Settings8H · net · $10k
Funding arb · Price arb /

ENA

all ENA markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 04:00 UTC+0.0244%/8h= +26.7% APRpaid last 24h −0.062%
Price spread now: BloFin against Lighter−0.266%7-day average −0.043% · you buy dearer than you sell
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs−$47as in the Price arb table
costs, in and out, $10k−$250.246% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days−0.015%−$1 on $10k
Price spread, last 4 days (all we have)+0.739%+$74 · spread now −0.266%, 7d avg −0.043%
Together, before fees+0.724%+ Points / potential airdropLighter: Season 3 · farm board+$72 on $10k · with fees, hour by hour
Funding pays, the price is against you. BloFin is 0.223% cheaper against Lighter than usual: you would sell low and buy high (spread −0.266% now, against its 7-day average of −0.043%). If the spread goes back, that is −$22 on $10k: about 3.0 days of funding at the current rate (+$7 a day).
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.015% in total (about -0.8% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter ENA0.21050.0096pay 0.0012% / 1h40m 24s$5.2M$13.4M10x
ShortBloFin ENA-USDT0.21000.0340get 0.0170% / 4h40m 24s$5.6M$3.0M75x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BloFin against Lighter. 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

Funding earned
$51.24
Price spread: −0.266% → −0.043%
−$22.31
Slippage, 4 orders
−$12.57
Fee Lighter: 0 bp × 2 orders
$0
Fee BloFin: 6 bp × 2 orders
−$12
Net
$4.36
Costs to cover
0.246%
Break-even
6.4 days
Slippage from Lighter: live order book, 13 min ago; BloFin: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Lighter live order book, 13 min ago0.71 bp1.9 bp −$25.5 bp −$55176.4 bp −$17.6Kdoesn't fit
Sell BloFin live order book, 3 min ago1.67 bp13.1 bp −$1319.4 bp −$19470.8 bp −$7,075doesn't fit

ENA on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Backpack ENA_USDC_PERP−0.0314%1h0.2100−0.261%$364K$390K5xas long as short
01 Exchange ENAUSD−0.0104%1h0.2104−0.071%$4K$30210xas long as short
Orderly PERP_ENA_USDC−0.0064%4h0.2097−0.370%$44K$25K10xas long as short
Deribit ENA_USDC-PERPETUAL0.0000%1h0.2099−0.313%$78K$1.2M50xas long as short
gTrade (Gains Network) ENA/USDL +0.0004% / S −0.0004%1h0.2098−0.347%$81K150xas long as short
Injective ENA/USDC PERP+0.0033%1h0.2123+0.860%$522$57K5.5xas long as short
Phoenix ENA+0.0076%1h0.2097−0.418%$8K$266K10xas long as short
Lighter ENAlong+0.0096%1h0.2105long leg$5.2M$13.4M10x
Popdex ENAUSDT+0.0096%1h0.2102−0.157%$55K$501K50xas long as short
Paradex ENA-USD-PERP+0.0100%8h0.2102−0.159%$47K$11010xas long as short
Show all 42 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Nado ENA-PERP+0.0100%1h0.2101−0.214%$662K$1.7M10xas long as short
Hyperliquid ENA+0.0100%1h0.2103−0.119%$112.0M$73.1M10xas long as short
Aster ENAUSDT+0.0100%4h0.2104−0.060%$1.5M$2.9M50xas long as short
Pacifica ENA+0.0100%1h0.2104−0.064%$410K$500K10xas long as short
Binance ENAUSDT+0.0100%4h0.2103−0.088%$128.4M$415.9M75xas long as short
Bybit ENAUSDT+0.0100%4h0.2101−0.223%$85.2M$175.8M50xas long as short
OKX ENA-USDT-SWAP+0.0100%4h0.2100−0.237%$20.8M$102.3M50xas long as short
Ondo Perps ENA-USD.P+0.0100%1h0.2093−0.589%$20K$311K5xas long as short
Arcus ENA-USD+0.0100%1h0.2093−0.584%$77K$275K10xas long as short
Bulk ENA-USD+0.0100%1h0.2098−0.357%$92K$4K10xas long as short
Gate ENA_USDT+0.0100%4h0.2103−0.109%$11.0M$21.7M50xas long as short
MEXC ENA_USDT+0.0100%4h0.2100−0.247%$45.7M$41.2M200xas long as short
KuCoin ENAUSDTM+0.0100%4h0.2101−0.199%$24.6M$15.6M75xas long as short
Bitget ENAUSDT+0.0100%4h0.2099−0.304%$47.8M$57.4M75xas long as short
BingX ENA-USDT+0.0100%4h0.2104−0.081%$32.3Mas long as short
Variational Omni ENA+0.0100%4h0.2097−0.406%$3.1M$10.1Mas long as short
edgeX ENAUSDC+0.0100%4h0.2097−0.395%$242K$6.9M20xas long as short
GRVT ENA_USDT_Perp+0.0100%4h0.2095−0.488%$347K$4.9M10xas long as short
ApeX Omni ENAUSDT+0.0100%1h0.2095−0.489%$20K$648K50xas long as short
Polymarket Perps ENA-USD+0.0100%1h0.2102−0.171%$178K$2.3M10xas long as short
SunX ENA-USDT+0.0100%4h0.2048−2.741%$845$844K20xas long as short
SoDEX ENA-USD+0.0100%1h0.2098−0.347%$4K$7K10xas long as short
HTX ENA-USDT+0.0100%4h0.2104−0.085%$272K$794K50xas long as short
Phemex ENAUSDT+0.0100%4h0.2100−0.252%$1.8M$8.8M50xas long as short
Extended ENA-USD+0.0104%1h0.2103−0.128%$1.6M$4.1M50xas long as short
Aevo ENA-PERP+0.0104%1h0.2099−0.321%$73K$4K3xas long as short
dYdX ENA-USD+0.0119%1h0.2104−0.083%$139K$15K5xas long as short
Kraken Futures PF_ENAUSD+0.0244%1h0.2099−0.279%$2.6M$4.2M50xas long as short
GMX ENA/USD [ETH-USDC]L +0.0253% / S −0.0213%1h0.2098−0.351%$51K100xas long as short
BloFin ENA-USDTshort+0.0340%4h0.2100−0.266%$5.6M$3.0M75x
Reya ENARUSDPERP+0.0412%1h0.2100−0.269%$1K$5K15xas long as short
Coinbase International ENA-PERP-INTX+0.0632%1h0.2090−0.722%$851K$1.5M50xas long as short