Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0312%/8h= +34.2% APRpaid last 24h +0.092%

Price spread now: Reya against SunX+2.444%7-day average — · you sell dearer than you buy

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

Long on SunX Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Reya is 2.444% dearer against SunX than usual: you sell high and buy low: +$244 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	SunX ENA-USDT	0.2074	0.0100	pay 0.0050% / 4h	44m 52s	$1K	$824K	20x
Short	Reya ENARUSDPERP	0.2124	0.0412	get 0.0051% / 1h	44m 52s	$1K	$5K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +2.444%Rate

Funding earned: $65.5
Price spread: +2.444% → 0.000%: $244.37
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: $295.87
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: SunX: live order book, 17 min ago; Reya: 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 SunX live order book, 17 min ago	265.66 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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_USDC	−0.0026%	4h	0.2125	+2.489%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2126	+2.537%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2126	+2.519%	$106K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+2.407%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2124	+2.435%	$63K	$522K	50x	as long as short
Backpack ENA_USDC_PERP	+0.0098%	1h	0.2126	+2.522%	$375K	$447K	5x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2125	+2.503%	$687K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2125	+2.498%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2126	+2.538%	$412K	$567K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2122	+2.348%	$131.1M	$454.8M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2121	+2.310%	$88.9M	$190.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2124	+2.435%	$20.6M	$112.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2124	+2.445%	$15K	$400K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2126	+2.532%	$84K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2125	+2.507%	$90K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2125	+2.464%	$10.9M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2124	+2.455%	$47.0M	$45.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2126	+2.513%	$24.5M	$16.3M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2122	+2.325%	$48.1M	$64.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2124	+2.450%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2126	+2.512%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2128	+2.646%	$253K	$7.7M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2129	+2.698%	$355K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2128	+2.628%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2125	+2.474%	$179K	$2.6M	10x	as long as short
SunX ENA-USDTlong	+0.0100%	4h	0.2074	long leg	$1K	$824K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2126	+2.532%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2130	+2.725%	$277K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2125	+2.484%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2125	+2.482%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2126	+2.519%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2129	+2.681%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0192%	1h	0.2127	+2.561%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2127	+2.564%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2125	+2.497%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2125	+2.503%	$5.6M	$7.0M	75x	as long as short
Extended ENA-USD	+0.0352%	1h	0.2124	+2.419%	$1.6M	$4.2M	50x	as long as short
Reya ENARUSDPERPshort	+0.0412%	1h	0.2124	+2.444%	$1K	$5K	15x
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2135	+2.942%	$843K	$2.1M	50x	as long as short
Lighter ENA	+0.0632%	1h	0.2126	+2.532%	$5.7M	$12.8M	10x	as long as short
Hyperliquid ENA	+0.0856%	1h	0.2128	+2.630%	$114.3M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1746%	1h	0.2125	+2.469%	$140K	$15K	5x	as long as short