Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0244%/8h= −26.7% APRpaid last 24h −0.002%

Price spread now: MEXC against Extended+0.025%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$120.120% of the position

Long on Extended Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 7 days−0.042%−$4 · spread now +0.025%, 7d avg +0.027%

Together, before fees−0.114%+ Points / potential airdropExtended: Active · farm board−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.027%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.072% in total (about -3.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ENA-USD	0.2097	0.0344	pay 0.0043% / 1h	10m 19s	$1.6M	$4.1M	50x
Short	MEXC ENA_USDT	0.2097	0.0100	get 0.0050% / 4h	1h 10m	$46.5M	$47.0M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$51.24
Price spread: +0.025% → +0.027%: −$0.22
Slippage, 4 orders: −$7.02
Fee Extended: 2.5 bp × 2 orders: −$5
Fee MEXC: 0 bp × 2 orders: $0
Net: −$63.48
Costs to cover: 0.120%
Break-even: never at this rate

Slippage from Extended: live order book, 4 min ago; MEXC: live order book, 4 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, 4 min ago	0.24 bp	5.3 bp −$5	12.8 bp −$128	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.24 bp	0.6 bp −$1	4.6 bp −$46	29.8 bp −$2,980	61.1 bp −$30.6K

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	−0.0042%	4h	0.2097	+0.011%	$41K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0026%	1h	0.2101	+0.226%	$371K	$447K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2098	+0.049%	$91K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2097	+0.035%	$101K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.280%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2099	+0.112%	$2.6M	$5.5M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2096	−0.027%	$61K	$530K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2096	−0.013%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2098	+0.071%	$660K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2099	+0.131%	$1.5M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2098	+0.076%	$406K	$576K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2098	+0.076%	$129.5M	$454.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2098	+0.054%	$87.2M	$190.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2099	+0.130%	$20.3M	$111.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2095	−0.061%	$15K	$396K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2098	+0.068%	$82K	$220K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2099	+0.129%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2097	+0.006%	$10.5M	$21.3M	50x	as long as short
MEXC ENA_USDTshort	+0.0100%	4h	0.2097	+0.025%	$46.5M	$47.0M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2098	+0.049%	$23.9M	$16.3M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2095	−0.075%	$47.4M	$64.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2097	+0.001%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	+0.028%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2096	−0.046%	$249K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2096	−0.041%	$350K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2096	−0.027%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2097	+0.016%	$176K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2047	−2.379%	$1K	$816K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2098	+0.068%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2099	+0.140%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2097	+0.021%	$1.9M	$9.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2097	+0.044%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2098	+0.063%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0144%	1h	0.2097	+0.044%	$4K	$332	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0245% / S −0.0422%	1h	0.2096	−0.015%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2099	+0.097%	$5.5M	$8.0M	75x	as long as short
Extended ENA-USDlong	+0.0344%	1h	0.2097	long leg	$1.6M	$4.1M	50x
Reya ENARUSDPERP	+0.0412%	1h	0.2096	−0.038%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0528%	1h	0.2101	+0.197%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2100	+0.168%	$827K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0584%	1h	0.2100	+0.149%	$110.9M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1981%	1h	0.2098	+0.058%	$139K	$15K	5x	as long as short