Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.037%

Price spread now: Popdex against Aster+0.179%7-day average −0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$400.397% of the position

Long on Aster Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.124%−$12 on $10k

Price spread, last 4 days (all we have)−0.366%−$37 · spread now +0.179%, 7d avg −0.080%

Together, before fees−0.490%+ Points / potential airdropAster: Stage 5 · farm board−$49 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 0.259% dearer against Aster than usual: you sell high and buy low, +$26 on $10k if it goes back to its 7-day average of −0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ENAUSDT	0.2124	0.0100	pay 0.0050% / 4h	2h 35m	$1.4M	$3.2M	50x
Short	Popdex ENAUSDT	0.2128	0.0096	get 0.0012% / 1h	35m 02s	$57K	$466K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Aster. 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 AsterbpFee PopdexbpOrdersPrice spread, now +0.179%Rate

Funding earned: −$0.84
Price spread: +0.179% → −0.080%: $25.87
Slippage, 4 orders: −$25.29
Fee Aster: 4 bp × 2 orders: −$8
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$14.66
Costs to cover: 0.397%
Break-even: never at this rate

Slippage from Aster: live order book, 4 min ago; Popdex: live order book, 14 min ago.

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 Aster live order book, 4 min ago	2.61 bp	8.4 bp −$8	18.9 bp −$189	doesn't fit	doesn't fit
Sell Popdex live order book, 14 min ago	1.66 bp	9.1 bp −$9	87.1 bp −$871	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
Orderly PERP_ENA_USDC	−0.0143%	4h	0.2127	+0.118%	$44K	$25K	10x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2129	+0.207%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2127	+0.150%	$74K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2127	+0.146%	$82K	—	150x	as long as short
Gate ENA_USDT	+0.0018%	4h	0.2125	+0.033%	$11.2M	$23.6M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.038%	$522	$57K	5.5x	as long as short
Popdex ENAUSDTshort	+0.0096%	1h	0.2128	+0.179%	$57K	$466K	50x
Paradex ENA-USD-PERP	+0.0100%	8h	0.2126	+0.106%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2128	+0.174%	$659K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2125	+0.023%	$115.4M	$74.3M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDTlong	+0.0100%	4h	0.2124	long leg	$1.4M	$3.2M	50x
Pacifica ENA	+0.0100%	1h	0.2127	+0.129%	$399K	$525K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2123	−0.080%	$128.7M	$417.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2121	−0.170%	$85.7M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2121	−0.160%	$21.3M	$104.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2104	−0.946%	$20K	$321K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2127	+0.132%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2112	−0.575%	$93K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2125	+0.056%	$46.9M	$41.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2128	+0.179%	$24.8M	$15.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2122	−0.090%	$48.2M	$58.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2124	−0.019%	—	$31.3M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2122	−0.122%	$3.1M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2116	−0.370%	$243K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2118	−0.292%	$353K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	−0.292%	$20K	$649K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2128	+0.198%	$190K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2076	−2.260%	$1K	$869K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2127	+0.132%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2130	+0.273%	$269K	$797K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2126	+0.085%	$1.8M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2127	+0.124%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2127	+0.117%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2121	−0.160%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0162%	1h	0.2128	+0.173%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0216%	1h	0.2128	+0.183%	$5.3M	$13.0M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0358%	1h	0.2127	+0.138%	$71K	—	100x	as long as short
dYdX ENA-USD	+0.0329%	1h	0.2126	+0.062%	$140K	$15K	5x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2128	+0.174%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2128	+0.170%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0605%	1h	0.2125	+0.061%	$360K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2131	+0.311%	$872K	$1.7M	50x	as long as short