Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0076%/8h= −8.3% APRpaid last 24h +0.683%

Price spread now: dYdX against SunX+2.105%7-day average +2.357% · you sell dearer than you buy

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

Long on SunX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.037%+$104 on $10k

Price spread, last 3 days (all we have)+0.098%+$10 · spread now +2.105%, 7d avg +2.357%

Together, before fees+1.134%+$113 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and dYdX is 0.252% cheaper against SunX than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of +2.357%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.037%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ENA-USDT	0.2095	0.0100	pay 0.0050% / 4h	3h 26m	$1K	$829K	20x
Short	dYdX ENA-USD	0.2139	0.0024	get 0.0003% / 1h	26m 51s	$141K	$15K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against SunX. 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 SunXbpFee dYdXbpOrdersPrice spread, now +2.105%Rate

Funding earned: −$15.99
Price spread: +2.105% → +2.357%: −$25.21
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$59.2
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 25 min ago; dYdX: live order book, 47 min ago. 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 SunX live order book, 25 min ago	330.91 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 47 min ago	195.88 bp	352.0 bp −$352	615.6 bp −$6,156	781.5 bp −$78.1K	1519.3 bp −$759.6K

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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2144	+2.339%	$80K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2145	+2.371%	$98K	—	150x	as long as short
dYdX ENA-USDshort	+0.0024%	1h	0.2139	+2.105%	$141K	$15K	5x
Orderly PERP_ENA_USDC	+0.0033%	4h	0.2144	+2.334%	$41K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.341%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0070%	1h	0.2147	+2.491%	$382K	$416K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2145	+2.372%	$63K	$520K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2146	+2.403%	$712K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2145	+2.379%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2141	+2.194%	$421K	$549K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2149	+2.565%	$133.4M	$444.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2149	+2.539%	$88.8M	$187.6M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2149	+2.572%	$21.1M	$110.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2141	+2.162%	$15K	$409K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2145	+2.372%	$106K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2143	+2.277%	$90K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2149	+2.572%	$10.9M	$21.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2149	+2.582%	$46.2M	$44.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2150	+2.625%	$24.7M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2149	+2.582%	$48.8M	$61.6M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2149	+2.558%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2123	+1.337%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2136	+1.930%	$250K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	+1.353%	$357K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2140	+2.133%	$33K	$688K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2146	+2.434%	$180K	$2.4M	10x	as long as short
SunX ENA-USDTlong	+0.0100%	4h	0.2095	long leg	$1K	$829K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2146	+2.420%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2152	+2.711%	$279K	$1.2M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2145	+2.372%	$2.0M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2140	+2.140%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2144	+2.335%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2144	+2.300%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0216%	1h	0.2147	+2.444%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0233%	1h	0.2147	+2.471%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0272%	1h	0.2150	+2.612%	$1.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0332% / S −0.0430%	1h	0.2144	+2.340%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2146	+2.434%	$5.6M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2146	+2.397%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2143	+2.296%	$848K	$1.8M	50x	as long as short
Lighter ENA	+0.0736%	1h	0.2149	+2.553%	$5.7M	$12.6M	10x	as long as short
Hyperliquid ENA	+0.0746%	1h	0.2149	+2.572%	$115.9M	$75.4M	10x	as long as short