Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Bybit against BingX−0.005%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$300.304% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.088%−$9 on $10k

Price spread, last 7 days+0.004%$0 · spread now −0.005%, 7d avg −0.013%

Together, before fees−0.084%−$8 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ENA-USDT	0.2094	0.0100	pay 0.0050% / 4h	1h 31m	—	$32.9M	—
Short	Bybit ENAUSDT	0.2093	0.0100	get 0.0050% / 4h	1h 31m	$87.1M	$191.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BingX. 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 BingXbpFee BybitbpOrdersPrice spread, now −0.005%Rate

Funding earned: $0
Price spread: −0.005% → −0.013%: $0.85
Slippage, 4 orders: −$9.43
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$29.58
Costs to cover: 0.304%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; Bybit: live order book, 2 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 BingX live order book, 7 min ago	0.71 bp	6.2 bp −$6	8.3 bp −$83	14.2 bp −$1,420	36.3 bp −$18.2K
Sell Bybit live order book, 2 min ago	0.24 bp	9.6 bp −$10	17.3 bp −$173	59.4 bp −$5,941	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
Backpack ENA_USDC_PERP	−0.0081%	1h	0.2093	−0.043%	$361K	$461K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0064%	4h	0.2091	−0.134%	$40K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2091	−0.110%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2091	−0.117%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.428%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2093	−0.031%	$2.6M	$5.6M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2092	−0.072%	$61K	$537K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2092	−0.060%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2091	−0.103%	$658K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2093	−0.005%	$1.5M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2092	−0.052%	$405K	$581K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2094	+0.016%	$129.0M	$457.9M	75x	as long as short
Bybit ENAUSDTshort	+0.0100%	4h	0.2093	−0.005%	$87.1M	$191.2M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2094	+0.029%	$20.2M	$112.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2091	−0.124%	$15K	$405K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2093	−0.024%	$82K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	+0.208%	$88K	$1K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2094	+0.005%	$10.4M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2094	+0.019%	$45.2M	$46.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2094	+0.005%	$23.9M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2093	−0.033%	$47.3M	$65.2M	75x	as long as short
BingX ENA-USDTlong	+0.0100%	4h	0.2094	long leg	—	$32.9M	—
Variational Omni ENA	+0.0100%	4h	0.2091	−0.129%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2092	−0.076%	$248K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2093	−0.032%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2093	−0.024%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2091	−0.115%	$184K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2041	−2.532%	$1K	$814K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2091	−0.119%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2095	+0.067%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2091	−0.119%	$1.9M	$9.2M	50x	as long as short
01 Exchange ENAUSD	+0.0104%	1h	0.2093	−0.029%	$4K	$432	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2092	−0.096%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2095	+0.053%	$5K	$356K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0231% / S −0.0389%	1h	0.2091	−0.142%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0288%	1h	0.2093	−0.022%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2094	+0.038%	$5.5M	$8.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2090	−0.170%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0504%	1h	0.2094	+0.029%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0570%	1h	0.2098	+0.196%	$110.8M	$79.6M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2096	+0.119%	$806K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1910%	1h	0.2093	−0.027%	$138K	$15K	5x	as long as short