Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Popdex against SunX+2.080%7-day average +2.367% · you sell dearer than you buy

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

Long on SunX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.139%−$14 · spread now +2.080%, 7d avg +2.367%

Together, before fees−0.142%−$14 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: Popdex is 0.287% cheaper against SunX than usual: you would sell low and buy high, −$29 on $10k if it goes back to its 7-day average of +2.367%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ENA-USDT	0.2048	0.0100	pay 0.0050% / 4h	50m 35s	$934	$841K	20x
Short	Popdex ENAUSDT	0.2091	0.0096	get 0.0012% / 1h	50m 35s	$55K	$501K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +2.080%Rate

Funding earned: −$0.84
Price spread: +2.080% → +2.367%: −$28.74
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$43.98
Costs to cover: 0.144%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 42 min ago; Popdex: live order book, 8 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, 42 min ago	258.55 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Popdex live order book, 8 min ago	1.89 bp	9.5 bp −$9	81.9 bp −$819	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	−0.0230%	1h	0.2097	+2.382%	$370K	$372K	5x	as long as short
01 Exchange ENAUSD	−0.0096%	1h	0.2091	+2.060%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0056%	4h	0.2095	+2.299%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2096	+2.343%	$78K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2098	+2.421%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+3.661%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0068%	1h	0.2092	+2.153%	$138K	$15K	5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2108	+2.919%	$8K	$266K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2094	+2.236%	$5.2M	$13.3M	10x	as long as short
Popdex ENAUSDTshort	+0.0096%	1h	0.2091	+2.080%	$55K	$501K	50x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0100%	8h	0.2094	+2.243%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2098	+2.434%	$659K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2097	+2.373%	$111.9M	$72.6M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2096	+2.328%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2094	+2.203%	$408K	$499K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2091	+2.089%	$127.8M	$415.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2091	+2.060%	$85.0M	$176.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2092	+2.114%	$20.6M	$101.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2106	+2.812%	$19K	$323K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2092	+2.128%	$77K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	+2.861%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2092	+2.138%	$11.0M	$21.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2092	+2.124%	$45.2M	$41.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2097	+2.348%	$24.5M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2090	+2.016%	$47.5M	$57.3M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2091	+2.099%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	+2.362%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2105	+2.748%	$242K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2104	+2.735%	$353K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2104	+2.714%	$20K	$649K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2099	+2.490%	$181K	$2.3M	10x	as long as short
SunX ENA-USDTlong	+0.0100%	4h	0.2048	long leg	$934	$841K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2096	+2.324%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2101	+2.573%	$272K	$797K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2095	+2.275%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2090	+2.051%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2097	+2.348%	$73K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0245%	1h	0.2098	+2.409%	$2.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2098	+2.423%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2098	+2.407%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2098	+2.444%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2112	+3.095%	$860K	$1.5M	50x	as long as short