Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.089%

Price spread now: MEXC against Hyperliquid−0.080%7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$210.209% of the position

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.267%−$27 on $10k

Price spread, last 7 days+0.007%+$1 · spread now −0.080%, 7d avg −0.085%

Together, before fees−0.261%+ Points / potential airdropHyperliquid: Season 2 · farm board−$26 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ENA	0.2130	0.0100	pay 0.0013% / 1h	35m 16s	$115.7M	$74.3M	10x
Short	MEXC ENA_USDT	0.2128	0.0100	get 0.0050% / 4h	2h 35m	$47.0M	$40.9M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Hyperliquid. 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 HyperliquidbpFee MEXCbpOrdersPrice spread, now −0.080%Rate

Funding earned: $0
Price spread: −0.080% → −0.085%: $0.53
Slippage, 4 orders: −$11.87
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 0 bp × 2 orders: $0
Net: −$20.34
Costs to cover: 0.209%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 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 Hyperliquid live order book, 9 min ago	0.47 bp	9.4 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.24 bp	2.6 bp −$3	6.7 bp −$67	34.8 bp −$3,479	67.8 bp −$33.9K

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	−0.0143%	4h	0.2127	−0.141%	$44K	$25K	10x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2129	−0.052%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2127	−0.108%	$74K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2127	−0.112%	$82K	—	150x	as long as short
Gate ENA_USDT	+0.0018%	4h	0.2127	−0.122%	$11.2M	$23.6M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.296%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2128	−0.080%	$57K	$466K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2126	−0.152%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2128	−0.085%	$659K	$1.7M	10x	as long as short
Hyperliquid ENAlong	+0.0100%	1h	0.2130	long leg	$115.7M	$74.3M	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2127	−0.120%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2127	−0.129%	$399K	$525K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2127	−0.127%	$128.9M	$417.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2125	−0.202%	$85.9M	$175.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2125	−0.197%	$21.3M	$104.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2104	−1.202%	$20K	$321K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2127	−0.127%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2112	−0.831%	$93K	−$0	10x	as long as short
MEXC ENA_USDTshort	+0.0100%	4h	0.2128	−0.080%	$47.0M	$40.9M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2129	−0.038%	$24.8M	$15.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2126	−0.155%	$48.3M	$58.0M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2127	−0.108%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2122	−0.379%	$3.1M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2116	−0.627%	$243K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2118	−0.549%	$353K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	−0.549%	$20K	$649K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2128	−0.061%	$190K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2076	−2.512%	$1K	$869K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2127	−0.127%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2130	+0.014%	$269K	$797K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2126	−0.174%	$1.8M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2127	−0.134%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2127	−0.141%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2121	−0.418%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0162%	1h	0.2128	−0.086%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0216%	1h	0.2128	−0.075%	$5.3M	$13.0M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0358%	1h	0.2127	−0.121%	$71K	—	100x	as long as short
dYdX ENA-USD	+0.0329%	1h	0.2126	−0.196%	$140K	$15K	5x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2128	−0.085%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2128	−0.088%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0593%	1h	0.2123	−0.296%	$360K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2131	+0.052%	$872K	$1.7M	50x	as long as short