Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.011%

Price spread now: edgeX against Bitget+0.333%74s7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$440.443% of the position

Long on Bitget Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 7 days−0.331%−$33 · spread now +0.333%, 7d avg +0.044%

Together, before fees−0.315%+ Points / potential airdropedgeX: Active · farm board−$31 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: edgeX is 0.289% dearer against Bitget than usual: you sell high and buy low, +$29 on $10k if it goes back to its 7-day average of +0.044%. The two prices were read 74 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ENAUSDT	0.2107	0.0100	pay 0.0050% / 4h	3h 50m	$47.9M	$57.8M	75x
Short	edgeX ENAUSDC	0.2114	0.0100	get 0.0050% / 4h	3h 50m	$244K	$6.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Bitget. 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 BitgetbpFee edgeXbpOrdersPrice spread, now +0.333%Rate

Funding earned: $0
Price spread: +0.333% → +0.044%: $28.88
Slippage, 4 orders: −$23.33
Fee Bitget: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$15.44
Costs to cover: 0.443%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; edgeX: live order book, 4 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 Bitget live order book, 4 min ago	0.47 bp	10.9 bp −$11	20.0 bp −$200	52.2 bp −$5,224	doesn't fit
Sell edgeX live order book, 4 min ago	7.10 bp	11.6 bp −$12	13.1 bp −$131	44.2 bp −$4,421	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	−0.0215%	1h	0.2112	+0.228%	$362K	$402K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0085%	4h	0.2107	+0.024%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2108	+0.062%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2108	+0.068%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.788%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0056%	1h	0.2108	+0.071%	$4K	$302	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2107	+0.009%	$56K	$464K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2107	−0.001%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2107	+0.007%	$655K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2109	+0.081%	$1.5M	$3.2M	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	0.2108	+0.066%	$402K	$511K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2108	+0.066%	$128.2M	$415.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2108	+0.043%	$85.2M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2109	+0.109%	$21.0M	$103.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2105	−0.062%	$20K	$323K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2110	+0.152%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2115	+0.406%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2108	+0.071%	$11.1M	$22.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2107	+0.028%	$46.0M	$40.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2109	+0.095%	$24.9M	$15.6M	75x	as long as short
Bitget ENAUSDTlong	+0.0100%	4h	0.2107	long leg	$47.9M	$57.8M	75x
BingX ENA-USDT	+0.0100%	4h	0.2108	+0.062%	—	$32.1M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2110	+0.170%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDCshort	+0.0100%	4h	0.2114	+0.333%	$244K	$6.9M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2116	+0.435%	$355K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	+0.532%	$20K	$649K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2109	+0.095%	$177K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2057	−2.378%	$1K	$852K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2109	+0.104%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2111	+0.209%	$273K	$793K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2109	+0.104%	$1.7M	$8.9M	50x	as long as short
Lighter ENA	+0.0104%	1h	0.2110	+0.166%	$5.2M	$13.2M	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2108	+0.039%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2108	+0.042%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2115	+0.408%	$8K	$274K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0173%	1h	0.2109	+0.118%	$2.6M	$4.3M	50x	as long as short
dYdX ENA-USD	+0.0267%	1h	0.2110	+0.159%	$139K	$15K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2108	+0.055%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2110	+0.133%	$5.6M	$3.0M	75x	as long as short
Hyperliquid ENA	+0.0363%	1h	0.2111	+0.185%	$115.0M	$74.0M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2107	+0.010%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2114	+0.323%	$864K	$1.7M	50x	as long as short