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 −0.003%

Price spread now: Bybit against edgeX−0.025%51s7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as 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−$420.422% of the position

Long on edgeX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 7 days+0.059%+$6 · spread now −0.025%, 7d avg −0.018%

Together, before fees−0.014%+ Points / potential airdropedgeX: Active · farm board−$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ENAUSDC	0.2125	0.0100	pay 0.0050% / 4h	1h 16m	$245K	$7.1M	20x
Short	Bybit ENAUSDT	0.2125	0.0100	get 0.0050% / 4h	1h 16m	$87.0M	$175.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.025%Rate

Funding earned: $0
Price spread: −0.025% → −0.018%: −$0.7
Slippage, 4 orders: −$22.22
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$42.92
Costs to cover: 0.422%
Break-even: never at this rate

Slippage from edgeX: live order book, 2 min ago; Bybit: live order book, 2 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, 2 min ago	7.05 bp	11.6 bp −$12	13.1 bp −$131	43.7 bp −$4,371	doesn't fit
Sell Bybit live order book, 2 min ago	0.23 bp	8.2 bp −$8	16.3 bp −$163	61.9 bp −$6,192	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	−0.0024%	4h	0.2126	+0.027%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2126	+0.032%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2126	+0.025%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2125	+0.013%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.086%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2125	−0.010%	$55K	$498K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2125	−0.022%	$667K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2128	+0.117%	$114.6M	$71.6M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2127	+0.086%	$1.5M	$3.0M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2126	+0.039%	$415K	$506K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2125	+0.005%	$130.2M	$418.2M	75x	as long as short
Bybit ENAUSDTshort	+0.0100%	4h	0.2125	−0.025%	$87.0M	$175.2M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2125	−0.006%	$20.9M	$102.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2118	−0.335%	$19K	$358K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2127	+0.084%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	−0.875%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2127	+0.060%	$11.1M	$21.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2127	+0.060%	$46.0M	$42.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2128	+0.112%	$24.8M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2124	−0.072%	$48.4M	$57.6M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2126	+0.032%	—	$32.2M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2127	+0.084%	$377K	$364K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2118	−0.342%	$3.4M	$9.9M	—	as long as short
edgeX ENAUSDClong	+0.0100%	4h	0.2125	long leg	$245K	$7.1M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2127	+0.062%	$358K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2121	−0.199%	$22K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2126	+0.018%	$184K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2074	−2.406%	$1K	$840K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2125	−0.010%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.178%	$278K	$780K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2125	−0.010%	$1.9M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2127	+0.067%	$48K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2125	+0.006%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2126	+0.030%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2129	+0.178%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2126	+0.035%	$51K	—	100x	as long as short
dYdX ENA-USD	+0.0263%	1h	0.2126	+0.055%	$140K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0283%	1h	0.2126	+0.056%	$2.7M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2125	+0.008%	$5.6M	$3.1M	75x	as long as short
Lighter ENA	+0.0352%	1h	0.2127	+0.074%	$5.4M	$13.9M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2125	−0.014%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2122	−0.166%	$836K	$1.5M	50x	as long as short