Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.011%

Price spread now: Bitget against MEXC−0.019%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on MEXC Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.006%+$1 on $10k

Price spread, last 7 days−0.014%−$1 · spread now −0.019%, 7d avg −0.059%

Together, before fees−0.008%−$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.041% dearer against MEXC than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ENA_USDT	0.2137	0.0100	pay 0.0050% / 4h	1h 42m	$48.3M	$42.2M	200x
Short	Bitget ENAUSDT	0.2137	0.0100	get 0.0050% / 4h	1h 42m	$48.5M	$60.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against MEXC. 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 MEXCbpFee BitgetbpOrdersPrice spread, now −0.019%Rate

Funding earned: $0
Price spread: −0.019% → −0.059%: $4.08
Slippage, 4 orders: −$14.11
Fee MEXC: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$22.03
Costs to cover: 0.261%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Bitget: live order book, 1 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 MEXC live order book, 1 min ago	0.23 bp	2.9 bp −$3	7.0 bp −$70	42.5 bp −$4,253	65.0 bp −$32.5K
Sell Bitget live order book, 1 min ago	0.47 bp	13.0 bp −$13	20.8 bp −$208	45.1 bp −$4,507	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
Orderly PERP_ENA_USDC	−0.0132%	4h	0.2143	+0.267%	$45K	$26K	10x	as long as short
01 Exchange ENAUSD	−0.0016%	1h	0.2138	+0.028%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2143	+0.290%	$67K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2144	+0.298%	$83K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.646%	$522	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2140	+0.136%	$5.1M	$13.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2138	+0.037%	$57K	$481K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2142	+0.220%	$567K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2140	+0.150%	$115.4M	$76.6M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2139	+0.070%	$1.4M	$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	0.2138	+0.029%	$404K	$540K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2137	+0.014%	$128.9M	$428.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2138	+0.023%	$85.6M	$181.6M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2138	+0.047%	$21.4M	$109.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2143	+0.267%	$20K	$322K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2137	−0.009%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2138	+0.037%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2137	+0.005%	$12.4M	$26.1M	50x	as long as short
MEXC ENA_USDTlong	+0.0100%	4h	0.2137	long leg	$48.3M	$42.2M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2139	+0.066%	$24.7M	$15.8M	75x	as long as short
Bitget ENAUSDTshort	+0.0100%	4h	0.2137	−0.019%	$48.5M	$60.2M	75x
BingX ENA-USDC	+0.0100%	4h	0.2137	+0.005%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2139	+0.083%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2143	+0.267%	$256K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2141	+0.188%	$358K	$5.1M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2146	+0.412%	$19K	$649K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2138	+0.056%	$188K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2094	−2.003%	$937	$899K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2142	+0.225%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2147	+0.454%	$269K	$824K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2143	+0.271%	$1.8M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2138	+0.015%	$48K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2136	−0.041%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2144	+0.302%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2142	+0.234%	$8K	$276K	10x	as long as short
dYdX ENA-USD	+0.0131%	1h	0.2139	+0.086%	$141K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0753%	1h	0.2144	+0.315%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2143	+0.267%	$5.7M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2137	−0.009%	$1K	$5K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0440%	1h	0.2144	+0.339%	$2.7M	$4.3M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2149	+0.566%	$887K	$1.8M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0642%	1h	0.2143	+0.271%	$395K	$434K	5x	as long as short