Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h +0.013%

Price spread now: Extended against Bybit+0.109%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.114%+$11 on $10k

Price spread, last 7 days−0.110%−$11 · spread now +0.109%, 7d avg +0.001%

Together, before fees+0.005%+ Points / potential airdropExtended: Active · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Extended is 0.109% dearer against Bybit than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENAUSDT	0.2123	0.0100	pay 0.0050% / 4h	1h 56m	$86.9M	$178.3M	50x
Short	Extended ENA-USD	0.2125	0.0136	get 0.0017% / 1h	56m 03s	$1.6M	$4.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.109%Rate

Funding earned: $7.56
Price spread: +0.109% → +0.001%: $10.88
Slippage, 4 orders: −$13.27
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$10.83
Costs to cover: 0.293%
Break-even: 17.0 days

Slippage from Bybit: live order book, 3 min ago; Extended: 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	0.23 bp	8.5 bp −$9	17.0 bp −$170	63.4 bp −$6,343	doesn't fit
Sell Extended live order book, 3 min ago	0.23 bp	5.0 bp −$5	11.1 bp −$111	doesn't fit	doesn't fit

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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2127	+0.207%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2128	+0.213%	$87K	—	150x	as long as short
01 Exchange ENAUSD	+0.0024%	1h	0.2128	+0.240%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	+0.0028%	4h	0.2126	+0.137%	$44K	$27K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.019%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2127	+0.188%	$54K	$501K	50x	as long as short
dYdX ENA-USD	+0.0097%	1h	0.2123	0.000%	$140K	$15K	5x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2127	+0.193%	$687K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2126	+0.137%	$114.3M	$71.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2128	+0.236%	$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	0.2125	+0.079%	$415K	$519K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2125	+0.117%	$130.8M	$427.8M	75x	as long as short
Bybit ENAUSDTlong	+0.0100%	4h	0.2123	long leg	$86.9M	$178.3M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2123	−0.014%	$20.9M	$104.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2121	−0.113%	$19K	$383K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2128	+0.236%	$79K	$288K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2109	−0.636%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2124	+0.038%	$11.1M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2125	+0.108%	$45.6M	$41.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2128	+0.226%	$24.7M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2121	−0.089%	$48.3M	$58.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2123	−0.014%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2128	+0.235%	$3.8M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2128	+0.256%	$249K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	+0.065%	$361K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2125	+0.094%	$32K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2129	+0.287%	$183K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2078	−2.134%	$1K	$841K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2127	+0.188%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2134	+0.537%	$278K	$787K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2125	+0.094%	$1.9M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2128	+0.219%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2127	+0.189%	$74K	$4K	3x	as long as short
Extended ENA-USDshort	+0.0136%	1h	0.2125	+0.109%	$1.6M	$4.1M	50x
Lighter ENA	+0.0160%	1h	0.2128	+0.221%	$5.5M	$13.6M	10x	as long as short
Phoenix ENA	+0.0188%	1h	0.2121	−0.099%	$7K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2128	+0.233%	$51K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0283%	1h	0.2128	+0.246%	$2.7M	$4.3M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0342%	1h	0.2126	+0.141%	$382K	$362K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2128	+0.252%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2131	+0.391%	$838K	$1.6M	50x	as long as short