Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.026%

Price spread now: Injective against Binance+0.204%7-day average — · you sell dearer than you buy

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

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.184%+$18 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 0.204% dearer against Binance than usual: you sell high and buy low (spread +0.204% now, against zero (this spread has no 7-day history yet)): +$20 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 10 days. Mind the row above: over the last 7 days funding on this pair paid +0.184%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ENAUSDT	0.2119	0.0100	pay 0.0050% / 4h	1h 57m	$130.4M	$428.3M	75x
Short	Injective ENA/USDC PERP	0.2123	0.0033	get 0.0004% / 1h	57m 06s	$522	$57K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.204%Rate

Funding earned: −$14
Price spread: +0.204% → 0.000%: $20.36
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$3.66
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 2 min ago; Injective: 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 Binance live order book, 2 min ago	0.23 bp	7.7 bp −$8	11.8 bp −$118	51.0 bp −$5,103	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
dYdX ENA-USD	0.0000%	1h	0.2117	−0.078%	$140K	$15K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2114	−0.221%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2115	−0.215%	$87K	—	150x	as long as short
01 Exchange ENAUSD	+0.0016%	1h	0.2113	−0.273%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	+0.0028%	4h	0.2113	−0.278%	$44K	$27K	10x	as long as short
Injective ENA/USDC PERPshort	+0.0033%	1h	0.2123	+0.204%	$522	$57K	5.5x
Popdex ENAUSDT	+0.0096%	1h	0.2112	−0.334%	$54K	$501K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2113	−0.280%	$682K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2118	−0.047%	$113.9M	$71.6M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2115	−0.187%	$1.5M	$3.3M	50x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2116	−0.131%	$413K	$519K	10x	as long as short
Binance ENAUSDTlong	+0.0100%	4h	0.2119	long leg	$130.4M	$428.3M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2119	+0.020%	$86.7M	$178.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2120	+0.029%	$20.8M	$104.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2127	+0.369%	$19K	$384K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2114	−0.240%	$78K	$288K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2109	−0.452%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2116	−0.146%	$11.0M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2116	−0.131%	$45.4M	$41.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2116	−0.155%	$24.6M	$15.9M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2119	−0.028%	$48.3M	$58.6M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2117	−0.075%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2129	+0.448%	$3.8M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2128	+0.442%	$249K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	+0.249%	$361K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2125	+0.279%	$32K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2113	−0.287%	$182K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2063	−2.651%	$1K	$842K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2114	−0.240%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	−0.094%	$276K	$787K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2115	−0.193%	$1.8M	$9.0M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2113	−0.274%	$47K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2114	−0.240%	$74K	$4K	3x	as long as short
Extended ENA-USD	+0.0128%	1h	0.2119	+0.010%	$1.6M	$4.1M	50x	as long as short
Phoenix ENA	+0.0188%	1h	0.2121	+0.086%	$7K	$298K	10x	as long as short
Backpack ENA_USDC_PERP	+0.0192%	1h	0.2118	−0.061%	$380K	$363K	5x	as long as short
Lighter ENA	+0.0208%	1h	0.2117	−0.098%	$5.5M	$13.6M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2114	−0.239%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0285%	1h	0.2116	−0.159%	$2.7M	$4.3M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2113	−0.289%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2131	+0.576%	$838K	$1.6M	50x	as long as short