Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0164%/8h= −18.0% APRpaid last 24h −0.007%

Price spread now: Binance against Extended+0.066%7-day average +0.033% · 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−$22as in the Price arb table

costs, in and out, $10k−$250.254% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$6 on $10k

Price spread, last 7 days−0.062%−$6 · spread now +0.066%, 7d avg +0.033%

Together, before fees−0.127%+ Points / potential airdropExtended: Active · farm board−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.033% dearer against Extended than usual: you sell high and buy low (spread +0.066% now, against its 7-day average of +0.033%): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 7 days (−0.065% in total) that is about 3.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ENA-USD	0.2115	0.0264	pay 0.0033% / 1h	40m 56s	$1.6M	$4.3M	50x
Short	Binance ENAUSDT	0.2116	0.0100	get 0.0050% / 4h	3h 40m	$131.2M	$446.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Extended. 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 ExtendedbpFee BinancebpOrdersPrice spread, now +0.066%Rate

Funding earned: −$34.44
Price spread: +0.066% → +0.033%: $3.34
Slippage, 4 orders: −$10.37
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$56.47
Costs to cover: 0.254%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; Binance: 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 Extended live order book, 3 min ago	0.24 bp	7.3 bp −$7	16.7 bp −$167	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	0.24 bp	6.9 bp −$7	13.2 bp −$132	56.5 bp −$5,654	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	−0.0014%	1h	0.2117	+0.127%	$377K	$417K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2117	+0.127%	$91K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2117	+0.085%	$97K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0022%	4h	0.2117	+0.094%	$41K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.406%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0042%	1h	0.2119	+0.196%	$140K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2117	+0.104%	$62K	$524K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2117	+0.111%	$669K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2118	+0.151%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2119	+0.204%	$411K	$555K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDTshort	+0.0100%	4h	0.2116	+0.066%	$131.2M	$446.4M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2115	+0.014%	$89.0M	$187.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2115	+0.028%	$20.7M	$109.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2117	+0.099%	$15K	$399K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2118	+0.151%	$84K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	−0.085%	$89K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2115	+0.014%	$10.8M	$20.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2116	+0.052%	$46.3M	$44.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2117	+0.123%	$24.4M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2114	−0.029%	$48.0M	$62.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2115	+0.023%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2118	+0.152%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2119	+0.212%	$247K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2121	+0.271%	$355K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2117	+0.104%	$34K	$710K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2117	+0.090%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2068	−2.213%	$892	$829K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2117	+0.104%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2124	+0.439%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2117	+0.104%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2117	+0.108%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2117	+0.089%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2117	+0.104%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0208%	1h	0.2119	+0.184%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0236%	1h	0.2119	+0.194%	$2.7M	$5.1M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2116	+0.068%	$38K	—	100x	as long as short
Extended ENA-USDlong	+0.0264%	1h	0.2115	long leg	$1.6M	$4.3M	50x
BloFin ENA-USDT	+0.0340%	4h	0.2117	+0.094%	$5.6M	$3.8M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2116	+0.055%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0584%	1h	0.2120	+0.246%	$5.6M	$12.5M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2125	+0.468%	$839K	$1.9M	50x	as long as short
Hyperliquid ENA	+0.0663%	1h	0.2121	+0.279%	$114.3M	$76.4M	10x	as long as short