Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0252%/8h= −27.6% APRpaid last 24h −0.006%

Price spread now: MEXC against Extended+0.034%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$120.123% of the position

Long on Extended Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$8 on $10k

Price spread, last 7 days−0.051%−$5 · spread now +0.034%, 7d avg +0.028%

Together, before fees−0.127%+ Points / potential airdropExtended: Active · farm board−$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.028%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.075% in total (about -3.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ENA-USD	0.2124	0.0352	pay 0.0044% / 1h	44m 46s	$1.6M	$4.2M	50x
Short	MEXC ENA_USDT	0.2124	0.0100	get 0.0050% / 4h	44m 46s	$47.0M	$45.4M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$52.92
Price spread: +0.034% → +0.028%: $0.66
Slippage, 4 orders: −$7.27
Fee Extended: 2.5 bp × 2 orders: −$5
Fee MEXC: 0 bp × 2 orders: $0
Net: −$64.53
Costs to cover: 0.123%
Break-even: never at this rate

Slippage from Extended: live order book, 4 min ago; MEXC: live order book, 4 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, 4 min ago	0.23 bp	4.9 bp −$5	11.9 bp −$119	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.23 bp	2.5 bp −$3	5.1 bp −$51	33.7 bp −$3,366	52.2 bp −$26.1K

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	−0.0026%	4h	0.2125	+0.067%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2126	+0.115%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2126	+0.097%	$106K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.013%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2124	+0.016%	$63K	$522K	50x	as long as short
Backpack ENA_USDC_PERP	+0.0098%	1h	0.2126	+0.100%	$375K	$447K	5x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2125	+0.082%	$687K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2125	+0.077%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2126	+0.115%	$412K	$567K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2122	−0.069%	$131.1M	$454.8M	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	0.2121	−0.107%	$88.9M	$190.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2124	+0.016%	$20.6M	$112.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2124	+0.025%	$15K	$400K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2126	+0.110%	$84K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2125	+0.085%	$90K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2125	+0.044%	$10.9M	$21.3M	50x	as long as short
MEXC ENA_USDTshort	+0.0100%	4h	0.2124	+0.034%	$47.0M	$45.4M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2126	+0.091%	$24.5M	$16.3M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2122	−0.093%	$48.1M	$64.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2124	+0.030%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2126	+0.090%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2128	+0.221%	$253K	$7.7M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2129	+0.272%	$355K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2128	+0.204%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2125	+0.053%	$179K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2074	−2.362%	$1K	$824K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2126	+0.110%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2130	+0.298%	$277K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2125	+0.063%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2125	+0.062%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2126	+0.098%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2129	+0.256%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0192%	1h	0.2127	+0.138%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2127	+0.141%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2125	+0.075%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2125	+0.082%	$5.6M	$7.0M	75x	as long as short
Extended ENA-USDlong	+0.0352%	1h	0.2124	long leg	$1.6M	$4.2M	50x
Reya ENARUSDPERP	+0.0412%	1h	0.2124	+0.024%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2135	+0.510%	$843K	$2.1M	50x	as long as short
Lighter ENA	+0.0632%	1h	0.2126	+0.110%	$5.7M	$12.8M	10x	as long as short
Hyperliquid ENA	+0.0856%	1h	0.2128	+0.205%	$114.3M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1746%	1h	0.2125	+0.048%	$140K	$15K	5x	as long as short