Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0148%/8h= −16.2% APRpaid last 24h −0.006%

Price spread now: edgeX against Extended−0.149%53s7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as 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−$330.329% of the position

Long on Extended Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 7 days+0.111%+$11 · spread now −0.149%, 7d avg +0.011%

Together, before fees+0.075%+ Points / potential airdropExtended: Active · edgeX: Active · farm board+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and edgeX is 0.160% cheaper against Extended than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.011%). Swap the legs. The two prices were read 53 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	Extended ENA-USD	0.2125	0.0248	pay 0.0031% / 1h	2m 21s	$1.6M	$4.2M	50x
Short	edgeX ENAUSDC	0.2122	0.0100	get 0.0050% / 4h	2m 21s	$246K	$7.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.149%Rate

Funding earned: −$31.08
Price spread: −0.149% → +0.011%: −$15.98
Slippage, 4 orders: −$18.91
Fee Extended: 2.5 bp × 2 orders: −$5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$79.97
Costs to cover: 0.329%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; edgeX: 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 Extended live order book, 2 min ago	0.23 bp	5.5 bp −$6	12.9 bp −$129	doesn't fit	doesn't fit
Sell edgeX live order book, 2 min ago	7.05 bp	11.5 bp −$12	13.1 bp −$131	43.9 bp −$4,387	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2129	+0.174%	$95K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2129	+0.160%	$97K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0012%	4h	0.2128	+0.117%	$41K	$24K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.085%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0057%	1h	0.2129	+0.169%	$379K	$445K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2126	+0.037%	$63K	$527K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2126	+0.047%	$682K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2128	+0.114%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2127	+0.096%	$411K	$559K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2127	+0.108%	$131.9M	$449.5M	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	0.2128	+0.141%	$89.4M	$189.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2129	+0.164%	$20.7M	$110.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2127	+0.061%	$15K	$395K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2127	+0.084%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2126	+0.034%	$90K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2127	+0.080%	$10.8M	$21.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2127	+0.070%	$46.5M	$45.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2127	+0.103%	$24.6M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2125	−0.014%	$48.2M	$63.3M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2128	+0.150%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2121	−0.181%	$3.9M	$10.2M	—	as long as short
edgeX ENAUSDCshort	+0.0100%	4h	0.2122	−0.149%	$246K	$7.6M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2123	−0.098%	$360K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2123	−0.104%	$34K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2128	+0.122%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2078	−2.226%	$1K	$829K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2128	+0.131%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2130	+0.226%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2127	+0.084%	$1.9M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2127	+0.070%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2131	+0.253%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2125	−0.024%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0208%	1h	0.2128	+0.141%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2129	+0.202%	$2.7M	$5.2M	50x	as long as short
Extended ENA-USDlong	+0.0248%	1h	0.2125	long leg	$1.6M	$4.2M	50x
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2127	+0.101%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2127	+0.103%	$5.6M	$4.7M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2127	+0.073%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2133	+0.386%	$842K	$1.9M	50x	as long as short
Lighter ENA	+0.0560%	1h	0.2129	+0.169%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0745%	1h	0.2130	+0.221%	$114.8M	$78.3M	10x	as long as short
dYdX ENA-USD	+0.1078%	1h	0.2128	+0.124%	$141K	$15K	5x	as long as short