Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0312%/8h= −34.1% APRpaid last 24h −0.094%

Price spread now: MEXC against Reya−0.103%7-day average — · you buy dearer than you sell

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

Long on Reya Short on MEXC

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

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and MEXC is 0.103% cheaper against Reya than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ENARUSDPERP	0.2183	0.0412	pay 0.0051% / 1h	12m 10s	$1K	$5K	15x
Short	MEXC ENA_USDT	0.2180	0.0100	get 0.0050% / 4h	2h 12m	$48.2M	$42.0M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.103%Rate

Funding earned: −$65.44
Price spread: −0.103% → 0.000%: −$10.27
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee MEXC: 0 bp × 2 orders: $0
Net: −$81.71
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; MEXC: live order book, 2 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 MEXC live order book, 2 min ago	0.23 bp	3.2 bp −$3	11.0 bp −$110	43.9 bp −$4,385	70.7 bp −$35.3K

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
Orderly PERP_ENA_USDC	−0.0136%	4h	0.2182	−0.006%	$45K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2182	−0.025%	$70K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2182	−0.009%	$85K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−2.714%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0056%	1h	0.2181	−0.061%	$4K	$277	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2182	−0.029%	$54K	$476K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2181	−0.057%	$565K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2185	+0.099%	$118.5M	$75.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2181	−0.059%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2182	−0.010%	$410K	$528K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2180	−0.139%	$132.2M	$425.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2180	−0.135%	$88.3M	$178.6M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2178	−0.231%	$21.8M	$109.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2180	−0.107%	$21K	$336K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2182	−0.029%	$81K	$280K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2182	−0.052%	$96K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2183	+0.007%	$11.6M	$24.5M	50x	as long as short
MEXC ENA_USDTshort	+0.0100%	4h	0.2180	−0.103%	$48.2M	$42.0M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2180	−0.098%	$25.4M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2176	−0.286%	$49.4M	$58.9M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2178	−0.203%	—	$31.1M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2174	−0.405%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2175	−0.345%	$253K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2177	−0.258%	$365K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2178	−0.213%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2183	+0.026%	$194K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2129	−2.444%	$1K	$888K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2181	−0.075%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2188	+0.227%	$274K	$806K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2179	−0.167%	$1.8M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2181	−0.089%	$49K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2180	−0.108%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2184	+0.042%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2174	−0.387%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0157%	1h	0.2183	+0.004%	$2.7M	$4.3M	50x	as long as short
dYdX ENA-USD	+0.0228%	1h	0.2182	−0.045%	$144K	$16K	5x	as long as short
Lighter ENA	+0.0248%	1h	0.2182	−0.052%	$5.3M	$13.4M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0310% / S −0.0753%	1h	0.2182	−0.036%	$60K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2193	+0.470%	$5.6M	$3.3M	75x	as long as short
Reya ENARUSDPERPlong	+0.0412%	1h	0.2183	long leg	$1K	$5K	15x
Backpack ENA_USDC_PERP	+0.0665%	1h	0.2180	−0.112%	$368K	$401K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2184	+0.071%	$893K	$1.8M	50x	as long as short