Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0312%/8h= −34.1% APRpaid last 24h −0.093%

Price spread now: SunX against Reya−2.327%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 SunX

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 SunX is 2.327% cheaper against Reya than usual: you would sell low and buy high (−$233 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	0.2153	0.0412	pay 0.0051% / 1h	6m 13s	$1K	$5K	15x
Short	SunX ENA-USDT	0.2102	0.0100	get 0.0050% / 4h	3h 06m	$1K	$833K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −2.327%Rate

Funding earned: −$65.48
Price spread: −2.327% → 0.000%: −$232.73
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee SunX: 4 bp × 2 orders: −$8
Net: −$312.22
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; SunX: live order book, 46 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 SunX live order book, 46 min ago	330.91 bp	doesn't fit	doesn't fit	doesn't fit	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2155	+0.126%	$80K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2154	+0.066%	$88K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0030%	4h	0.2154	+0.042%	$42K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.356%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2154	+0.065%	$53K	$523K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2153	−0.002%	$716K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2156	+0.147%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2156	+0.172%	$425K	$550K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2154	+0.046%	$134.6M	$441.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2151	−0.065%	$88.3M	$186.2M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2153	+0.028%	$21.2M	$110.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2160	+0.335%	$16K	$414K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2157	+0.204%	$107K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2167	+0.669%	$95K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2153	+0.033%	$11.0M	$21.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2153	+0.005%	$45.5M	$45.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2154	+0.065%	$24.8M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2151	−0.065%	$48.8M	$61.1M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2154	+0.056%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2167	+0.669%	$385K	$377K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2153	+0.007%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2169	+0.743%	$250K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2169	+0.782%	$361K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2169	+0.762%	$33K	$686K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2153	+0.037%	$179K	$2.4M	10x	as long as short
SunX ENA-USDTshort	+0.0100%	4h	0.2102	−2.327%	$1K	$833K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2156	+0.158%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2158	+0.270%	$279K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2152	−0.028%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2155	+0.111%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2155	+0.089%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2169	+0.771%	$8K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0168%	1h	0.2155	+0.116%	$4K	$302	10x	as long as short
dYdX ENA-USD	+0.0175%	1h	0.2158	+0.259%	$143K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0232%	1h	0.2157	+0.219%	$2.7M	$5.1M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0334% / S −0.0430%	1h	0.2154	+0.064%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2166	+0.618%	$5.7M	$2.0M	75x	as long as short
Extended ENA-USD	+0.0360%	1h	0.2154	+0.059%	$1.6M	$4.3M	50x	as long as short
Reya ENARUSDPERPlong	+0.0412%	1h	0.2153	long leg	$1K	$5K	15x
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2162	+0.437%	$855K	$1.8M	50x	as long as short
Hyperliquid ENA	+0.0775%	1h	0.2156	+0.153%	$116.7M	$74.2M	10x	as long as short
Lighter ENA	+0.0776%	1h	0.2159	+0.279%	$5.9M	$13.2M	10x	as long as short