Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0959%/8h= −105.0% APRpaid last 24h −0.692%

Price spread now: SunX against dYdX−2.442%7-day average −2.356% · you buy dearer than you sell

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

Long on dYdX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−1.024%−$102 on $10k

Price spread, last 3 days (all we have)+0.265%+$27 · spread now −2.442%, 7d avg −2.356%

Together, before fees−0.759%−$76 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$29 a day on $10k at the current rate, and SunX is 0.086% cheaper against dYdX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −2.356%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ENA-USD	0.2128	0.1059	pay 0.0132% / 1h	0m 55s	$141K	$15K	5x
Short	SunX ENA-USDT	0.2076	0.0100	get 0.0050% / 4h	0m 55s	$1K	$829K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −2.442%Rate

Funding earned: −$201.42
Price spread: −2.442% → −2.356%: −$8.57
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$227.99
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: dYdX: live order book, 13 min ago; SunX: live order book, 61 min ago. 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 dYdX live order book, 13 min ago	195.88 bp	350.9 bp −$351	593.8 bp −$5,938	695.8 bp −$69.6K	1393.6 bp −$696.8K
Sell SunX live order book, 61 min ago	265.66 bp	doesn't fit	doesn't fit	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2128	+0.007%	$95K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2126	−0.082%	$97K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0012%	4h	0.2127	−0.031%	$41K	$24K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.209%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0051%	1h	0.2129	+0.059%	$379K	$445K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2125	−0.134%	$63K	$527K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2126	−0.078%	$682K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2129	+0.030%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2126	−0.080%	$411K	$559K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2129	+0.076%	$132.0M	$449.6M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2129	+0.059%	$89.4M	$189.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2129	+0.059%	$20.7M	$110.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2127	−0.064%	$15K	$395K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2126	−0.087%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2126	−0.091%	$90K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2128	−0.002%	$10.8M	$21.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2129	+0.068%	$46.5M	$45.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2129	+0.063%	$24.7M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2128	+0.016%	$48.4M	$63.5M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2129	+0.073%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2124	−0.164%	$3.9M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2128	+0.001%	$246K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2123	−0.222%	$360K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2128	+0.007%	$34K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2127	−0.049%	$179K	$2.4M	10x	as long as short
SunX ENA-USDTshort	+0.0100%	4h	0.2076	−2.442%	$1K	$829K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2128	+0.007%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.059%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2127	−0.040%	$1.9M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2125	−0.129%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2127	−0.017%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2129	+0.045%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0208%	1h	0.2127	−0.049%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2130	+0.084%	$2.7M	$5.2M	50x	as long as short
Extended ENA-USD	+0.0240%	1h	0.2129	+0.044%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2126	−0.069%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2127	−0.031%	$5.6M	$4.7M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2126	−0.099%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2132	+0.214%	$842K	$1.9M	50x	as long as short
Lighter ENA	+0.0560%	1h	0.2131	+0.148%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0745%	1h	0.2132	+0.181%	$114.9M	$78.4M	10x	as long as short
dYdX ENA-USDlong	+0.1059%	1h	0.2128	long leg	$141K	$15K	5x