Settings8H · net · $10k
Funding arb · Price arb /

ENA

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRnext payment $0.13 per $10,000 · paid last 24h −0.039%
Price spread now: 01 Exchange against Bulk−0.585%7-day average · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)no history yet
Price spread, last 7 daysno price history on both exchanges yet
Together, before feesneeds both histories
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and 01 Exchange is 0.585% cheaper against Bulk than usual: you would sell low and buy high (−$58 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBulk ENA-USD0.21200.0100pay 0.0013% / 1h9m 00s$93K$4K10x
Short01 Exchange ENAUSD0.21080get 0.0000% / 1h9m 00s$4K$30210x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

01 Exchange against Bulk. 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

Funding earned
−$21
Price spread: −0.585% → 0.000%
−$58.49
Slippage, 4 orders
no order book: not counted
Fee Bulk: 3.5 bp × 2 orders
−$7
Fee 01 Exchange: 3.5 bp × 2 orders
−$7
Net
−$93.49
Costs to cover
0.140%
Break-even
never at this rate
Slippage unknown: Bulk: no order-book sample; 01 Exchange: 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
LegHalf-spread$10k$100k$1M$5M
Buy Bulk no order-book sample
Sell 01 Exchange no order-book sample
Bulk and 01 Exchange: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Orderly PERP_ENA_USDC−0.0037%4h0.2107−0.594%$44K$25K10xas long as short
01 Exchange ENAUSDshort0.0000%1h0.2108−0.585%$4K$30210x
Deribit ENA_USDC-PERPETUAL0.0000%1h0.2108−0.547%$79K$1.3M50xas long as short
gTrade (Gains Network) ENA/USDL +0.0004% / S −0.0004%1h0.2108−0.544%$82K150xas long as short
Injective ENA/USDC PERP+0.0033%1h0.2123+0.160%$522$57K5.5xas long as short
Popdex ENAUSDT+0.0096%1h0.2108−0.566%$55K$498K50xas long as short
Nado ENA-PERP+0.0100%1h0.2108−0.587%$661K$1.7M10xas long as short
Hyperliquid ENA+0.0100%1h0.2109−0.538%$113.5M$71.6M10xas long as short
Aster ENAUSDT+0.0100%4h0.2107−0.591%$1.5M$2.9M50xas long as short
Pacifica ENA+0.0100%1h0.2108−0.580%$412K$501K10xas long as short
Show all 42 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Binance ENAUSDT+0.0100%4h0.2104−0.768%$128.9M$417.1M75xas long as short
Bybit ENAUSDT+0.0100%4h0.2103−0.797%$86.0M$174.5M50xas long as short
OKX ENA-USDT-SWAP+0.0100%4h0.2104−0.745%$20.7M$101.8M50xas long as short
Ondo Perps ENA-USD.P+0.0100%1h0.2112−0.401%$19K$333K5xas long as short
Arcus ENA-USD+0.0100%1h0.2108−0.566%$78K$275K10xas long as short
Bulk ENA-USDlong+0.0100%1h0.2120long leg$93K$4K10x
Gate ENA_USDT+0.0100%4h0.2107−0.632%$11.0M$21.6M50xas long as short
MEXC ENA_USDT+0.0100%4h0.2106−0.656%$45.7M$42.3M200xas long as short
KuCoin ENAUSDTM+0.0100%4h0.2107−0.590%$24.6M$15.6M75xas long as short
Bitget ENAUSDT+0.0100%4h0.2105−0.717%$47.9M$57.3M75xas long as short
BingX ENA-USDT+0.0100%4h0.2104−0.750%$32.3Mas long as short
Backpack ENA_USDC_PERP+0.0100%1h0.2108−0.585%$373K$360K5xas long as short
Variational Omni ENA+0.0100%4h0.2112−0.357%$3.4M$9.9Mas long as short
edgeX ENAUSDC+0.0100%4h0.2112−0.382%$244K$7.0M20xas long as short
GRVT ENA_USDT_Perp+0.0100%4h0.2114−0.292%$356K$4.9M10xas long as short
ApeX Omni ENAUSDT+0.0100%1h0.2119−0.047%$22K$651K50xas long as short
Polymarket Perps ENA-USD+0.0100%1h0.2108−0.575%$187K$2.3M10xas long as short
SunX ENA-USDT+0.0100%4h0.2057−2.962%$1K$840K20xas long as short
SoDEX ENA-USD+0.0100%1h0.2107−0.613%$3K$7K10xas long as short
HTX ENA-USDT+0.0100%4h0.2111−0.415%$276K$786K50xas long as short
Phemex ENAUSDT+0.0100%4h0.2109−0.519%$1.8M$8.8M50xas long as short
Paradex ENA-USD-PERP+0.0100%8h0.2107−0.610%$47K$11010xas long as short
Extended ENA-USD+0.0104%1h0.2105−0.687%$1.6M$4.1M50xas long as short
Aevo ENA-PERP+0.0104%1h0.2108−0.566%$74K$4K3xas long as short
Phoenix ENA+0.0150%1h0.2119−0.057%$8K$298K10xas long as short
GMX ENA/USD [ETH-USDC]L +0.0253% / S −0.0213%1h0.2109−0.522%$51K100xas long as short
Kraken Futures PF_ENAUSD+0.0286%1h0.2108−0.571%$2.6M$4.3M50xas long as short
Lighter ENA+0.0288%1h0.2110−0.481%$5.3M$13.9M10xas long as short
BloFin ENA-USDT+0.0340%4h0.2107−0.594%$5.6M$3.1M75xas long as short
dYdX ENA-USD+0.0370%1h0.2110−0.491%$139K$15K5xas long as short
Reya ENARUSDPERP+0.0412%1h0.2107−0.609%$1K$5K15xas long as short
Coinbase International ENA-PERP-INTX+0.0664%1h0.2115−0.217%$832K$1.5M50xas long as short