Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against edgeX+0.238%50s7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$390.392% of the position

Long on edgeX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.027%−$3 on $10k

Price spread, last 7 days−0.206%−$21 · spread now +0.238%, 7d avg +0.017%

Together, before fees−0.233%+ Points / potential airdropedgeX: Active · farm board−$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.221% dearer against edgeX than usual: you sell high and buy low, +$22 on $10k if it goes back to its 7-day average of +0.017%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ENAUSDC	0.2111	0.0100	pay 0.0050% / 4h	28m 47s	$243K	$7.0M	20x
Short	Binance ENAUSDT	0.2116	0.0100	get 0.0050% / 4h	28m 47s	$128.9M	$417.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against edgeX. 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 edgeXbpFee BinancebpOrdersPrice spread, now +0.238%Rate

Funding earned: $0
Price spread: +0.238% → +0.017%: $22.06
Slippage, 4 orders: −$20.21
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$17.15
Costs to cover: 0.392%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; Binance: live order book, 15 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 edgeX live order book, 5 min ago	7.16 bp	11.7 bp −$12	13.2 bp −$132	44.3 bp −$4,430	doesn't fit
Sell Binance live order book, 15 min ago	0.24 bp	7.5 bp −$8	12.4 bp −$124	53.3 bp −$5,330	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	−0.0186%	1h	0.2119	+0.385%	$365K	$390K	5x	as long as short
01 Exchange ENAUSD	−0.0096%	1h	0.2128	+0.806%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0068%	4h	0.2123	+0.569%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2124	+0.602%	$79K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2124	+0.598%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.569%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2114	+0.138%	$8K	$266K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2119	+0.361%	$5.2M	$13.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2125	+0.645%	$56K	$482K	50x	as long as short
dYdX ENA-USD	+0.0097%	1h	0.2118	+0.309%	$140K	$15K	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0100%	8h	0.2114	+0.134%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2126	+0.697%	$656K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2120	+0.408%	$115.4M	$75.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2121	+0.437%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2117	+0.257%	$405K	$516K	10x	as long as short
Binance ENAUSDTshort	+0.0100%	4h	0.2116	+0.238%	$128.9M	$417.0M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2116	+0.200%	$85.5M	$175.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2114	+0.124%	$20.9M	$103.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2118	+0.314%	$20K	$317K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2128	+0.787%	$80K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2093	−0.870%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2118	+0.304%	$11.1M	$22.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2115	+0.186%	$46.1M	$41.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2118	+0.328%	$24.8M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2115	+0.186%	$48.1M	$57.7M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2117	+0.290%	—	$32.4M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2112	+0.033%	$3.0M	$10.1M	—	as long as short
edgeX ENAUSDClong	+0.0100%	4h	0.2111	long leg	$243K	$7.0M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2113	+0.054%	$349K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2104	−0.350%	$20K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2127	+0.740%	$183K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2073	−1.837%	$875	$846K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2124	+0.598%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.811%	$275K	$794K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2119	+0.361%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2113	+0.073%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2125	+0.628%	$74K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0242%	1h	0.2124	+0.611%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0254% / S −0.0213%	1h	0.2124	+0.591%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2120	+0.423%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2127	+0.719%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2127	+0.716%	$870K	$1.6M	50x	as long as short