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 +0.003%

Price spread now: edgeX against Bybit+0.116%61s7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as 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−$480.484% of the position

Long on Bybit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 7 days−0.164%−$16 · spread now +0.116%, 7d avg +0.013%

Together, before fees−0.097%+ Points / potential airdropedgeX: Active · farm board−$10 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 0.103% dearer against Bybit than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.013%. The two prices were read 61 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	Bybit ENAUSDT	0.2111	0.0100	pay 0.0050% / 4h	2h 28m	$85.3M	$175.1M	50x
Short	edgeX ENAUSDC	0.2113	0.0100	get 0.0050% / 4h	2h 28m	$242K	$6.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Bybit. 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 BybitbpFee edgeXbpOrdersPrice spread, now +0.116%Rate

Funding earned: $0
Price spread: +0.116% → +0.013%: $10.27
Slippage, 4 orders: −$28.39
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$38.12
Costs to cover: 0.484%
Break-even: never at this rate

Slippage from Bybit: live order book, 6 min ago; edgeX: live order book, 1 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 Bybit live order book, 6 min ago	0.24 bp	10.5 bp −$11	16.9 bp −$169	64.6 bp −$6,463	doesn't fit
Sell edgeX live order book, 1 min ago	9.47 bp	14.0 bp −$14	15.5 bp −$155	48.7 bp −$4,867	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
Orderly PERP_ENA_USDC	−0.0145%	4h	0.2116	+0.256%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2117	+0.280%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2117	+0.322%	$82K	—	150x	as long as short
Gate ENA_USDT	+0.0018%	4h	0.2111	+0.024%	$11.1M	$23.7M	50x	as long as short
01 Exchange ENAUSD	+0.0024%	1h	0.2112	+0.057%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.602%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2111	+0.014%	$57K	$467K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2112	+0.038%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2109	−0.072%	$653K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2112	+0.062%	$114.7M	$74.3M	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	0.2113	+0.087%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2112	+0.057%	$396K	$525K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2111	+0.019%	$128.0M	$417.7M	75x	as long as short
Bybit ENAUSDTlong	+0.0100%	4h	0.2111	long leg	$85.3M	$175.1M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2109	−0.071%	$21.1M	$103.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2117	+0.289%	$20K	$323K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2112	+0.062%	$79K	$276K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2109	−0.066%	$46.7M	$41.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2114	+0.137%	$24.6M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2107	−0.156%	$47.9M	$57.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2112	+0.066%	—	$31.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2111	+0.015%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDCshort	+0.0100%	4h	0.2113	+0.116%	$242K	$6.9M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2112	+0.059%	$350K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2114	+0.156%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2111	−0.005%	$188K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2067	−2.080%	$1K	$871K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2115	+0.204%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	+0.298%	$267K	$795K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2114	+0.156%	$1.8M	$8.9M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2118	+0.346%	$93K	−$0	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2112	+0.041%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2117	+0.284%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2115	+0.213%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0162%	1h	0.2116	+0.262%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0200%	1h	0.2114	+0.142%	$5.2M	$13.0M	10x	as long as short
dYdX ENA-USD	+0.0282%	1h	0.2113	+0.092%	$140K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0358%	1h	0.2117	+0.312%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2115	+0.185%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2110	−0.039%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0597%	1h	0.2114	+0.180%	$358K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2123	+0.587%	$869K	$1.7M	50x	as long as short