Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0673%/8h= −73.6% APRpaid last 24h −0.619%

Price spread now: edgeX against dYdX+0.444%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$225as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$1191.187% of the position

Long on dYdX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−1.065%−$107 on $10k

Price spread, last 4 days (all we have)−0.320%−$32 · spread now +0.444%, 7d avg +0.039%

Together, before fees−1.385%+ Points / potential airdropedgeX: Active · farm board−$139 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.405% dearer against dYdX than usual: you sell high and buy low (spread +0.444% now, against its 7-day average of +0.039%): +$41 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 2.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ENA-USD	0.2107	0.0773	pay 0.0097% / 1h	41m 10s	$139K	$16K	5x
Short	edgeX ENAUSDC	0.2117	0.0100	get 0.0050% / 4h	41m 10s	$254K	$7.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.444%Rate

Funding earned: −$141.24
Price spread: +0.444% → +0.039%: $40.54
Slippage, 4 orders: −$99.74
Fee dYdX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$219.44
Costs to cover: 1.187%
Break-even: never at this rate

Slippage from dYdX: live order book, 63 min ago; edgeX: 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 dYdX live order book, 63 min ago	37.85 bp	45.3 bp −$45	288.8 bp −$2,888	693.7 bp −$69.4K	1505.8 bp −$752.9K
Sell edgeX live order book, 3 min ago	9.46 bp	14.0 bp −$14	15.5 bp −$155	46.7 bp −$4,668	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
Orderly PERP_ENA_USDC	−0.0097%	4h	0.2109	+0.070%	$44K	$17K	10x	as long as short
01 Exchange ENAUSD	−0.0016%	1h	0.2108	+0.013%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2110	+0.117%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2110	+0.116%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.763%	$522	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2112	+0.198%	$5.0M	$13.8M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2107	−0.016%	$55K	$478K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2108	+0.018%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2107	+0.001%	$561K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2110	+0.108%	$114.3M	$75.1M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2110	+0.118%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2107	+0.008%	$404K	$560K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2110	+0.117%	$128.2M	$425.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2109	+0.065%	$90.5M	$187.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2110	+0.117%	$21.2M	$107.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2107	+0.008%	$38K	$318K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2107	−0.016%	$78K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	+0.263%	$92K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2108	+0.051%	$12.8M	$26.9M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2110	+0.132%	$39.1M	$42.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2110	+0.132%	$24.9M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2107	−0.001%	$47.9M	$59.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2107	+0.003%	—	$31.4M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2110	+0.117%	$412K	$490K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2121	+0.660%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDCshort	+0.0100%	4h	0.2117	+0.444%	$254K	$7.1M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2115	+0.369%	$365K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2117	+0.459%	$19K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2108	+0.027%	$188K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2057	−2.393%	$1K	$905K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2110	+0.127%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2109	+0.084%	$265K	$817K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2109	+0.079%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2109	+0.059%	$1.6M	$4.4M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2108	+0.046%	$74K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0149%	1h	0.2110	+0.140%	$2.6M	$4.4M	50x	as long as short
Phoenix ENA	+0.0190%	1h	0.2108	+0.051%	$8K	$273K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0754%	1h	0.2110	+0.111%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2108	+0.051%	$5.6M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2108	+0.055%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2116	+0.407%	$874K	$1.8M	50x	as long as short
dYdX ENA-USDlong	+0.0773%	1h	0.2107	long leg	$139K	$16K	5x