Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0084%/8h= +9.2% APRpaid last 24h +0.011%

Price spread now: Extended against edgeX+0.444%73s7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as 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−$360.363% of the position

Long on edgeX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.041%+$4 on $10k

Price spread, last 7 days−0.420%−$42 · spread now +0.444%, 7d avg −0.017%

Together, before fees−0.378%+ Points / potential airdropedgeX: Active · Extended: Active · farm board−$38 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Extended is 0.461% dearer against edgeX than usual: you sell high and buy low: +$46 more if the spread goes back to its 7-day average of −0.017%. The two prices were read 73 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	0.2105	0.0100	pay 0.0050% / 4h	2h 06m	$246K	$7.5M	20x
Short	Extended ENA-USD	0.2115	0.0184	get 0.0023% / 1h	6m 16s	$1.6M	$4.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.444%Rate

Funding earned: $17.64
Price spread: +0.444% → −0.017%: $46.12
Slippage, 4 orders: −$22.33
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $27.43
Costs to cover: 0.363%
Break-even: from the start

Slippage from edgeX: live order book, 3 min ago; Extended: 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 edgeX live order book, 3 min ago	7.13 bp	11.6 bp −$12	13.1 bp −$131	44.1 bp −$4,413	doesn't fit
Sell Extended live order book, 3 min ago	1.19 bp	6.9 bp −$7	12.8 bp −$128	doesn't fit	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	0.2115	+0.478%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2115	+0.445%	$87K	—	150x	as long as short
dYdX ENA-USD	+0.0011%	1h	0.2116	+0.501%	$140K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.863%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0035%	4h	0.2114	+0.426%	$44K	$27K	10x	as long as short
01 Exchange ENAUSD	+0.0096%	1h	0.2115	+0.459%	$4K	$302	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2114	+0.416%	$54K	$507K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2115	+0.466%	$680K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2114	+0.401%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2115	+0.459%	$413K	$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	0.2115	+0.467%	$130.4M	$434.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2115	+0.473%	$86.6M	$180.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2115	+0.478%	$20.8M	$104.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2112	+0.345%	$19K	$382K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2115	+0.464%	$78K	$289K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2126	+0.989%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2114	+0.435%	$11.0M	$21.9M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2114	+0.440%	$44.8M	$44.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2117	+0.535%	$24.6M	$16.2M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2113	+0.369%	$48.1M	$59.2M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2114	+0.421%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2108	+0.131%	$381K	$370K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2114	+0.406%	$3.8M	$10.2M	—	as long as short
edgeX ENAUSDClong	+0.0100%	4h	0.2105	long leg	$246K	$7.5M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2104	−0.046%	$355K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2105	−0.011%	$32K	$654K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2114	+0.430%	$183K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2065	−1.926%	$1K	$847K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2115	+0.464%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2122	+0.820%	$276K	$812K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2115	+0.464%	$1.9M	$9.0M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2113	+0.367%	$47K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2115	+0.451%	$74K	$4K	3x	as long as short
Extended ENA-USDshort	+0.0184%	1h	0.2115	+0.444%	$1.6M	$4.1M	50x
Phoenix ENA	+0.0188%	1h	0.2118	+0.587%	$7K	$351K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2114	+0.421%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0252%	1h	0.2116	+0.514%	$2.7M	$4.3M	50x	as long as short
Lighter ENA	+0.0384%	1h	0.2117	+0.578%	$5.5M	$13.7M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2114	+0.416%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0473%	1h	0.2117	+0.540%	$113.8M	$71.4M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2115	+0.478%	$830K	$1.6M	50x	as long as short