Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0312%/8h= +34.1% APRpaid last 24h +0.039%

Price spread now: Reya against Aster−0.030%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Reya

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 airdropAster: Stage 5 · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.030% cheaper against Aster than usual: you would sell low and buy high (spread −0.030% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 8 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ENAUSDT	0.2118	0.0100	pay 0.0050% / 4h	1h 54m	$1.5M	$3.3M	50x
Short	Reya ENARUSDPERP	0.2117	0.0412	get 0.0051% / 1h	54m 23s	$1K	$5K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Aster. 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 AsterbpFee ReyabpOrdersPrice spread, now −0.030%Rate

Funding earned: $65.47
Price spread: −0.030% → 0.000%: −$3.01
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: $48.46
Costs to cover: 0.140%
Break-even: 1.8 days

Slippage unknown: Aster: live order book, 4 min ago; Reya: 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 Aster live order book, 4 min ago	2.36 bp	6.9 bp −$7	17.9 bp −$179	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 41 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	0.2119	+0.056%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2118	+0.008%	$87K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0025%	4h	0.2118	+0.004%	$44K	$27K	10x	as long as short
01 Exchange ENAUSD	+0.0032%	1h	0.2118	+0.008%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.278%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0058%	1h	0.2120	+0.099%	$140K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2115	−0.119%	$54K	$500K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2116	−0.084%	$683K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2119	+0.051%	$113.9M	$71.1M	10x	as long as short
Aster ENAUSDTlong	+0.0100%	4h	0.2118	long leg	$1.5M	$3.3M	50x

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2118	+0.031%	$414K	$519K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2118	+0.026%	$130.3M	$427.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2118	+0.022%	$86.7M	$178.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2119	+0.074%	$20.8M	$103.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2121	+0.145%	$19K	$383K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2117	−0.025%	$78K	$288K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.025%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2117	−0.011%	$11.1M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2118	+0.004%	$45.5M	$41.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2118	+0.022%	$24.6M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2116	−0.053%	$48.2M	$58.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2118	+0.004%	—	$32.4M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2128	+0.495%	$3.8M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2115	−0.118%	$247K	$7.4M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2114	−0.158%	$360K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2115	−0.119%	$32K	$646K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2118	+0.004%	$182K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2068	−2.353%	$1K	$841K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2118	+0.022%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2123	+0.254%	$276K	$787K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2118	+0.022%	$1.8M	$8.8M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2118	0.000%	$47K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2118	+0.022%	$74K	$4K	3x	as long as short
Extended ENA-USD	+0.0136%	1h	0.2118	+0.015%	$1.6M	$4.1M	50x	as long as short
Lighter ENA	+0.0152%	1h	0.2120	+0.141%	$5.5M	$13.6M	10x	as long as short
Phoenix ENA	+0.0188%	1h	0.2121	+0.159%	$7K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2118	+0.012%	$50K	—	100x	as long as short
Backpack ENA_USDC_PERP	+0.0266%	1h	0.2120	+0.141%	$381K	$359K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0284%	1h	0.2119	+0.079%	$2.7M	$4.3M	50x	as long as short
Reya ENARUSDPERPshort	+0.0412%	1h	0.2117	−0.030%	$1K	$5K	15x
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2131	+0.651%	$838K	$1.6M	50x	as long as short