Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0718%/8h= +78.6% APRpaid last 24h +0.619%

Price spread now: dYdX against SunX+2.834%7-day average +2.364% · you sell dearer than you buy

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

Long on SunX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.065%+$107 on $10k

Price spread, last 4 days (all we have)−0.575%−$57 · spread now +2.834%, 7d avg +2.364%

Together, before fees+0.491%+$49 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$22 a day on $10k at the current rate, and dYdX is 0.471% dearer against SunX than usual: you sell high and buy low: +$47 more if the spread goes back to its 7-day average of +2.364%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ENA-USDT	0.2049	0.0100	pay 0.0050% / 4h	42m 41s	$1K	$903K	20x
Short	dYdX ENA-USD	0.2107	0.0818	get 0.0102% / 1h	42m 41s	$139K	$16K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +2.834%Rate

Funding earned: $150.78
Price spread: +2.834% → +2.364%: $47.08
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: $179.86
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: SunX: live order book, 10 min ago; dYdX: live order book, 61 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, 10 min ago	262.95 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 61 min ago	37.85 bp	45.6 bp −$46	347.9 bp −$3,479	705.1 bp −$70.5K	1574.9 bp −$787.4K

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	−0.0561%	1h	0.2095	+2.269%	$54K	$1.1M	50x	as long as short
Orderly PERP_ENA_USDC	−0.0100%	4h	0.2095	+2.230%	$44K	$21K	10x	as long as short
01 Exchange ENAUSD	−0.0032%	1h	0.2118	+3.358%	$4K	$277	10x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2108	+2.873%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+3.631%	$522	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2110	+2.992%	$5.0M	$13.8M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2117	+3.319%	$55K	$478K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2109	+2.909%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2117	+3.299%	$560K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2107	+2.836%	$114.2M	$75.1M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2109	+2.922%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2109	+2.918%	$405K	$560K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2109	+2.914%	$128.0M	$426.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2108	+2.865%	$90.5M	$187.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2109	+2.938%	$21.1M	$107.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2102	+2.562%	$33K	$317K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2108	+2.879%	$78K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	+3.117%	$92K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2105	+2.723%	$12.8M	$26.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2108	+2.865%	$38.8M	$42.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2109	+2.953%	$24.9M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2108	+2.875%	$47.9M	$59.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2108	+2.894%	—	$31.4M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2105	+2.743%	$411K	$490K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2121	+3.525%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2123	+3.601%	$257K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2115	+3.226%	$365K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2117	+3.319%	$19K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2118	+3.372%	$183K	$2.6M	10x	as long as short
SunX ENA-USDTlong	+0.0100%	4h	0.2049	long leg	$1K	$903K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2100	+2.489%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2105	+2.723%	$265K	$817K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2102	+2.587%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2104	+2.703%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2094	+2.181%	$73K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0150%	1h	0.2099	+2.424%	$2.6M	$4.4M	50x	as long as short
Phoenix ENA	+0.0190%	1h	0.2119	+3.431%	$8K	$273K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0754%	1h	0.2117	+3.336%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2097	+2.367%	$5.5M	$3.3M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2117	+3.310%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2102	+2.577%	$868K	$1.8M	50x	as long as short
dYdX ENA-USDshort	+0.0818%	1h	0.2107	+2.834%	$139K	$16K	5x