Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against edgeX+0.254%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$290.286% of the position

Long on edgeX Short on MEXC

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−0.200%−$20 · spread now +0.254%, 7d avg +0.023%

Together, before fees−0.216%+ Points / potential airdropedgeX: Active · farm board−$22 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: MEXC is 0.230% dearer against edgeX than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ENAUSDC	0.2082	0.0100	pay 0.0050% / 4h	1h 06m	$239K	$6.6M	20x
Short	MEXC ENA_USDT	0.2088	0.0100	get 0.0050% / 4h	1h 06m	$43.2M	$42.2M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.254%Rate

Funding earned: $0
Price spread: +0.254% → +0.023%: $23.03
Slippage, 4 orders: −$19.57
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee MEXC: 0 bp × 2 orders: $0
Net: −$5.53
Costs to cover: 0.286%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; MEXC: 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, 5 min ago	7.21 bp	11.7 bp −$12	13.2 bp −$132	44.7 bp −$4,466	doesn't fit
Sell MEXC live order book, 5 min ago	0.24 bp	3.2 bp −$3	9.0 bp −$90	37.9 bp −$3,794	67.7 bp −$33.9K

ENA on 42 exchanges

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	−0.0181%	4h	0.2086	+0.177%	$43K	$16K	10x	as long as short
01 Exchange ENAUSD	−0.0176%	1h	0.2089	+0.316%	$4K	$60	10x	as long as short
Kraken Futures PF_ENAUSD	−0.0134%	1h	0.2087	+0.226%	$2.6M	$3.0M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2087	+0.234%	$53K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2087	+0.220%	$81K	—	150x	as long as short
Bitget ENAUSDT	+0.0012%	4h	0.2087	+0.201%	$47.5M	$55.7M	75x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	+1.896%	$734	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2090	+0.350%	$5.1M	$13.0M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2088	+0.268%	$55K	$386K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2085	+0.142%	$47K	—	10x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2089	+0.311%	$539K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2088	+0.282%	$112.0M	$74.1M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2089	+0.301%	$1.3M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2087	+0.199%	$379K	$497K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2088	+0.266%	$124.5M	$402.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2087	+0.230%	$83.8M	$183.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2088	+0.249%	$20.5M	$97.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2081	−0.054%	$32K	$314K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2089	+0.316%	$77K	$219K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2070	−0.597%	$101K	$11K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2087	+0.234%	$14.0M	$27.6M	50x	as long as short
MEXC ENA_USDTshort	+0.0100%	4h	0.2088	+0.254%	$43.2M	$42.2M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2089	+0.311%	$24.8M	$14.6M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2087	+0.234%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2087	+0.230%	$403K	$468K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2078	−0.206%	$2.8M	$7.7M	—	as long as short
edgeX ENAUSDClong	+0.0100%	4h	0.2082	long leg	$239K	$6.6M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2084	+0.076%	$353K	$4.2M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2084	+0.076%	$18K	$652K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2087	+0.244%	$116K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2039	−2.099%	$1K	$929K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2087	+0.220%	$6K	$5K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2092	+0.470%	$269K	$769K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2087	+0.220%	$1.8M	$9.1M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2087	+0.219%	$1.6M	$4.5M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2087	+0.242%	$73K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2084	+0.066%	$13K	$278K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0304% / S −0.0754%	1h	0.2087	+0.231%	$57K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2087	+0.220%	$5.4M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2087	+0.220%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0480%	1h	0.2092	+0.441%	$767K	$1.8M	50x	as long as short
dYdX ENA-USD	+0.0897%	1h	0.2087	+0.230%	$138K	$15K	5x	as long as short