Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0072%/8h= −7.9% APRpaid last 24h −0.025%

Price spread now: BloFin against Reya+0.070%7-day average — · you sell dearer than you buy

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

Long on Reya Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. BloFin is 0.070% dearer against Reya than usual: you sell high and buy low (spread +0.070% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ENARUSDPERP	0.2092	0.0412	pay 0.0051% / 1h	29m 15s	$1K	$5K	15x
Short	BloFin ENA-USDT	0.2093	0.0340	get 0.0170% / 4h	1h 29m	$5.5M	$8.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Reya. 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 ReyabpFee BloFinbpOrdersPrice spread, now +0.070%Rate

Funding earned: −$15.11
Price spread: +0.070% → 0.000%: $7
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$26.1
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; BloFin: live order book, 4 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 Reya no order-book sample	—	—	—	—	—
Sell BloFin live order book, 4 min ago	3.10 bp	10.4 bp −$10	18.6 bp −$186	72.7 bp −$7,273	doesn't fit

Reya: 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	−0.0089%	1h	0.2089	−0.107%	$360K	$461K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0061%	4h	0.2092	+0.013%	$40K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2092	+0.041%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2093	+0.047%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.519%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2094	+0.134%	$2.6M	$5.6M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2092	+0.017%	$61K	$537K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2091	−0.052%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2091	−0.052%	$657K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2092	+0.015%	$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	0.2092	+0.019%	$405K	$578K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2093	+0.049%	$129.0M	$457.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2092	+0.032%	$87.0M	$191.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2093	+0.056%	$20.2M	$112.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2091	−0.035%	$15K	$405K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2092	+0.017%	$82K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2088	−0.150%	$88K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2092	+0.032%	$10.4M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2092	+0.022%	$45.2M	$46.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2093	+0.051%	$23.9M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2091	−0.026%	$47.3M	$65.2M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2092	+0.017%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2090	−0.093%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2095	+0.164%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2090	−0.078%	$347K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2095	+0.161%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2092	+0.017%	$183K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2043	−2.344%	$1K	$815K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2093	+0.065%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2095	+0.161%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2092	+0.017%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2093	+0.058%	$77K	$11K	3x	as long as short
01 Exchange ENAUSD	+0.0112%	1h	0.2093	+0.070%	$4K	$432	10x	as long as short
Phoenix ENA	+0.0115%	1h	0.2091	−0.049%	$5K	$356K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0233% / S −0.0393%	1h	0.2092	+0.035%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0296%	1h	0.2092	+0.025%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDTshort	+0.0340%	4h	0.2093	+0.070%	$5.5M	$8.0M	75x
Reya ENARUSDPERPlong	+0.0412%	1h	0.2092	long leg	$1K	$5K	15x
Lighter ENA	+0.0512%	1h	0.2095	+0.180%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0576%	1h	0.2095	+0.161%	$110.6M	$79.6M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2092	+0.017%	$804K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1922%	1h	0.2091	−0.053%	$138K	$15K	5x	as long as short