Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0108%/8h= −11.8% APRpaid last 24h −0.064%

Price spread now: Extended against BloFin+0.042%7-day average −0.134% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$310.313% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.391%−$39 on $10k

Price spread, last 3 days (all we have)−0.569%−$57 · spread now +0.042%, 7d avg −0.134%

Together, before fees−0.960%+ Points / potential airdropExtended: Active · farm board−$96 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.176% dearer against BloFin than usual: you sell high and buy low (spread +0.042% now, against its 7-day average of −0.134%): +$18 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ENA-USDT	0.2089	0.0340	pay 0.0170% / 4h	1h 48m	$5.5M	$8.1M	75x
Short	Extended ENA-USD	0.2090	0.0232	get 0.0029% / 1h	48m 44s	$1.6M	$4.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. 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 BloFinbpFee ExtendedbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$22.68
Price spread: +0.042% → −0.134%: $17.63
Slippage, 4 orders: −$14.35
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$36.4
Costs to cover: 0.313%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; Extended: live order book, 5 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 BloFin live order book, 5 min ago	2.63 bp	10.8 bp −$11	16.8 bp −$168	74.3 bp −$7,433	doesn't fit
Sell Extended live order book, 5 min ago	0.24 bp	5.4 bp −$5	12.1 bp −$121	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	−0.0076%	4h	0.2089	−0.014%	$40K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0074%	1h	0.2090	+0.072%	$361K	$484K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2090	+0.038%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2089	+0.019%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.652%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2089	+0.028%	$2.6M	$5.6M	50x	as long as short
01 Exchange ENAUSD	+0.0080%	1h	0.2089	+0.010%	$4K	$432	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2088	−0.043%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2089	−0.015%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2089	−0.017%	$655K	$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
Aster ENAUSDT	+0.0100%	4h	0.2090	+0.062%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2091	+0.105%	$404K	$582K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2091	+0.089%	$128.7M	$462.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2089	+0.024%	$86.9M	$192.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2091	+0.086%	$20.2M	$112.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2089	+0.029%	$20K	$412K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2089	+0.005%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2090	+0.056%	$88K	$1K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2090	+0.048%	$10.4M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2091	+0.096%	$45.0M	$46.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2092	+0.124%	$23.9M	$16.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2089	+0.029%	$47.3M	$65.4M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2090	+0.067%	—	$33.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2088	−0.020%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2090	+0.040%	$248K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2089	+0.005%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2091	+0.101%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2090	+0.062%	$188K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2039	−2.394%	$961	$813K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2089	+0.005%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2099	+0.479%	$271K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2088	−0.043%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2089	+0.029%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2092	+0.148%	$5K	$356K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0220% / S −0.0363%	1h	0.2089	−0.015%	$38K	—	100x	as long as short
Extended ENA-USDshort	+0.0232%	1h	0.2090	+0.042%	$1.6M	$4.2M	50x
BloFin ENA-USDTlong	+0.0340%	4h	0.2089	long leg	$5.5M	$8.1M	75x
Reya ENARUSDPERP	+0.0412%	1h	0.2089	−0.005%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0432%	1h	0.2093	+0.215%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0527%	1h	0.2093	+0.220%	$110.2M	$79.7M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2094	+0.259%	$801K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1845%	1h	0.2091	+0.084%	$138K	$15K	5x	as long as short