Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.032%

Price spread now: Deribit against SunX+2.576%7-day average +2.416% · you sell dearer than you buy

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

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.136%−$14 on $10k

Price spread, last 4 days (all we have)−0.070%−$7 · spread now +2.576%, 7d avg +2.416%

Together, before fees−0.207%−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.160% dearer against SunX than usual: you sell high and buy low (spread +2.576% now, against its 7-day average of +2.416%): +$16 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ENA-USDT	0.2057	0.0100	pay 0.0050% / 4h	3h 31m	$1K	$852K	20x
Short	Deribit ENA_USDC-PERPETUAL	0.2110	0	get 0.0000% / 1h	31m 24s	$73K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +2.576%Rate

Funding earned: −$21
Price spread: +2.576% → +2.416%: $16.01
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$19.99
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: SunX: live order book, 51 min ago; Deribit: live order book, 3 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, 51 min ago	260.28 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 3 min ago	4.76 bp	8.3 bp −$8	15.4 bp −$154	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	−0.0132%	1h	0.2102	+2.173%	$358K	$403K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0097%	4h	0.2109	+2.523%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUALshort	0.0000%	1h	0.2110	+2.576%	$73K	$1.1M	50x
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2109	+2.522%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+3.208%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0048%	1h	0.2108	+2.450%	$4K	$277	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2107	+2.411%	$56K	$465K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2101	+2.132%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2109	+2.493%	$656K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2109	+2.512%	$1.5M	$3.2M	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	0.2104	+2.248%	$401K	$513K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2109	+2.529%	$128.0M	$414.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2110	+2.552%	$85.4M	$174.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2110	+2.576%	$21.0M	$103.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2100	+2.051%	$22K	$332K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2108	+2.459%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	+1.973%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2109	+2.518%	$11.2M	$22.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2109	+2.518%	$45.7M	$41.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2110	+2.537%	$24.9M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2108	+2.474%	$47.9M	$57.7M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2110	+2.557%	—	$31.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2095	+1.807%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2099	+2.033%	$241K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2101	+2.118%	$352K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2102	+2.168%	$20K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2110	+2.542%	$192K	$2.4M	10x	as long as short
SunX ENA-USDTlong	+0.0100%	4h	0.2057	long leg	$1K	$852K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2110	+2.557%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2104	+2.284%	$273K	$789K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2109	+2.508%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2109	+2.517%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2111	+2.588%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2103	+2.212%	$8K	$274K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0173%	1h	0.2111	+2.591%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0200%	1h	0.2104	+2.284%	$5.2M	$13.2M	10x	as long as short
Hyperliquid ENA	+0.0262%	1h	0.2111	+2.600%	$114.7M	$74.0M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2110	+2.539%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2102	+2.163%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2109	+2.490%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2108	+2.459%	$861K	$1.7M	50x	as long as short
dYdX ENA-USD	+0.1091%	1h	0.2104	+2.251%	$139K	$15K	5x	as long as short