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 0.000%

Price spread now: Binance against edgeX+0.050%70s7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

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

costs, in and out, $10k−$410.412% of the position

Long on edgeX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.027%−$3 on $10k

Price spread, last 7 days−0.018%−$2 · spread now +0.050%, 7d avg +0.017%

Together, before fees−0.045%+ Points / potential airdropedgeX: Active · farm board−$5 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: Binance is 0.033% dearer against edgeX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.017%. The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ENAUSDC	0.2118	0.0100	pay 0.0050% / 4h	20m 20s	$245K	$6.9M	20x
Short	Binance ENAUSDT	0.2119	0.0100	get 0.0050% / 4h	20m 20s	$129.1M	$416.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.050%Rate

Funding earned: $0
Price spread: +0.050% → +0.017%: $3.28
Slippage, 4 orders: −$22.22
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$37.94
Costs to cover: 0.412%
Break-even: never at this rate

Slippage from edgeX: live order book, 4 min ago; Binance: live order book, 8 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, 4 min ago	7.09 bp	11.6 bp −$12	13.1 bp −$131	43.9 bp −$4,395	doesn't fit
Sell Binance live order book, 8 min ago	0.24 bp	8.8 bp −$9	14.4 bp −$144	64.3 bp −$6,432	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	−0.0173%	1h	0.2120	+0.114%	$364K	$397K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0070%	4h	0.2119	+0.033%	$44K	$25K	10x	as long as short
01 Exchange ENAUSD	−0.0064%	1h	0.2120	+0.109%	$4K	$302	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2119	+0.052%	$79K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2119	+0.043%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.251%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2119	+0.019%	$8K	$266K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2119	+0.043%	$56K	$475K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2120	+0.100%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2119	+0.059%	$658K	$1.7M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ENA	+0.0100%	1h	0.2122	+0.189%	$115.6M	$75.1M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2122	+0.173%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2122	+0.194%	$406K	$516K	10x	as long as short
Binance ENAUSDTshort	+0.0100%	4h	0.2119	+0.050%	$129.1M	$416.4M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2119	+0.057%	$85.6M	$175.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2120	+0.081%	$20.8M	$103.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2118	0.000%	$18K	$317K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2121	+0.137%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.075%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2119	+0.052%	$11.1M	$22.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2119	+0.043%	$46.1M	$41.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2120	+0.071%	$24.6M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2118	−0.004%	$48.1M	$57.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2119	+0.019%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2118	−0.002%	$3.1M	$10.0M	—	as long as short
edgeX ENAUSDClong	+0.0100%	4h	0.2118	long leg	$245K	$6.9M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2118	−0.011%	$350K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	−0.004%	$20K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2119	+0.057%	$183K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2067	−2.403%	$1K	$848K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2119	+0.043%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2121	+0.147%	$274K	$797K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2119	+0.043%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2120	+0.085%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2120	+0.074%	$74K	$4K	3x	as long as short
Lighter ENA	+0.0128%	1h	0.2124	+0.288%	$5.3M	$13.5M	10x	as long as short
dYdX ENA-USD	+0.0131%	1h	0.2121	+0.147%	$140K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0242%	1h	0.2120	+0.094%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0358%	1h	0.2119	+0.031%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2120	+0.081%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2118	+0.013%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2127	+0.416%	$869K	$1.7M	50x	as long as short