Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0236%/8h= −25.8% APRpaid last 24h −0.061%

Price spread now: Extended against BloFin−0.001%7-day average −0.121% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$330.330% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.394%−$39 on $10k

Price spread, last 4 days (all we have)−0.728%−$73 · spread now −0.001%, 7d avg −0.121%

Together, before fees−1.121%+ Points / potential airdropExtended: Active · farm board−$112 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.121% dearer against BloFin than usual: you sell high and buy low (spread −0.001% now, against its 7-day average of −0.121%): +$12 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ENA-USDT	0.2117	0.0340	pay 0.0170% / 4h	17m 07s	$5.6M	$3.0M	75x
Short	Extended ENA-USD	0.2117	0.0104	get 0.0013% / 1h	17m 07s	$1.6M	$4.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpFee ExtendedbpOrdersPrice spread, now −0.001%Rate

Funding earned: −$49.56
Price spread: −0.001% → −0.121%: $12.06
Slippage, 4 orders: −$16.03
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$70.52
Costs to cover: 0.330%
Break-even: never at this rate

Slippage from BloFin: live order book, 7 min ago; Extended: 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 BloFin live order book, 7 min ago	0.24 bp	10.1 bp −$10	19.1 bp −$191	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	0.47 bp	6.0 bp −$6	12.9 bp −$129	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
Backpack ENA_USDC_PERP	−0.0155%	1h	0.2119	+0.052%	$363K	$398K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0070%	4h	0.2117	0.000%	$44K	$25K	10x	as long as short
01 Exchange ENAUSD	−0.0056%	1h	0.2119	+0.052%	$4K	$302	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2118	+0.024%	$79K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2118	+0.028%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.283%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2119	+0.076%	$8K	$266K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2118	+0.028%	$56K	$475K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2117	−0.033%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2118	+0.009%	$657K	$1.7M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2119	+0.070%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2117	+0.004%	$404K	$517K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2118	+0.049%	$129.1M	$416.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2117	+0.005%	$85.4M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2118	+0.047%	$20.8M	$103.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2117	+0.005%	$18K	$317K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2118	+0.028%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.043%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2118	+0.024%	$11.1M	$22.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2118	+0.043%	$46.2M	$41.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2119	+0.057%	$24.6M	$15.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2116	−0.076%	$48.1M	$57.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2117	−0.014%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2118	+0.031%	$3.1M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2117	+0.002%	$245K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	−0.009%	$350K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2119	+0.076%	$20K	$649K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2118	+0.047%	$183K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2067	−2.394%	$2K	$848K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2118	+0.028%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2120	+0.132%	$274K	$796K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2118	+0.028%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USDshort	+0.0104%	1h	0.2117	−0.001%	$1.6M	$4.1M	50x
Aevo ENA-PERP	+0.0104%	1h	0.2118	+0.028%	$74K	$4K	3x	as long as short
Hyperliquid ENA	+0.0104%	1h	0.2120	+0.109%	$115.5M	$75.1M	10x	as long as short
dYdX ENA-USD	+0.0143%	1h	0.2117	−0.013%	$140K	$15K	5x	as long as short
Lighter ENA	+0.0152%	1h	0.2121	+0.156%	$5.2M	$13.5M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0242%	1h	0.2119	+0.091%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2118	+0.021%	$70K	—	100x	as long as short
BloFin ENA-USDTlong	+0.0340%	4h	0.2117	long leg	$5.6M	$3.0M	75x
Reya ENARUSDPERP	+0.0412%	1h	0.2117	−0.019%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2127	+0.449%	$869K	$1.7M	50x	as long as short