Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0076%/8h= −8.3% APRpaid last 24h +0.051%

Price spread now: edgeX against 01 Exchange−0.145%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and edgeX is 0.145% cheaper against 01 Exchange than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ENAUSD	0.2158	0.0176	pay 0.0022% / 1h	15m 24s	$4K	$302	10x
Short	edgeX ENAUSDC	0.2155	0.0100	get 0.0050% / 4h	3h 15m	$250K	$7.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.145%Rate

Funding earned: −$15.96
Price spread: −0.145% → 0.000%: −$14.48
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$46.44
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; edgeX: live order book, 4 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 edgeX live order book, 4 min ago	6.98 bp	11.5 bp −$11	13.0 bp −$130	43.8 bp −$4,381	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2160	+0.079%	$81K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2160	+0.057%	$104K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0032%	4h	0.2158	+0.009%	$42K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.617%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0068%	1h	0.2159	+0.040%	$143K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2159	+0.032%	$63K	$518K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2159	+0.021%	$715K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2160	+0.057%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2160	+0.065%	$425K	$553K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2160	+0.074%	$134.7M	$442.6M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2159	+0.023%	$89.1M	$187.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2159	+0.037%	$21.2M	$110.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2156	−0.120%	$16K	$413K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2160	+0.079%	$107K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2150	−0.381%	$94K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2159	+0.046%	$11.0M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2160	+0.074%	$46.3M	$44.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2160	+0.065%	$24.8M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2157	−0.056%	$48.9M	$61.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2159	+0.028%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2160	+0.083%	$384K	$405K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2157	−0.050%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDCshort	+0.0100%	4h	0.2155	−0.145%	$250K	$7.6M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2154	−0.220%	$356K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2154	−0.199%	$33K	$687K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2160	+0.056%	$180K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2108	−2.340%	$1K	$833K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2159	+0.032%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2161	+0.130%	$281K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2160	+0.079%	$2.0M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2159	+0.026%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2159	+0.043%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2153	−0.259%	$8K	$347K	10x	as long as short
01 Exchange ENAUSDlong	+0.0176%	1h	0.2158	long leg	$4K	$302	10x
Kraken Futures PF_ENAUSD	+0.0231%	1h	0.2161	+0.126%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0320%	1h	0.2159	+0.017%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0334% / S −0.0430%	1h	0.2160	+0.060%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2156	−0.102%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2159	+0.017%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2159	+0.042%	$855K	$1.8M	50x	as long as short
Lighter ENA	+0.0704%	1h	0.2162	+0.195%	$5.7M	$12.7M	10x	as long as short
Hyperliquid ENA	+0.0767%	1h	0.2163	+0.218%	$117.6M	$74.7M	10x	as long as short