Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0116%/8h= +12.7% APRpaid last 24h +0.006%

Price spread now: Bitget against 01 Exchange+0.052%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bitget is 0.052% dearer against 01 Exchange than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ENAUSD	0.2109	−0.0016	get 0.0002% / 1h	43m 17s	$4K	$277	10x
Short	Bitget ENAUSDT	0.2110	0.0100	get 0.0050% / 4h	2h 43m	$48.0M	$57.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against 01 Exchange. 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 01 ExchangebpFee BitgetbpOrdersPrice spread, now +0.052%Rate

Funding earned: $24.36
Price spread: +0.052% → 0.000%: $5.22
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: $10.58
Costs to cover: 0.190%
Break-even: 4.0 days

Slippage unknown: 01 Exchange: no order-book sample; Bitget: live order book, 1 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Bitget live order book, 1 min ago	0.71 bp	11.6 bp −$12	22.5 bp −$225	doesn't fit	doesn't fit

01 Exchange: 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	−0.0140%	4h	0.2110	+0.057%	$44K	$25K	10x	as long as short
01 Exchange ENAUSDlong	−0.0016%	1h	0.2109	long leg	$4K	$277	10x
Gate ENA_USDT	−0.0014%	4h	0.2110	+0.066%	$11.0M	$23.4M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2111	+0.100%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2111	+0.078%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.688%	$522	$57K	5.5x	as long as short
ApeX Omni ENAUSDT	+0.0048%	1h	0.2112	+0.147%	$20K	$647K	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2109	+0.005%	$56K	$466K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2109	+0.015%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2110	+0.059%	$654K	$1.7M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ENA	+0.0100%	1h	0.2112	+0.156%	$114.5M	$74.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2112	+0.125%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2109	+0.022%	$396K	$522K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2111	+0.122%	$128.0M	$416.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2112	+0.128%	$85.4M	$175.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2112	+0.152%	$21.1M	$104.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2106	−0.123%	$22K	$321K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2109	+0.005%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2096	−0.588%	$92K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2110	+0.076%	$45.5M	$40.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2111	+0.095%	$24.9M	$15.5M	75x	as long as short
Bitget ENAUSDTshort	+0.0100%	4h	0.2110	+0.052%	$48.0M	$57.9M	75x
BingX ENA-USDT	+0.0100%	4h	0.2110	+0.047%	—	$31.3M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2108	−0.039%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2106	−0.133%	$241K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2110	+0.053%	$349K	$4.9M	10x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2111	+0.100%	$189K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2059	−2.366%	$1K	$868K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2112	+0.147%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2112	+0.123%	$275K	$777K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2111	+0.100%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2111	+0.079%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2111	+0.085%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2109	−0.005%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0163%	1h	0.2112	+0.160%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0216%	1h	0.2113	+0.209%	$5.2M	$13.0M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2110	+0.072%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2110	+0.043%	$5.5M	$3.0M	75x	as long as short
dYdX ENA-USD	+0.0377%	1h	0.2109	−0.011%	$139K	$15K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2110	+0.063%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0583%	1h	0.2109	+0.009%	$357K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2100	−0.422%	$860K	$1.7M	50x	as long as short