Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.026%

Price spread now: Injective against MEXC+1.138%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.196%+$20 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 1.138% dearer against MEXC than usual: you sell high and buy low (spread +1.138% now, against zero (this spread has no 7-day history yet)): +$114 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 57 days. Mind the row above: over the last 7 days funding on this pair paid +0.196%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ENA_USDT	0.2099	0.0100	pay 0.0050% / 4h	2h 31m	$45.2M	$48.8M	200x
Short	Injective ENA/USDC PERP	0.2123	0.0033	get 0.0004% / 1h	31m 16s	$522	$57K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.138%Rate

Funding earned: −$14
Price spread: +1.138% → 0.000%: $113.84
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $99.82
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: MEXC: live order book, 3 min ago; Injective: no order-book sample. 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 MEXC live order book, 3 min ago	0.24 bp	2.0 bp −$2	3.8 bp −$38	30.5 bp −$3,054	63.1 bp −$31.6K
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0308%	1h	0.2101	+0.081%	$362K	$485K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0082%	4h	0.2099	−0.024%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	−0.0032%	1h	0.2100	+0.010%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2100	+0.010%	$93K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2100	+0.014%	$96K	—	150x	as long as short
Gate ENA_USDT	+0.0006%	4h	0.2099	−0.024%	$10.4M	$21.5M	50x	as long as short
Injective ENA/USDC PERPshort	+0.0033%	1h	0.2123	+1.138%	$522	$57K	5.5x
Phoenix ENA	+0.0076%	1h	0.2095	−0.191%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2100	+0.024%	$59K	$541K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2099	−0.026%	$47K	$221	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2099	−0.031%	$658K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2101	+0.082%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2100	+0.016%	$403K	$585K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2099	−0.005%	$129.4M	$467.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2099	−0.019%	$87.7M	$193.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2100	+0.010%	$20.3M	$114.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2101	+0.057%	$19K	$435K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2099	−0.024%	$82K	$223K	10x	as long as short
MEXC ENA_USDTlong	+0.0100%	4h	0.2099	long leg	$45.2M	$48.8M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2101	+0.057%	$24.3M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2098	−0.076%	$47.5M	$66.7M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2099	−0.010%	—	$32.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2092	−0.358%	$3.6M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2097	−0.107%	$249K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2094	−0.282%	$359K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2097	−0.119%	$32K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2101	+0.081%	$182K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2049	−2.429%	$898	$807K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2099	−0.024%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2101	+0.071%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2100	+0.024%	$1.9M	$9.3M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2100	+0.044%	$89K	$2K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2099	0.000%	$2.6M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2098	−0.058%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2100	+0.010%	$77K	$11K	3x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0213% / S −0.0161%	1h	0.2100	+0.020%	$50K	—	100x	as long as short
Lighter ENA	+0.0288%	1h	0.2102	+0.114%	$5.7M	$13.2M	10x	as long as short
Hyperliquid ENA	+0.0303%	1h	0.2103	+0.162%	$110.9M	$80.9M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2098	−0.057%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2099	−0.014%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2108	+0.424%	$805K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.8354%	1h	0.2100	+0.014%	$139K	$15K	5x	as long as short