Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.026%

Price spread now: Injective against edgeX+0.271%7-day average — · you sell dearer than you buy

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

Long on edgeX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.157%+$16 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

The price spread pays, funding is against you. Injective is 0.271% dearer against edgeX than usual: you sell high and buy low (spread +0.271% now, against zero (this spread has no 7-day history yet)): +$27 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 14 days. Mind the row above: over the last 7 days funding on this pair paid +0.157%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ENAUSDC	0.2118	0.0100	pay 0.0050% / 4h	57m 18s	$252K	$7.6M	20x
Short	Injective ENA/USDC PERP	0.2123	0.0033	get 0.0004% / 1h	57m 18s	$522	$57K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.271%Rate

Funding earned: −$14
Price spread: +0.271% → 0.000%: $27.14
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $4.12
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: edgeX: live order book, 2 min ago; Injective: no order-book sample. 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 edgeX live order book, 2 min ago	7.09 bp	11.6 bp −$12	13.1 bp −$131	43.9 bp −$4,392	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0125%	1h	0.2122	+0.210%	$375K	$447K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0035%	4h	0.2121	+0.163%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2122	+0.210%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2123	+0.273%	$106K	—	150x	as long as short
Injective ENA/USDC PERPshort	+0.0033%	1h	0.2123	+0.271%	$522	$57K	5.5x
Popdex ENAUSDT	+0.0096%	1h	0.2122	+0.205%	$63K	$531K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2123	+0.250%	$682K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2123	+0.245%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2122	+0.209%	$410K	$573K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2122	+0.213%	$131.2M	$455.6M	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	0.2121	+0.177%	$89.2M	$190.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2122	+0.191%	$20.6M	$112.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2117	−0.012%	$15K	$400K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2123	+0.252%	$83K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2122	+0.186%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2123	+0.262%	$10.8M	$21.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2124	+0.281%	$46.8M	$45.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2124	+0.304%	$24.5M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2121	+0.163%	$48.1M	$64.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2123	+0.267%	—	$32.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2115	−0.118%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDClong	+0.0100%	4h	0.2118	long leg	$252K	$7.6M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	−0.032%	$351K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	+0.016%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2124	+0.281%	$179K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2072	−2.175%	$1K	$820K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2122	+0.205%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2124	+0.309%	$275K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2122	+0.205%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2122	+0.216%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2122	+0.187%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2120	+0.130%	$5K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0160%	1h	0.2124	+0.295%	$4K	$312	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0241%	1h	0.2123	+0.240%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2123	+0.263%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2123	+0.267%	$5.6M	$8.1M	75x	as long as short
Extended ENA-USD	+0.0360%	1h	0.2121	+0.171%	$1.6M	$4.2M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2123	+0.235%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2125	+0.342%	$839K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0555%	1h	0.2127	+0.432%	$112.5M	$78.7M	10x	as long as short
Lighter ENA	+0.0624%	1h	0.2124	+0.314%	$5.7M	$12.8M	10x	as long as short
dYdX ENA-USD	+0.1936%	1h	0.2122	+0.200%	$140K	$15K	5x	as long as short