Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Bybit against edgeX+0.325%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$440.439% of the position

Long on edgeX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 7 days−0.301%−$30 · spread now +0.325%, 7d avg −0.016%

Together, before fees−0.374%+ Points / potential airdropedgeX: Active · farm board−$37 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: Bybit is 0.341% dearer against edgeX than usual: you sell high and buy low, +$34 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ENAUSDC	0.2097	0.0100	pay 0.0050% / 4h	40m 47s	$242K	$6.9M	20x
Short	Bybit ENAUSDT	0.2104	0.0100	get 0.0050% / 4h	40m 47s	$85.4M	$175.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.325%Rate

Funding earned: $0
Price spread: +0.325% → −0.016%: $34.1
Slippage, 4 orders: −$23.88
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$9.78
Costs to cover: 0.439%
Break-even: never at this rate

Slippage from edgeX: live order book, 3 min ago; Bybit: 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 edgeX live order book, 3 min ago	7.15 bp	11.7 bp −$12	13.2 bp −$132	44.3 bp −$4,426	doesn't fit
Sell Bybit live order book, 3 min ago	0.24 bp	11.6 bp −$12	19.0 bp −$190	64.6 bp −$6,459	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	−0.0314%	1h	0.2100	+0.134%	$364K	$390K	5x	as long as short
01 Exchange ENAUSD	−0.0104%	1h	0.2098	+0.034%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0064%	4h	0.2097	+0.024%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2099	+0.082%	$78K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2098	+0.048%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.260%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2097	−0.023%	$8K	$266K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2101	+0.182%	$5.2M	$13.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2097	+0.001%	$55K	$501K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2098	+0.051%	$47K	$110	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2097	+0.020%	$662K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2106	+0.439%	$112.2M	$73.1M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2101	+0.199%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2098	+0.070%	$409K	$500K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2105	+0.377%	$128.5M	$415.9M	75x	as long as short
Bybit ENAUSDTshort	+0.0100%	4h	0.2104	+0.325%	$85.4M	$175.8M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2105	+0.392%	$20.8M	$102.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2093	−0.195%	$20K	$311K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2091	−0.286%	$77K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	+0.038%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2105	+0.368%	$11.0M	$21.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2103	+0.287%	$45.8M	$41.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2104	+0.358%	$24.6M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2103	+0.296%	$47.9M	$57.4M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2105	+0.382%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	−0.011%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDClong	+0.0100%	4h	0.2097	long leg	$242K	$6.9M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2095	−0.094%	$347K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2095	−0.095%	$20K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2099	+0.082%	$178K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2048	−2.355%	$845	$844K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2098	+0.048%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2104	+0.311%	$272K	$794K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2100	+0.144%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2102	+0.232%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2099	+0.074%	$73K	$4K	3x	as long as short
dYdX ENA-USD	+0.0126%	1h	0.2098	+0.063%	$139K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0244%	1h	0.2099	+0.116%	$2.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2098	+0.043%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2100	+0.129%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2097	−0.012%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2090	−0.328%	$851K	$1.5M	50x	as long as short