Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0108%/8h= −11.8% APRpaid last 24h −0.006%

Price spread now: BingX against Extended+0.117%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$200.204% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.037%−$4 on $10k

Price spread, last 7 days−0.141%−$14 · spread now +0.117%, 7d avg +0.012%

Together, before fees−0.178%+ Points / potential airdropExtended: Active · farm board−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.105% dearer against Extended than usual: you sell high and buy low (spread +0.117% now, against its 7-day average of +0.012%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.2 days. At the pace of the last 7 days (−0.037% in total) that is about 20 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ENA-USD	0.2115	0.0208	pay 0.0026% / 1h	23m 24s	$1.6M	$4.2M	50x
Short	BingX ENA-USDT	0.2118	0.0100	get 0.0050% / 4h	23m 24s	—	$32.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Extended. 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 ExtendedbpFee BingXbpOrdersPrice spread, now +0.117%Rate

Funding earned: −$22.68
Price spread: +0.117% → +0.012%: $10.52
Slippage, 4 orders: −$5.44
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$32.6
Costs to cover: 0.204%
Break-even: never at this rate

Slippage from Extended: live order book, 5 min ago; BingX: live order book, 15 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 Extended live order book, 5 min ago	0.24 bp	4.5 bp −$5	12.4 bp −$124	doesn't fit	doesn't fit
Sell BingX live order book, 15 min ago	0.70 bp	5.9 bp −$6	6.9 bp −$69	12.7 bp −$1,274	30.7 bp −$15.4K

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	−0.0007%	4h	0.2118	+0.126%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2117	+0.051%	$92K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2118	+0.103%	$97K	—	150x	as long as short
Backpack ENA_USDC_PERP	+0.0030%	1h	0.2116	+0.027%	$374K	$445K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.377%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2116	+0.027%	$61K	$524K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2116	+0.041%	$678K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2117	+0.070%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2116	+0.018%	$409K	$562K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2117	+0.075%	$130.8M	$452.5M	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	0.2118	+0.126%	$88.9M	$189.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2117	+0.060%	$20.5M	$110.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2119	+0.188%	$15K	$404K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2117	+0.074%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	+0.051%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2117	+0.070%	$10.8M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2117	+0.070%	$46.4M	$45.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2118	+0.112%	$24.5M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2115	−0.039%	$47.9M	$64.0M	75x	as long as short
BingX ENA-USDTshort	+0.0100%	4h	0.2118	+0.117%	—	$32.6M	—
Variational Omni ENA	+0.0100%	4h	0.2123	+0.372%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2119	+0.182%	$252K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2127	+0.551%	$355K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2121	+0.263%	$34K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2117	+0.055%	$178K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2065	−2.379%	$1K	$825K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2116	+0.027%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2123	+0.367%	$275K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2116	+0.027%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2116	+0.011%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2116	+0.013%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2129	+0.637%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0192%	1h	0.2118	+0.117%	$4K	$302	10x	as long as short
Extended ENA-USDlong	+0.0208%	1h	0.2115	long leg	$1.6M	$4.2M	50x
Kraken Futures PF_ENAUSD	+0.0241%	1h	0.2117	+0.097%	$2.7M	$5.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2117	+0.081%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2121	+0.259%	$5.6M	$6.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2116	+0.012%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0504%	1h	0.2117	+0.074%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2131	+0.717%	$841K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0765%	1h	0.2120	+0.221%	$114.2M	$78.3M	10x	as long as short
dYdX ENA-USD	+0.1686%	1h	0.2117	+0.059%	$140K	$15K	5x	as long as short