Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0140%/8h= +15.3% APRpaid last 24h +0.008%

Price spread now: Extended against Bybit−0.009%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$280.284% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.125%+$12 on $10k

Price spread, last 7 days+0.029%+$3 · spread now −0.009%, 7d avg +0.001%

Together, before fees+0.154%+ Points / potential airdropExtended: Active · farm board+$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.001%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENAUSDT	0.2120	0.0100	pay 0.0050% / 4h	3h 55m	$89.2M	$188.5M	50x
Short	Extended ENA-USD	0.2120	0.0240	get 0.0030% / 1h	55m 31s	$1.6M	$4.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.009%Rate

Funding earned: $29.4
Price spread: −0.009% → +0.001%: −$1.03
Slippage, 4 orders: −$12.43
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$0.06
Costs to cover: 0.284%
Break-even: 7.0 days

Slippage from Bybit: live order book, 4 min ago; Extended: live order book, 3 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, 4 min ago	0.23 bp	12.3 bp −$12	18.9 bp −$189	61.9 bp −$6,192	doesn't fit
Sell Extended live order book, 3 min ago	1.41 bp	3.9 bp −$4	11.6 bp −$116	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	−0.0122%	1h	0.2125	+0.274%	$378K	$418K	5x	as long as short
dYdX ENA-USD	0.0000%	1h	0.2121	+0.073%	$140K	$15K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2124	+0.226%	$94K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2122	+0.119%	$105K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0015%	4h	0.2124	+0.212%	$41K	$24K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.175%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2120	+0.014%	$63K	$525K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2119	−0.014%	$681K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2121	+0.058%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2120	+0.009%	$411K	$560K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2120	+0.033%	$131.6M	$448.3M	75x	as long as short
Bybit ENAUSDTlong	+0.0100%	4h	0.2120	long leg	$89.2M	$188.5M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2120	+0.019%	$20.6M	$110.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2124	+0.226%	$15K	$395K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2121	+0.061%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2126	+0.297%	$90K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2119	−0.024%	$10.8M	$20.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2119	−0.014%	$46.3M	$44.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2121	+0.071%	$24.6M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2119	−0.042%	$48.1M	$63.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2120	+0.014%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2122	+0.088%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2124	+0.216%	$246K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	+0.203%	$359K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2124	+0.203%	$34K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2121	+0.047%	$176K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2074	−2.137%	$1K	$828K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2124	+0.203%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2126	+0.292%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2124	+0.203%	$2.0M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2119	−0.020%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2127	+0.359%	$78K	$2K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2124	+0.203%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0216%	1h	0.2120	+0.028%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0235%	1h	0.2126	+0.300%	$2.7M	$5.2M	50x	as long as short
Extended ENA-USDshort	+0.0240%	1h	0.2120	−0.009%	$1.6M	$4.2M	50x
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2122	+0.118%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2123	+0.170%	$5.6M	$4.7M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2119	−0.026%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2127	+0.363%	$840K	$1.9M	50x	as long as short
Lighter ENA	+0.0624%	1h	0.2122	+0.109%	$5.6M	$12.5M	10x	as long as short
Hyperliquid ENA	+0.0728%	1h	0.2123	+0.170%	$114.5M	$78.4M	10x	as long as short