Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0260%/8h= −28.5% APRpaid last 24h −0.006%

Price spread now: SunX against Extended−2.960%7-day average −2.331% · you buy dearer than you sell

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

Long on Extended Short on SunX

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.908%+$91 · spread now −2.960%, 7d avg −2.331%

Together, before fees+0.872%+ Points / potential airdropExtended: Active · farm board+$87 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and SunX is 0.629% cheaper against Extended than usual: you would sell low and buy high (−$63 if the spread goes back to its 7-day average of −2.331%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.036% in total (about -1.9% 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	0.2125	0.0360	pay 0.0045% / 1h	53m 34s	$1.6M	$4.2M	50x
Short	SunX ENA-USDT	0.2062	0.0100	get 0.0050% / 4h	53m 34s	$1K	$820K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −2.960%Rate

Funding earned: −$54.6
Price spread: −2.960% → −2.331%: −$62.88
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$130.48
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 5 min ago; SunX: live order book, 8 min ago. 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 Extended live order book, 5 min ago	0.94 bp	6.1 bp −$6	12.6 bp −$126	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	265.66 bp	doesn't fit	doesn't fit	doesn't fit	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	−0.0095%	1h	0.2114	−0.527%	$373K	$447K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0035%	4h	0.2113	−0.560%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2114	−0.503%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2128	+0.137%	$106K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.075%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2128	+0.141%	$63K	$529K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2128	+0.146%	$683K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2124	−0.054%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2123	−0.085%	$411K	$573K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2128	+0.156%	$131.6M	$455.4M	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	0.2129	+0.170%	$89.4M	$191.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2128	+0.160%	$20.6M	$112.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2114	−0.527%	$16K	$400K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2126	+0.047%	$84K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2122	−0.160%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2126	+0.028%	$10.9M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2128	+0.132%	$47.0M	$45.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2130	+0.235%	$24.5M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2126	+0.047%	$48.2M	$64.9M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2125	+0.014%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2119	−0.303%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2116	−0.424%	$251K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2116	−0.423%	$351K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2123	−0.094%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2129	+0.179%	$179K	$2.6M	10x	as long as short
SunX ENA-USDTshort	+0.0100%	4h	0.2062	−2.960%	$1K	$820K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2113	−0.565%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	−0.376%	$274K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2113	−0.565%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2122	−0.139%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2114	−0.529%	$78K	$11K	3x	as long as short
01 Exchange ENAUSD	+0.0136%	1h	0.2126	+0.066%	$4K	$312	10x	as long as short
Phoenix ENA	+0.0189%	1h	0.2115	−0.452%	$5K	$347K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0242%	1h	0.2115	−0.493%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2114	−0.494%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2117	−0.390%	$5.6M	$8.1M	75x	as long as short
Extended ENA-USDlong	+0.0360%	1h	0.2125	long leg	$1.6M	$4.2M	50x
Reya ENARUSDPERP	+0.0412%	1h	0.2127	+0.078%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0488%	1h	0.2126	+0.038%	$5.7M	$12.8M	10x	as long as short
Hyperliquid ENA	+0.0552%	1h	0.2132	+0.311%	$114.3M	$78.7M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2125	−0.005%	$839K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1669%	1h	0.2122	−0.140%	$140K	$15K	5x	as long as short