Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.030%

Price spread now: Backpack against Binance+0.023%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$330.327% of the position

Long on Binance Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.112%+$11 on $10k

Price spread, last 4 days (all we have)−0.297%−$30 · spread now +0.023%, 7d avg +0.032%

Together, before fees−0.185%−$19 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ENAUSDT	0.2147	0.0100	pay 0.0050% / 4h	3h 18m	$129.5M	$426.9M	75x
Short	Backpack ENA_USDC_PERP	0.2147	0.0100	get 0.0013% / 1h	18m 41s	$415K	$479K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Binance. 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 BinancebpFee BackpackbpOrdersPrice spread, now +0.023%Rate

Funding earned: $0
Price spread: +0.023% → +0.032%: −$0.87
Slippage, 4 orders: −$12.71
Fee Binance: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$33.58
Costs to cover: 0.327%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; Backpack: live order book, 15 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 Binance live order book, 10 min ago	0.24 bp	9.5 bp −$10	17.2 bp −$172	61.8 bp −$6,181	doesn't fit
Sell Backpack live order book, 15 min ago	0.70 bp	8.9 bp −$9	39.3 bp −$393	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
Phemex ENAUSDT	−0.0226%	4h	0.2147	+0.005%	$1.9M	$8.9M	50x	as long as short
01 Exchange ENAUSD	−0.0120%	1h	0.2149	+0.084%	$4K	$169	10x	as long as short
Orderly PERP_ENA_USDC	−0.0100%	4h	0.2147	−0.014%	$45K	$15K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2148	+0.051%	$76K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2147	+0.016%	$83K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	−1.164%	$734	$57K	5.5x	as long as short
Bitget ENAUSDT	+0.0068%	4h	0.2145	−0.084%	$48.7M	$60.5M	75x	as long as short
dYdX ENA-USD	+0.0090%	1h	0.2148	+0.037%	$142K	$16K	5x	as long as short
Lighter ENA	+0.0096%	1h	0.2149	+0.102%	$5.0M	$13.0M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2148	+0.051%	$55K	$496K	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0099%	8h	0.2146	−0.023%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2149	+0.089%	$568K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2150	+0.140%	$117.3M	$76.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2148	+0.073%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2147	+0.020%	$411K	$560K	10x	as long as short
Binance ENAUSDTlong	+0.0100%	4h	0.2147	long leg	$129.5M	$426.9M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2147	−0.014%	$89.0M	$192.6M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2147	+0.009%	$21.2M	$108.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2140	−0.307%	$39K	$330K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2147	+0.005%	$80K	$284K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2147	+0.015%	$105K	$12K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2147	+0.014%	$13.4M	$28.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2147	−0.005%	$42.3M	$43.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2148	+0.056%	$25.2M	$15.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2147	−0.005%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERPshort	+0.0100%	1h	0.2147	+0.023%	$415K	$479K	5x
Variational Omni ENA	+0.0100%	4h	0.2144	−0.157%	$3.1M	$9.7M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2141	−0.278%	$250K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2144	−0.136%	$360K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2143	−0.182%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2150	+0.135%	$177K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2098	−2.259%	$1K	$927K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2148	+0.051%	$4K	$6K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2153	+0.284%	$268K	$845K	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2146	−0.038%	$1.6M	$4.7M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2146	−0.022%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2139	−0.377%	$13K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0194%	1h	0.2148	+0.060%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0756%	1h	0.2145	−0.094%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2148	+0.033%	$5.6M	$3.5M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2148	+0.051%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2154	+0.349%	$800K	$2.0M	50x	as long as short