Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Popdex against SunX+2.440%7-day average +2.367% · you sell dearer than you buy

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

Long on SunX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.499%−$50 · spread now +2.440%, 7d avg +2.367%

Together, before fees−0.502%−$50 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Popdex is 0.073% dearer against SunX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +2.367%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ENA-USDT	0.2066	0.0100	pay 0.0050% / 4h	15m 12s	$1K	$849K	20x
Short	Popdex ENAUSDT	0.2116	0.0096	get 0.0012% / 1h	15m 12s	$56K	$475K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +2.440%Rate

Funding earned: −$0.84
Price spread: +2.440% → +2.367%: $7.29
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$7.95
Costs to cover: 0.144%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 7 min ago; Popdex: live order book, 44 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, 7 min ago	260.28 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Popdex live order book, 44 min ago	1.89 bp	9.5 bp −$9	81.9 bp −$819	doesn't fit	doesn't fit

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
Backpack ENA_USDC_PERP	−0.0147%	1h	0.2116	+2.430%	$363K	$398K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0072%	4h	0.2115	+2.401%	$44K	$25K	10x	as long as short
01 Exchange ENAUSD	−0.0048%	1h	0.2117	+2.508%	$4K	$302	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2115	+2.416%	$79K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2113	+2.317%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+2.798%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2119	+2.585%	$8K	$266K	10x	as long as short
Popdex ENAUSDTshort	+0.0096%	1h	0.2116	+2.440%	$56K	$475K	50x
Paradex ENA-USD-PERP	+0.0100%	8h	0.2115	+2.410%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2114	+2.367%	$660K	$1.7M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2116	+2.454%	$1.5M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2115	+2.409%	$404K	$517K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2116	+2.430%	$128.9M	$416.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2115	+2.411%	$85.5M	$175.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2117	+2.464%	$21.0M	$104.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2117	+2.513%	$18K	$317K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2117	+2.488%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	+2.464%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2116	+2.435%	$11.1M	$22.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2117	+2.464%	$46.1M	$41.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2117	+2.469%	$24.6M	$15.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2114	+2.363%	$48.0M	$57.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2114	+2.353%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2115	+2.371%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2117	+2.475%	$245K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2118	+2.529%	$350K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2120	+2.634%	$20K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2117	+2.513%	$179K	$2.3M	10x	as long as short
SunX ENA-USDTlong	+0.0100%	4h	0.2066	long leg	$1K	$849K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2116	+2.440%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2118	+2.542%	$274K	$796K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2116	+2.440%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2115	+2.393%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2115	+2.398%	$74K	$4K	3x	as long as short
Hyperliquid ENA	+0.0122%	1h	0.2120	+2.619%	$115.5M	$75.1M	10x	as long as short
dYdX ENA-USD	+0.0155%	1h	0.2115	+2.406%	$140K	$15K	5x	as long as short
Lighter ENA	+0.0168%	1h	0.2119	+2.566%	$5.2M	$13.5M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0242%	1h	0.2117	+2.484%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2116	+2.457%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2117	+2.464%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2115	+2.401%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2118	+2.517%	$865K	$1.7M	50x	as long as short