Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bulk against edgeX+0.022%56s7-day average — · you sell dearer than you buy

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

Long on edgeX Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.022% dearer against edgeX than usual: you sell high and buy low, +$2 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 56 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	0.2116	0.0100	pay 0.0050% / 4h	23m 48s	$252K	$7.6M	20x
Short	Bulk ENA-USD	0.2117	0.0100	get 0.0013% / 1h	23m 48s	$89K	$500	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now +0.022%Rate

Funding earned: $0
Price spread: +0.022% → 0.000%: $2.23
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$13.77
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 5 min ago; Bulk: 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 edgeX live order book, 5 min ago	9.43 bp	13.9 bp −$14	15.4 bp −$154	46.2 bp −$4,624	doesn't fit
Sell Bulk no order-book sample	—	—	—	—	—

Bulk: 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	−0.0008%	4h	0.2115	−0.044%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2117	+0.022%	$92K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2118	+0.070%	$97K	—	150x	as long as short
Backpack ENA_USDC_PERP	+0.0030%	1h	0.2116	−0.001%	$374K	$445K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.348%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2117	+0.046%	$61K	$524K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2117	+0.036%	$678K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2116	+0.011%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2118	+0.072%	$409K	$562K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2114	−0.077%	$130.6M	$452.6M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2114	−0.105%	$88.7M	$189.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2114	−0.096%	$20.5M	$110.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2119	+0.159%	$15K	$404K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2117	+0.046%	$84K	$222K	10x	as long as short
Bulk ENA-USDshort	+0.0100%	1h	0.2117	+0.022%	$89K	$500	10x
Gate ENA_USDT	+0.0100%	4h	0.2114	−0.082%	$10.8M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2115	−0.067%	$46.4M	$45.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2115	−0.039%	$24.5M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2112	−0.176%	$47.9M	$64.0M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2114	−0.096%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2123	+0.344%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDClong	+0.0100%	4h	0.2116	long leg	$252K	$7.6M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2127	+0.522%	$355K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	+0.093%	$32K	$709K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2118	+0.074%	$178K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2065	−2.407%	$1K	$825K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2116	−0.001%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2123	+0.339%	$275K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2116	−0.001%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2117	+0.025%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2116	−0.015%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2129	+0.608%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0192%	1h	0.2118	+0.074%	$4K	$302	10x	as long as short
Extended ENA-USD	+0.0208%	1h	0.2113	−0.138%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0241%	1h	0.2117	+0.069%	$2.7M	$5.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2117	+0.054%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2121	+0.230%	$5.6M	$6.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2116	+0.015%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0504%	1h	0.2117	+0.046%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2131	+0.689%	$841K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0762%	1h	0.2118	+0.074%	$114.0M	$78.3M	10x	as long as short
dYdX ENA-USD	+0.1711%	1h	0.2120	+0.196%	$140K	$15K	5x	as long as short