Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.008%

Price spread now: Bitget against Bybit−0.033%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$450.446% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.056%+$6 on $10k

Price spread, last 7 days+0.003%$0 · spread now −0.033%, 7d avg −0.028%

Together, before fees+0.059%+$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENAUSDT	0.2098	0.0100	pay 0.0050% / 4h	41m 24s	$85.1M	$175.7M	50x
Short	Bitget ENAUSDT	0.2097	0.0100	get 0.0050% / 4h	41m 24s	$47.8M	$57.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.033%Rate

Funding earned: $0
Price spread: −0.033% → −0.028%: −$0.53
Slippage, 4 orders: −$21.55
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$45.08
Costs to cover: 0.446%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Bitget: live order book, 3 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, 3 min ago	0.24 bp	9.0 bp −$9	16.3 bp −$163	63.2 bp −$6,319	doesn't fit
Sell Bitget live order book, 3 min ago	0.48 bp	14.4 bp −$14	22.7 bp −$227	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
Backpack ENA_USDC_PERP	−0.0325%	1h	0.2098	0.000%	$364K	$390K	5x	as long as short
01 Exchange ENAUSD	−0.0104%	1h	0.2098	−0.010%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0064%	4h	0.2097	−0.019%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2099	+0.038%	$78K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2098	+0.005%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.216%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2097	−0.067%	$8K	$266K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2100	+0.095%	$5.2M	$13.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2097	−0.043%	$55K	$501K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2098	+0.008%	$47K	$110	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2097	−0.024%	$662K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2099	+0.057%	$111.7M	$73.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2099	+0.065%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2098	+0.027%	$409K	$500K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2098	+0.014%	$128.1M	$415.8M	75x	as long as short
Bybit ENAUSDTlong	+0.0100%	4h	0.2098	long leg	$85.1M	$175.7M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2099	+0.062%	$20.8M	$102.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2093	−0.238%	$20K	$311K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2091	−0.329%	$77K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	−0.005%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2098	−0.010%	$11.0M	$21.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2098	−0.005%	$45.7M	$41.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2099	+0.029%	$24.5M	$15.6M	75x	as long as short
Bitget ENAUSDTshort	+0.0100%	4h	0.2097	−0.033%	$47.8M	$57.4M	75x
BingX ENA-USDT	+0.0100%	4h	0.2098	0.000%	—	$32.3M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	−0.023%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2097	−0.043%	$242K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2095	−0.137%	$347K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2095	−0.138%	$20K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2099	+0.038%	$178K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2048	−2.398%	$845	$844K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2098	+0.005%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2099	+0.067%	$271K	$795K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2097	−0.043%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2098	−0.016%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2099	+0.031%	$73K	$4K	3x	as long as short
dYdX ENA-USD	+0.0126%	1h	0.2098	+0.020%	$139K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0245%	1h	0.2098	−0.007%	$2.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2098	0.000%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2095	−0.138%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2097	−0.056%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2090	−0.372%	$851K	$1.5M	50x	as long as short