Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.026%

Price spread now: Injective against Binance+1.558%7-day average — · you sell dearer than you buy

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

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.196%+$20 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 1.558% dearer against Binance than usual: you sell high and buy low (spread +1.558% now, against zero (this spread has no 7-day history yet)): +$156 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3 months. Mind the row above: over the last 7 days funding on this pair paid +0.196%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ENAUSDT	0.2091	0.0100	pay 0.0050% / 4h	2h 10m	$128.9M	$465.8M	75x
Short	Injective ENA/USDC PERP	0.2123	0.0033	get 0.0004% / 1h	10m 59s	$522	$57K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.558%Rate

Funding earned: −$14
Price spread: +1.558% → 0.000%: $155.76
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $131.74
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 3 min ago; Injective: 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 Binance live order book, 3 min ago	0.24 bp	5.2 bp −$5	15.6 bp −$156	60.9 bp −$6,088	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Backpack ENA_USDC_PERP	−0.0289%	1h	0.2092	+0.041%	$361K	$483K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0082%	4h	0.2088	−0.140%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2088	−0.155%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2089	−0.093%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2087	−0.161%	$96K	—	150x	as long as short
Injective ENA/USDC PERPshort	+0.0033%	1h	0.2123	+1.558%	$522	$57K	5.5x
Gate ENA_USDT	+0.0062%	4h	0.2091	−0.011%	$10.4M	$21.7M	50x	as long as short
Phoenix ENA	+0.0076%	1h	0.2094	+0.175%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2086	−0.231%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2087	−0.205%	$47K	$221	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2086	−0.226%	$654K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2090	−0.022%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2087	−0.205%	$404K	$593K	10x	as long as short
Binance ENAUSDTlong	+0.0100%	4h	0.2091	long leg	$128.9M	$465.8M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2090	−0.030%	$87.2M	$193.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2091	+0.027%	$20.2M	$113.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2089	−0.069%	$19K	$423K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2087	−0.183%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2087	−0.190%	$88K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2091	−0.002%	$45.5M	$49.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2091	+0.022%	$24.0M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2090	−0.054%	$47.3M	$66.0M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2091	−0.002%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2096	+0.269%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2098	+0.324%	$249K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2091	+0.008%	$349K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2098	+0.343%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2088	−0.155%	$182K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2038	−2.537%	$1K	$809K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2088	−0.136%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2097	+0.290%	$271K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2090	−0.040%	$1.9M	$9.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2089	−0.094%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2089	−0.068%	$2.6M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0184%	1h	0.2090	−0.038%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0214% / S −0.0163%	1h	0.2087	−0.184%	$50K	—	100x	as long as short
Lighter ENA	+0.0304%	1h	0.2092	+0.032%	$5.6M	$13.2M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2087	−0.193%	$5.5M	$8.1M	75x	as long as short
Hyperliquid ENA	+0.0350%	1h	0.2094	+0.132%	$110.4M	$80.8M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2086	−0.224%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2090	−0.059%	$800K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.5465%	1h	0.2087	−0.200%	$138K	$15K	5x	as long as short