Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.008%

Price spread now: Phemex against SunX+2.369%7-day average +2.415% · you sell dearer than you buy

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

Long on SunX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 3 days (all we have)+0.073%+$7 · spread now +2.369%, 7d avg +2.415%

Together, before fees+0.060%+$6 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: Phemex is 0.045% cheaper against SunX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +2.415%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ENA-USDT	0.2068	0.0100	pay 0.0050% / 4h	3h 40m	$892	$829K	20x
Short	Phemex ENAUSDT	0.2117	0.0100	get 0.0050% / 4h	3h 40m	$1.9M	$9.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +2.369%Rate

Funding earned: $0
Price spread: +2.369% → +2.415%: −$4.54
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$24.54
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 11 min ago; Phemex: 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, 11 min ago	330.91 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	9.43 bp	19.0 bp −$19	56.7 bp −$567	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	−0.0014%	1h	0.2117	+2.394%	$377K	$417K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2117	+2.394%	$91K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2117	+2.351%	$97K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0022%	4h	0.2117	+2.360%	$41K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+2.679%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0040%	1h	0.2117	+2.373%	$140K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2117	+2.369%	$62K	$524K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2117	+2.377%	$669K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2117	+2.393%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2117	+2.384%	$410K	$555K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2117	+2.370%	$131.3M	$446.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2117	+2.394%	$89.1M	$187.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2119	+2.442%	$20.7M	$109.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2117	+2.365%	$15K	$399K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2119	+2.466%	$84K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	+2.176%	$89K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2115	+2.278%	$10.8M	$20.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2118	+2.403%	$46.3M	$44.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2117	+2.389%	$24.4M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2117	+2.374%	$48.0M	$61.9M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2118	+2.432%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2118	+2.419%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2119	+2.480%	$247K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2121	+2.541%	$355K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2117	+2.369%	$34K	$710K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2117	+2.355%	$179K	$2.4M	10x	as long as short
SunX ENA-USDTlong	+0.0100%	4h	0.2068	long leg	$892	$829K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2117	+2.369%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2124	+2.713%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDTshort	+0.0100%	4h	0.2117	+2.369%	$1.9M	$9.4M	50x
Paradex ENA-USD-PERP	+0.0100%	8h	0.2118	+2.422%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2117	+2.354%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2117	+2.369%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0208%	1h	0.2119	+2.452%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0236%	1h	0.2119	+2.461%	$2.7M	$5.1M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2116	+2.333%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0264%	1h	0.2115	+2.263%	$1.6M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2117	+2.360%	$5.6M	$3.8M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2116	+2.320%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0592%	1h	0.2120	+2.500%	$5.6M	$12.5M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2125	+2.742%	$839K	$1.9M	50x	as long as short
Hyperliquid ENA	+0.0667%	1h	0.2120	+2.500%	$114.3M	$76.4M	10x	as long as short