Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h −0.016%

Price spread now: 01 Exchange against Bybit+0.141%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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. 01 Exchange is 0.141% dearer against Bybit than usual: you sell high and buy low (spread +0.141% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENAUSDT	0.2120	0.0100	pay 0.0050% / 4h	1h 13m	$90.9M	$187.5M	50x
Short	01 Exchange ENAUSD	0.2123	0.0008	get 0.0001% / 1h	13m 01s	$4K	$277	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.141%Rate

Funding earned: −$19.32
Price spread: +0.141% → 0.000%: $14.15
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$23.17
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 min ago; 01 Exchange: 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 Bybit live order book, 1 min ago	0.24 bp	8.2 bp −$8	16.5 bp −$165	51.1 bp −$5,112	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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 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	−0.0105%	4h	0.2120	−0.005%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2121	+0.038%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2121	+0.013%	$82K	—	150x	as long as short
01 Exchange ENAUSDshort	+0.0008%	1h	0.2123	+0.141%	$4K	$277	10x
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.146%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2122	+0.080%	$55K	$484K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2123	+0.104%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2122	+0.068%	$563K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2124	+0.179%	$115.0M	$76.1M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2123	+0.132%	$1.4M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2123	+0.133%	$402K	$546K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2122	+0.071%	$128.5M	$427.7M	75x	as long as short
Bybit ENAUSDTlong	+0.0100%	4h	0.2120	long leg	$90.9M	$187.5M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2122	+0.085%	$21.3M	$108.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2123	+0.127%	$33K	$330K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2122	+0.080%	$78K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2128	+0.369%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2122	+0.057%	$12.5M	$26.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2122	+0.066%	$37.9M	$43.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2122	+0.080%	$24.8M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2119	−0.042%	$48.0M	$59.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2121	+0.038%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2120	+0.008%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2122	+0.098%	$257K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	+0.175%	$355K	$5.1M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2124	+0.175%	$19K	$646K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2123	+0.108%	$185K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2072	−2.273%	$1K	$903K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2121	+0.033%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2123	+0.123%	$266K	$820K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2121	+0.033%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2120	+0.009%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2121	+0.048%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2125	+0.241%	$8K	$276K	10x	as long as short
Lighter ENA	+0.0184%	1h	0.2123	+0.141%	$5.0M	$13.6M	10x	as long as short
dYdX ENA-USD	+0.0227%	1h	0.2124	+0.153%	$140K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0753%	1h	0.2121	+0.016%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2122	+0.071%	$5.6M	$3.2M	75x	as long as short
Backpack ENA_USDC_PERP	+0.0366%	1h	0.2123	+0.113%	$394K	$437K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2119	−0.074%	$1K	$3K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0445%	1h	0.2122	+0.068%	$2.6M	$4.4M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2135	+0.717%	$881K	$1.8M	50x	as long as short