Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0109%/8h= +11.9% APRpaid last 24h +0.035%

Price spread now: 01 Exchange against Orderly+0.052%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and 01 Exchange is 0.052% dearer against Orderly than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ENA_USDC	0.2120	−0.0117	get 0.0059% / 4h	1h 27m	$44K	$26K	10x
Short	01 Exchange ENAUSD	0.2121	−0.0008	pay 0.0001% / 1h	27m 15s	$4K	$277	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange against Orderly. 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 OrderlybpFee 01 ExchangebpOrdersPrice spread, now +0.052%Rate

Funding earned: $22.9
Price spread: +0.052% → 0.000%: $5.19
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: $15.09
Costs to cover: 0.130%
Break-even: 2.4 days

Slippage unknown: Orderly: no order-book sample; 01 Exchange: 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 Orderly no order-book sample	—	—	—	—	—
Sell 01 Exchange no order-book sample	—	—	—	—	—

Orderly and 01 Exchange: 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_USDClong	−0.0117%	4h	0.2120	long leg	$44K	$26K	10x
01 Exchange ENAUSDshort	−0.0008%	1h	0.2121	+0.052%	$4K	$277	10x
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2122	+0.061%	$55K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2116	−0.192%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.151%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2122	+0.085%	$53K	$483K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2120	−0.026%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2120	−0.009%	$561K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2123	+0.151%	$114.9M	$76.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2122	+0.096%	$1.4M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2121	+0.034%	$402K	$544K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2122	+0.070%	$128.4M	$429.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2120	−0.024%	$89.5M	$186.6M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2121	+0.033%	$21.1M	$108.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2122	+0.075%	$33K	$330K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2120	−0.009%	$78K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.127%	$92K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2122	+0.071%	$12.4M	$26.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2122	+0.071%	$37.6M	$42.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2121	+0.057%	$24.6M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2119	−0.052%	$48.0M	$60.3M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2121	+0.033%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2119	−0.053%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2120	−0.017%	$256K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2121	+0.054%	$350K	$5.1M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	−0.104%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2122	+0.094%	$186K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2071	−2.325%	$1K	$904K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2121	+0.038%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2122	+0.094%	$266K	$820K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2118	−0.104%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2120	−0.024%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2122	+0.068%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2119	−0.080%	$8K	$276K	10x	as long as short
dYdX ENA-USD	+0.0184%	1h	0.2121	+0.015%	$140K	$16K	5x	as long as short
Lighter ENA	+0.0184%	1h	0.2123	+0.137%	$5.0M	$13.5M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0753%	1h	0.2118	−0.102%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2119	−0.080%	$5.6M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2117	−0.162%	$1K	$5K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0444%	1h	0.2122	+0.105%	$2.6M	$4.4M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0572%	1h	0.2119	−0.033%	$393K	$437K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2127	+0.297%	$877K	$1.8M	50x	as long as short