Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h +0.058%

Price spread now: BingX against 01 Exchange−0.066%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on BingX

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—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and BingX is 0.066% cheaper against 01 Exchange than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ENAUSD	0.2122	0.0192	pay 0.0024% / 1h	21m 19s	$4K	$302	10x
Short	BingX ENA-USDC	0.2121	0.0100	get 0.0050% / 4h	21m 19s	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against 01 Exchange. 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 01 ExchangebpFee BingXbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$19.32
Price spread: −0.066% → 0.000%: −$6.6
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$42.92
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; BingX: live order book, 14 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 01 Exchange no order-book sample	—	—	—	—	—
Sell BingX live order book, 14 min ago	0.47 bp	8.6 bp −$9	19.9 bp −$199	72.5 bp −$7,251	518.9 bp −$259.5K

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_USDC	−0.0007%	4h	0.2119	−0.146%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2120	−0.108%	$92K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2120	−0.099%	$97K	—	150x	as long as short
Backpack ENA_USDC_PERP	+0.0032%	1h	0.2122	−0.019%	$375K	$445K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.066%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2120	−0.094%	$61K	$523K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2120	−0.090%	$679K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2121	−0.057%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2120	−0.086%	$410K	$562K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2121	−0.068%	$131.0M	$452.5M	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	0.2119	−0.127%	$89.0M	$189.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2119	−0.118%	$20.6M	$110.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2119	−0.123%	$15K	$404K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2121	−0.047%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.259%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2120	−0.085%	$10.8M	$21.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2121	−0.061%	$46.5M	$45.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2122	0.000%	$24.5M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2117	−0.221%	$48.0M	$63.8M	75x	as long as short
BingX ENA-USDCshort	+0.0100%	4h	0.2121	−0.066%	—	$6.5M	—
Variational Omni ENA	+0.0100%	4h	0.2120	−0.082%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2116	−0.297%	$252K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	−0.224%	$354K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2117	−0.236%	$34K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2121	−0.038%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2070	−2.441%	$1K	$826K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2119	−0.141%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2122	−0.009%	$275K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2119	−0.141%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2119	−0.135%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2119	−0.136%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2118	−0.184%	$7K	$347K	10x	as long as short
01 Exchange ENAUSDlong	+0.0192%	1h	0.2122	long leg	$4K	$302	10x
Extended ENA-USD	+0.0208%	1h	0.2118	−0.186%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0241%	1h	0.2121	−0.063%	$2.7M	$5.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2120	−0.089%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2120	−0.085%	$5.6M	$6.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2120	−0.077%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0520%	1h	0.2122	+0.005%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2120	−0.108%	$837K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0761%	1h	0.2124	+0.113%	$114.4M	$78.3M	10x	as long as short
dYdX ENA-USD	+0.1617%	1h	0.2121	−0.046%	$140K	$15K	5x	as long as short