	−0.535%	$3.8M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2140	−0.507%	$246K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2127	−1.105%	$353K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2142	−0.429%	$32K	$656K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2150	−0.039%	$182K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2100	−2.372%	$1K	$850K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2148	−0.150%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2158	+0.315%	$279K	$990K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2148	−0.150%	$1.9M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2150	−0.043%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2147	−0.208%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2138	−0.606%	$7K	$351K	10x	as long as short
Extended ENA-USD	+0.0248%	1h	0.2149	−0.103%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0248%	1h	0.2150	−0.067%	$2.7M	$4.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0252% / S −0.0206%	1h	0.2148	−0.149%	$51K	—	100x	as long as short
Lighter ENA	+0.0376%	1h	0.2154	+0.110%	$5.6M	$13.6M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2149	−0.101%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0535%	1h	0.2154	+0.133%	$116.5M	$73.2M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2111	−1.880%	$827K	$1.7M	50x	as long as short