Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.023%

Price spread now: Injective against SunX+3.318%7-day average — · you sell dearer than you buy

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

Long on SunX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.160%+$16 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 3.318% dearer against SunX than usual: you sell high and buy low (spread +3.318% now, against zero (this spread has no 7-day history yet)): +$332 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6 months. Mind the row above: over the last 7 days funding on this pair paid +0.160%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ENA-USDT	0.2055	0.0100	pay 0.0050% / 4h	53m 05s	$1K	$903K	20x
Short	Injective ENA/USDC PERP	0.2123	0.0033	get 0.0004% / 1h	53m 05s	$522	$57K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +3.318%Rate

Funding earned: −$14
Price spread: +3.318% → 0.000%: $331.84
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $309.82
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SunX: live order book, 69 min ago; Injective: no order-book sample. 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, 69 min ago	258.54 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Orderly PERP_ENA_USDC	−0.0099%	4h	0.2104	+2.394%	$44K	$26K	10x	as long as short
01 Exchange ENAUSD	−0.0040%	1h	0.2107	+2.511%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2105	+2.438%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2105	+2.447%	$81K	—	150x	as long as short
Injective ENA/USDC PERPshort	+0.0033%	1h	0.2123	+3.318%	$522	$57K	5.5x
Lighter ENA	+0.0096%	1h	0.2108	+2.569%	$5.0M	$13.6M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2106	+2.472%	$55K	$480K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2107	+2.505%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2105	+2.428%	$557K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2108	+2.548%	$114.1M	$74.9M	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	0.2107	+2.542%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2107	+2.518%	$399K	$541K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2107	+2.545%	$127.9M	$426.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2106	+2.486%	$90.4M	$187.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2108	+2.579%	$21.0M	$107.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2105	+2.404%	$33K	$317K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2106	+2.472%	$78K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2103	+2.350%	$92K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2106	+2.462%	$12.6M	$26.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2107	+2.506%	$38.3M	$42.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2107	+2.506%	$24.6M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2104	+2.394%	$47.7M	$59.6M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2105	+2.438%	—	$31.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2107	+2.496%	$380K	$458K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	+2.037%	$3.0M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2103	+2.342%	$256K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2105	+2.407%	$363K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2104	+2.374%	$19K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2106	+2.486%	$182K	$2.6M	10x	as long as short
SunX ENA-USDTlong	+0.0100%	4h	0.2055	long leg	$1K	$903K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2105	+2.423%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2111	+2.720%	$265K	$824K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2106	+2.472%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2104	+2.355%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2105	+2.423%	$74K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0149%	1h	0.2106	+2.468%	$2.6M	$4.4M	50x	as long as short
Phoenix ENA	+0.0190%	1h	0.2108	+2.564%	$8K	$273K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0754%	1h	0.2106	+2.450%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2105	+2.418%	$5.5M	$3.3M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2104	+2.378%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2106	+2.472%	$869K	$1.8M	50x	as long as short
dYdX ENA-USD	+0.1239%	1h	0.2106	+2.459%	$139K	$16K	5x	as long as short