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: Bitget against edgeX+0.135%7-day average −0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$460.458% of the position

Long on edgeX Short on Bitget

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−0.142%−$14 · spread now +0.135%, 7d avg −0.044%

Together, before fees−0.158%+ Points / potential airdropedgeX: Active · farm board−$16 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: Bitget is 0.179% dearer against edgeX than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ENAUSDC	0.2109	0.0100	pay 0.0050% / 4h	3h 53m	$243K	$6.9M	20x
Short	Bitget ENAUSDT	0.2112	0.0100	get 0.0050% / 4h	3h 53m	$47.9M	$57.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against edgeX. 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 edgeXbpFee BitgetbpOrdersPrice spread, now +0.135%Rate

Funding earned: $0
Price spread: +0.135% → −0.044%: $17.9
Slippage, 4 orders: −$24.82
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$27.92
Costs to cover: 0.458%
Break-even: never at this rate

Slippage from edgeX: live order book, 6 min ago; Bitget: live order book, 5 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 edgeX live order book, 6 min ago	7.10 bp	11.6 bp −$12	13.1 bp −$131	44.0 bp −$4,399	doesn't fit
Sell Bitget live order book, 5 min ago	0.47 bp	13.8 bp −$14	23.5 bp −$235	50.9 bp −$5,092	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	−0.0251%	1h	0.2111	+0.064%	$361K	$401K	5x	as long as short
Phemex ENAUSDT	−0.0214%	4h	0.2111	+0.078%	$1.8M	$8.9M	50x	as long as short
Orderly PERP_ENA_USDC	−0.0084%	4h	0.2111	+0.078%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2111	+0.078%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2113	+0.176%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.666%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0042%	4h	0.2113	+0.158%	$11.1M	$22.0M	50x	as long as short
dYdX ENA-USD	+0.0063%	1h	0.2113	+0.195%	$140K	$15K	5x	as long as short
01 Exchange ENAUSD	+0.0064%	1h	0.2114	+0.234%	$4K	$302	10x	as long as short
Phoenix ENA	+0.0076%	1h	0.2109	−0.007%	$8K	$274K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ENAUSDT	+0.0096%	1h	0.2114	+0.220%	$56K	$464K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2114	+0.216%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2115	+0.246%	$657K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2114	+0.221%	$1.5M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2115	+0.247%	$403K	$511K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2115	+0.245%	$128.6M	$415.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2115	+0.267%	$85.4M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2116	+0.301%	$21.0M	$104.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2111	+0.083%	$20K	$319K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2115	+0.267%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2115	+0.284%	$93K	$4K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2114	+0.215%	$46.1M	$40.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2114	+0.244%	$25.0M	$15.6M	75x	as long as short
Bitget ENAUSDTshort	+0.0100%	4h	0.2112	+0.135%	$47.9M	$57.7M	75x
BingX ENA-USDC	+0.0100%	4h	0.2114	+0.220%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2108	−0.075%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDClong	+0.0100%	4h	0.2109	long leg	$243K	$6.9M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2111	+0.065%	$352K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2112	+0.125%	$20K	$649K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2115	+0.282%	$178K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2062	−2.250%	$1K	$852K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2110	+0.030%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2119	+0.462%	$274K	$793K	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2113	+0.159%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2111	+0.082%	$74K	$4K	3x	as long as short
Lighter ENA	+0.0112%	1h	0.2116	+0.305%	$5.2M	$13.2M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0173%	1h	0.2112	+0.115%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2113	+0.168%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2113	+0.192%	$5.6M	$3.0M	75x	as long as short
Hyperliquid ENA	+0.0377%	1h	0.2117	+0.339%	$115.4M	$74.0M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2112	+0.121%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2120	+0.500%	$866K	$1.7M	50x	as long as short