Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.082%

Price spread now: Hyperliquid against SunX+2.782%52s7-day average +2.476% · you sell dearer than you buy

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

Long on SunX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.245%+$25 on $10k

Price spread, last 4 days (all we have)−1.034%−$103 · spread now +2.782%, 7d avg +2.476%

Together, before fees−0.789%+ Points / potential airdropHyperliquid: Season 2 · farm board−$79 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.305% dearer against SunX than usual: you sell high and buy low, +$31 on $10k if it goes back to its 7-day average of +2.476%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ENA-USDT	0.2081	0.0100	pay 0.0050% / 4h	3h 23m	$1K	$931K	20x
Short	Hyperliquid ENA	0.2139	0.0100	get 0.0013% / 1h	23m 20s	$116.3M	$76.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +2.782%Rate

Funding earned: $0
Price spread: +2.782% → +2.476%: $30.55
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $13.55
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: SunX: live order book, 19 min ago; Hyperliquid: live order book, 10 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, 19 min ago	256.89 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	2.82 bp	11.0 bp −$11	doesn't fit	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
01 Exchange ENAUSD	−0.0120%	1h	0.2134	+2.522%	$4K	$169	10x	as long as short
Orderly PERP_ENA_USDC	−0.0104%	4h	0.2139	+2.782%	$44K	$15K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2132	+2.417%	$76K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2121	+1.904%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	+1.936%	$734	$57K	5.5x	as long as short
Phemex ENAUSDT	+0.0071%	4h	0.2131	+2.388%	$1.8M	$8.9M	50x	as long as short
Bitget ENAUSDT	+0.0078%	4h	0.2138	+2.739%	$48.4M	$61.0M	75x	as long as short
Gate ENA_USDT	+0.0092%	4h	0.2137	+2.691%	$13.4M	$27.9M	50x	as long as short
Lighter ENA	+0.0096%	1h	0.2137	+2.662%	$5.0M	$13.0M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2135	+2.580%	$55K	$498K	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	+0.0099%	8h	0.2134	+2.538%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2135	+2.568%	$565K	$1.8M	10x	as long as short
Hyperliquid ENAshort	+0.0100%	1h	0.2139	+2.782%	$116.3M	$76.0M	10x
Aster ENAUSDT	+0.0100%	4h	0.2138	+2.708%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2134	+2.542%	$410K	$562K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2139	+2.756%	$129.0M	$430.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2140	+2.830%	$89.0M	$194.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2140	+2.835%	$21.2M	$109.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2120	+1.874%	$38K	$327K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2134	+2.532%	$78K	$283K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	+1.501%	$92K	$511	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2138	+2.724%	$41.7M	$43.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2137	+2.700%	$25.1M	$16.0M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2139	+2.777%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2133	+2.489%	$412K	$479K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2114	+1.592%	$3.0M	$9.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2120	+1.859%	$248K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2120	+1.859%	$356K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2117	+1.715%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2137	+2.676%	$176K	$2.6M	10x	as long as short
SunX ENA-USDTlong	+0.0100%	4h	0.2081	long leg	$1K	$931K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2130	+2.340%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2134	+2.551%	$265K	$843K	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2139	+2.785%	$1.6M	$4.7M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2139	+2.783%	$75K	$4K	3x	as long as short
dYdX ENA-USD	+0.0105%	1h	0.2123	+2.008%	$140K	$16K	5x	as long as short
Phoenix ENA	+0.0150%	1h	0.2119	+1.811%	$13K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0196%	1h	0.2131	+2.397%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0756%	1h	0.2131	+2.371%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2120	+1.840%	$5.6M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2137	+2.655%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2118	+1.778%	$786K	$2.0M	50x	as long as short