Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Arcus against edgeX−0.021%54s7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$570.571% of the position

Long on edgeX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.227%−$23 · spread now −0.021%, 7d avg −0.010%

Together, before fees−0.229%+ Points / potential airdropedgeX: Active · farm board−$23 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ENAUSDC	0.2128	0.0100	pay 0.0050% / 4h	1h 56m	$249K	$7.5M	20x
Short	Arcus ENA-USD	0.2128	0.0100	get 0.0013% / 1h	56m 03s	$79K	$288K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against edgeX. 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 edgeXbpFee ArcusbpOrdersPrice spread, now −0.021%Rate

Funding earned: $0
Price spread: −0.021% → −0.010%: −$1.11
Slippage, 4 orders: −$43.59
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$58.2
Costs to cover: 0.571%
Break-even: never at this rate

Slippage from edgeX: live order book, 3 min ago; Arcus: live order book, 7 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 edgeX live order book, 3 min ago	9.42 bp	13.9 bp −$14	15.4 bp −$154	46.2 bp −$4,622	doesn't fit
Sell Arcus live order book, 7 min ago	7.05 bp	10.2 bp −$10	23.0 bp −$230	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	−0.049%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2128	−0.043%	$87K	—	150x	as long as short
01 Exchange ENAUSD	+0.0024%	1h	0.2128	−0.016%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	+0.0028%	4h	0.2126	−0.119%	$44K	$27K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.237%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2127	−0.068%	$54K	$501K	50x	as long as short
dYdX ENA-USD	+0.0097%	1h	0.2123	−0.256%	$140K	$15K	5x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2127	−0.063%	$687K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2126	−0.119%	$114.3M	$71.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2128	−0.021%	$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	−0.177%	$415K	$519K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2125	−0.139%	$130.8M	$427.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2123	−0.256%	$86.9M	$178.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2123	−0.270%	$20.9M	$104.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2121	−0.368%	$19K	$383K	5x	as long as short
Arcus ENA-USDshort	+0.0100%	1h	0.2128	−0.021%	$79K	$288K	10x
Bulk ENA-USD	+0.0100%	1h	0.2109	−0.890%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2124	−0.218%	$11.1M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2125	−0.148%	$45.6M	$41.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2128	−0.030%	$24.7M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2121	−0.345%	$48.3M	$58.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2123	−0.270%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2128	−0.021%	$3.8M	$9.9M	—	as long as short
edgeX ENAUSDClong	+0.0100%	4h	0.2128	long leg	$249K	$7.5M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	−0.191%	$361K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2125	−0.162%	$32K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2129	+0.031%	$183K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2078	−2.384%	$1K	$841K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2127	−0.068%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2134	+0.280%	$278K	$787K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2125	−0.162%	$1.9M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2128	−0.037%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2127	−0.067%	$74K	$4K	3x	as long as short
Extended ENA-USD	+0.0136%	1h	0.2125	−0.147%	$1.6M	$4.1M	50x	as long as short
Lighter ENA	+0.0160%	1h	0.2128	−0.035%	$5.5M	$13.6M	10x	as long as short
Phoenix ENA	+0.0188%	1h	0.2121	−0.354%	$7K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2128	−0.024%	$51K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0283%	1h	0.2128	−0.010%	$2.7M	$4.3M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0342%	1h	0.2126	−0.115%	$382K	$362K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2128	−0.005%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2131	+0.134%	$838K	$1.6M	50x	as long as short