Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0532%/8h= +58.3% APRpaid last 24h +0.140%

Price spread now: Coinbase International against SunX+3.150%7-day average +2.530% · you sell dearer than you buy

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

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.473%+$47 on $10k

Price spread, last 4 days (all we have)−0.990%−$99 · spread now +3.150%, 7d avg +2.530%

Together, before fees−0.517%−$52 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Coinbase International is 0.619% dearer against SunX than usual: you sell high and buy low: +$62 more if the spread goes back to its 7-day average of +2.530%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ENA-USDT	0.2064	0.0100	pay 0.0050% / 4h	29m 21s	$1K	$845K	20x
Short	Coinbase International ENA-PERP-INTX	0.2129	0.0632	get 0.0079% / 1h	29m 21s	$869K	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now +3.150%Rate

Funding earned: $111.72
Price spread: +3.150% → +2.530%: $61.92
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $155.64
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: SunX: live order book, 63 min ago; Coinbase International: 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 SunX live order book, 63 min ago	258.55 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	8.54 bp	18.1 bp −$18	27.9 bp −$279	doesn't fit	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
Backpack ENA_USDC_PERP	−0.0206%	1h	0.2138	+3.586%	$369K	$390K	5x	as long as short
01 Exchange ENAUSD	−0.0096%	1h	0.2128	+3.135%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0068%	4h	0.2123	+2.893%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2115	+2.471%	$79K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2124	+2.922%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+2.893%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2114	+2.452%	$8K	$266K	10x	as long as short
dYdX ENA-USD	+0.0096%	1h	0.2130	+3.196%	$141K	$15K	5x	as long as short
Lighter ENA	+0.0096%	1h	0.2132	+3.295%	$5.3M	$13.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2125	+2.970%	$56K	$482K	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0100%	8h	0.2129	+3.151%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2126	+3.024%	$656K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2128	+3.135%	$116.1M	$74.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2129	+3.164%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2130	+3.203%	$407K	$516K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2125	+2.959%	$129.6M	$416.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2124	+2.907%	$85.8M	$176.6M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2125	+2.966%	$21.0M	$104.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2118	+2.631%	$20K	$318K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2128	+3.116%	$80K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2093	+1.420%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2125	+2.980%	$11.2M	$22.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2129	+3.140%	$46.2M	$41.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2128	+3.111%	$24.9M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2125	+2.951%	$48.3M	$57.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2124	+2.936%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2112	+2.344%	$3.0M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2111	+2.310%	$243K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2113	+2.365%	$349K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2104	+1.953%	$20K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2127	+3.067%	$183K	$2.3M	10x	as long as short
SunX ENA-USDTlong	+0.0100%	4h	0.2064	long leg	$1K	$845K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2114	+2.437%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2134	+3.426%	$276K	$794K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2127	+3.067%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2127	+3.074%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2114	+2.462%	$74K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0242%	1h	0.2116	+2.545%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0254% / S −0.0213%	1h	0.2124	+2.915%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2112	+2.355%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2127	+3.046%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTXshort	+0.0632%	1h	0.2129	+3.150%	$869K	$1.5M	50x