Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.011%

Price spread now: Extended against Binance−0.015%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$330.330% of the position

Long on Binance Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 7 days+0.018%+$2 · spread now −0.015%, 7d avg −0.037%

Together, before fees+0.075%+ Points / potential airdropExtended: Active · farm board+$8 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: Extended is 0.022% dearer against Binance than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ENAUSDT	0.2126	0.0100	pay 0.0050% / 4h	3h 31m	$128.9M	$430.2M	75x
Short	Extended ENA-USD	0.2125	0.0104	get 0.0013% / 1h	31m 58s	$1.6M	$4.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Binance. 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 BinancebpFee ExtendedbpOrdersPrice spread, now −0.015%Rate

Funding earned: $0.84
Price spread: −0.015% → −0.037%: $2.17
Slippage, 4 orders: −$18.02
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$30.01
Costs to cover: 0.330%
Break-even: 257.1 days

Slippage from Binance: live order book, 12 min ago; Extended: live order book, 2 min ago.

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 Binance live order book, 12 min ago	0.23 bp	8.8 bp −$9	15.7 bp −$157	59.5 bp −$5,955	doesn't fit
Sell Extended live order book, 2 min ago	0.23 bp	9.0 bp −$9	12.7 bp −$127	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
Orderly PERP_ENA_USDC	−0.0098%	4h	0.2126	+0.035%	$44K	$16K	10x	as long as short
01 Exchange ENAUSD	−0.0096%	1h	0.2126	+0.011%	$4K	$169	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2128	+0.101%	$75K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2126	+0.042%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.102%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0074%	4h	0.2126	+0.035%	$13.3M	$27.5M	50x	as long as short
Lighter ENA	+0.0096%	1h	0.2128	+0.110%	$4.9M	$13.0M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2125	−0.027%	$54K	$497K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2127	+0.060%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2127	+0.046%	$563K	$1.8M	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	0.2127	+0.091%	$115.9M	$76.6M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2127	+0.049%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2127	+0.084%	$408K	$569K	10x	as long as short
Binance ENAUSDTlong	+0.0100%	4h	0.2126	long leg	$128.9M	$430.2M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2125	−0.003%	$88.4M	$194.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2126	+0.025%	$21.0M	$108.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2129	+0.166%	$28K	$318K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2127	+0.068%	$79K	$282K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2140	+0.679%	$93K	$511	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2127	+0.049%	$40.4M	$43.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2128	+0.105%	$25.0M	$16.0M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2124	−0.078%	$48.1M	$61.1M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2126	+0.021%	—	$31.3M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2126	+0.035%	$414K	$478K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2131	+0.260%	$3.1M	$9.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2130	+0.206%	$253K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2129	+0.161%	$354K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2138	+0.585%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2127	+0.072%	$175K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2078	−2.252%	$1K	$927K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2126	+0.021%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2131	+0.265%	$265K	$838K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2128	+0.115%	$1.9M	$8.9M	50x	as long as short
Extended ENA-USDshort	+0.0104%	1h	0.2125	−0.015%	$1.6M	$4.6M	50x
Aevo ENA-PERP	+0.0104%	1h	0.2141	+0.727%	$75K	$4K	3x	as long as short
dYdX ENA-USD	+0.0118%	1h	0.2128	+0.109%	$141K	$16K	5x	as long as short
Phoenix ENA	+0.0150%	1h	0.2140	+0.698%	$13K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0196%	1h	0.2128	+0.095%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0756%	1h	0.2127	+0.062%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2128	+0.129%	$5.7M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2126	+0.013%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2136	+0.486%	$793K	$2.0M	50x	as long as short