Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: BingX against Bybit−0.009%7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$450.455% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.059%+$6 on $10k

Price spread, last 7 days+0.002%$0 · spread now −0.009%, 7d avg +0.011%

Together, before fees+0.061%+$6 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: BingX is 0.020% cheaper against Bybit than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENAUSDT	0.2127	0.0100	pay 0.0050% / 4h	3h 33m	$88.5M	$194.4M	50x
Short	BingX ENA-USDC	0.2127	0.0100	get 0.0050% / 4h	3h 33m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bybit. 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 BybitbpFee BingXbpOrdersPrice spread, now −0.009%Rate

Funding earned: $0
Price spread: −0.009% → +0.011%: −$2.04
Slippage, 4 orders: −$24.49
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$47.54
Costs to cover: 0.455%
Break-even: never at this rate

Slippage from Bybit: live order book, 6 min ago; BingX: 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 Bybit live order book, 6 min ago	0.23 bp	11.0 bp −$11	19.2 bp −$192	61.0 bp −$6,103	doesn't fit
Sell BingX live order book, 2 min ago	0.47 bp	14.6 bp −$15	29.2 bp −$292	74.0 bp −$7,395	405.2 bp −$202.6K

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	0.2127	0.000%	$44K	$16K	10x	as long as short
01 Exchange ENAUSD	−0.0096%	1h	0.2125	−0.094%	$4K	$169	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2129	+0.066%	$75K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2129	+0.111%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.174%	$522	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2130	+0.146%	$4.9M	$13.0M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2126	−0.052%	$54K	$497K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2125	−0.093%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2126	−0.031%	$563K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2129	+0.085%	$116.0M	$76.6M	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	0.2128	+0.052%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2127	0.000%	$407K	$569K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2127	−0.024%	$129.0M	$430.7M	75x	as long as short
Bybit ENAUSDTlong	+0.0100%	4h	0.2127	long leg	$88.5M	$194.4M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2128	+0.024%	$21.0M	$108.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2129	+0.094%	$28K	$318K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2125	−0.099%	$79K	$282K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2140	+0.606%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2126	−0.033%	$13.3M	$27.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2127	+0.019%	$40.4M	$43.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2128	+0.052%	$25.0M	$16.0M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2126	−0.066%	$48.2M	$61.1M	75x	as long as short
BingX ENA-USDCshort	+0.0100%	4h	0.2127	−0.009%	—	$6.5M	—
Variational Omni ENA	+0.0100%	4h	0.2131	+0.188%	$3.1M	$9.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2130	+0.133%	$253K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2129	+0.088%	$354K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2138	+0.512%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2128	+0.024%	$175K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2079	−2.247%	$1K	$927K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2128	+0.042%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2133	+0.287%	$265K	$838K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2129	+0.089%	$1.9M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2127	−0.012%	$1.6M	$4.6M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2135	+0.383%	$75K	$4K	3x	as long as short
Backpack ENA_USDC_PERP	+0.0111%	1h	0.2135	+0.381%	$415K	$476K	5x	as long as short
dYdX ENA-USD	+0.0118%	1h	0.2128	+0.032%	$141K	$16K	5x	as long as short
Phoenix ENA	+0.0150%	1h	0.2140	+0.625%	$13K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0196%	1h	0.2129	+0.077%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0756%	1h	0.2128	+0.022%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2128	+0.056%	$5.7M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2129	+0.099%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2136	+0.414%	$793K	$2.0M	50x	as long as short