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 −0.011%

Price spread now: Bitget against edgeX−0.589%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$460.456% of the position

Long on edgeX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 7 days+0.587%+$59 · spread now −0.589%, 7d avg −0.046%

Together, before fees+0.570%+ Points / potential airdropedgeX: Active · farm board+$57 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: Bitget is 0.543% cheaper against edgeX than usual: you would sell low and buy high, −$54 on $10k if it goes back to its 7-day average of −0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ENAUSDC	0.2117	0.0100	pay 0.0050% / 4h	2h 09m	$247K	$7.5M	20x
Short	Bitget ENAUSDT	0.2105	0.0100	get 0.0050% / 4h	2h 09m	$47.9M	$60.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.589%Rate

Funding earned: $0
Price spread: −0.589% → −0.046%: −$54.3
Slippage, 4 orders: −$24.58
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$99.89
Costs to cover: 0.456%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; Bitget: live order book, 5 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	7.08 bp	11.6 bp −$12	13.1 bp −$131	43.9 bp −$4,390	doesn't fit
Sell Bitget live order book, 5 min ago	0.24 bp	13.2 bp −$13	17.8 bp −$178	36.5 bp −$3,654	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	0.2106	−0.532%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2104	−0.604%	$86K	—	150x	as long as short
dYdX ENA-USD	+0.0012%	1h	0.2108	−0.415%	$139K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.299%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0035%	4h	0.2106	−0.518%	$44K	$28K	10x	as long as short
01 Exchange ENAUSD	+0.0096%	1h	0.2104	−0.612%	$4K	$302	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2103	−0.664%	$54K	$507K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2103	−0.681%	$676K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2105	−0.583%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2107	−0.465%	$412K	$530K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2107	−0.486%	$129.9M	$439.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2107	−0.494%	$86.2M	$182.6M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2109	−0.405%	$20.7M	$105.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2112	−0.216%	$19K	$387K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2106	−0.523%	$78K	$289K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2126	+0.424%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2106	−0.532%	$11.0M	$21.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2106	−0.532%	$44.6M	$44.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2106	−0.504%	$24.4M	$16.2M	75x	as long as short
Bitget ENAUSDTshort	+0.0100%	4h	0.2105	−0.589%	$47.9M	$60.1M	75x
BingX ENA-USDT	+0.0100%	4h	0.2106	−0.504%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2107	−0.471%	$379K	$377K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2114	−0.155%	$3.8M	$10.2M	—	as long as short
edgeX ENAUSDClong	+0.0100%	4h	0.2117	long leg	$247K	$7.5M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2116	−0.050%	$358K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2116	−0.050%	$32K	$654K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2104	−0.598%	$182K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2058	−2.799%	$1K	$852K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2106	−0.523%	$3K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2111	−0.301%	$275K	$822K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2105	−0.570%	$1.9M	$9.1M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2106	−0.530%	$47K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2104	−0.634%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2118	+0.025%	$7K	$351K	10x	as long as short
Extended ENA-USD	+0.0192%	1h	0.2105	−0.559%	$1.6M	$4.1M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0206%	1h	0.2104	−0.601%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0253%	1h	0.2107	−0.473%	$2.6M	$4.4M	50x	as long as short
Lighter ENA	+0.0384%	1h	0.2109	−0.405%	$5.5M	$13.7M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2104	−0.625%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0482%	1h	0.2109	−0.400%	$113.4M	$71.4M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2108	−0.428%	$827K	$1.6M	50x	as long as short