Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0244%/8h= −26.7% APRpaid last 24h +0.048%

Price spread now: Aster against Extended+0.051%7-day average +0.110% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.075%+$7 on $10k

Price spread, last 4 days (all we have)+0.087%+$9 · spread now +0.051%, 7d avg +0.110%

Together, before fees+0.162%+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm board+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Aster is 0.059% cheaper against Extended than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.110%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.075%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.075% in total (about 3.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ENA-USD	0.2125	0.0344	pay 0.0043% / 1h	50m 16s	$1.6M	$4.2M	50x
Short	Aster ENAUSDT	0.2126	0.0100	get 0.0050% / 4h	50m 16s	$1.5M	$3.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Extended. 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 ExtendedbpFee AsterbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$51.24
Price spread: +0.051% → +0.110%: −$5.85
Slippage, 4 orders: −$17.83
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$87.92
Costs to cover: 0.308%
Break-even: never at this rate

Slippage from Extended: live order book, 4 min ago; Aster: 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 Extended live order book, 4 min ago	0.24 bp	5.9 bp −$6	14.4 bp −$144	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	2.58 bp	8.2 bp −$8	18.8 bp −$188	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
Orderly PERP_ENA_USDC	−0.0029%	4h	0.2125	+0.003%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2126	+0.060%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2126	+0.036%	$106K	—	150x	as long as short
Backpack ENA_USDC_PERP	+0.0031%	1h	0.2126	+0.050%	$375K	$447K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.063%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2125	+0.012%	$63K	$525K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2125	+0.036%	$683K	$1.8M	10x	as long as short
Aster ENAUSDTshort	+0.0100%	4h	0.2126	+0.051%	$1.5M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2125	−0.006%	$411K	$573K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2125	+0.008%	$131.4M	$455.5M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2125	+0.022%	$89.3M	$190.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2126	+0.060%	$20.6M	$112.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2128	+0.168%	$15K	$403K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2126	+0.060%	$84K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2125	+0.035%	$90K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2125	+0.012%	$10.9M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2125	+0.022%	$47.0M	$45.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2127	+0.097%	$24.5M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2124	−0.030%	$48.2M	$64.7M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2125	+0.008%	—	$32.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2124	−0.040%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2116	−0.411%	$251K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2116	−0.411%	$351K	$4.6M	10x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2126	+0.050%	$179K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2074	−2.369%	$1K	$822K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2125	+0.012%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.201%	$276K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2124	−0.035%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2125	+0.016%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2126	+0.056%	$78K	$11K	3x	as long as short
ApeX Omni ENAUSDT	+0.0131%	1h	0.2128	+0.154%	$32K	$712K	50x	as long as short
01 Exchange ENAUSD	+0.0160%	1h	0.2127	+0.121%	$4K	$312	10x	as long as short
Phoenix ENA	+0.0189%	1h	0.2115	−0.439%	$6K	$347K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2126	+0.060%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2125	+0.016%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2124	−0.025%	$5.6M	$8.1M	75x	as long as short
Extended ENA-USDlong	+0.0344%	1h	0.2125	long leg	$1.6M	$4.2M	50x
Reya ENARUSDPERP	+0.0412%	1h	0.2125	−0.001%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2135	+0.460%	$843K	$2.1M	50x	as long as short
Lighter ENA	+0.0592%	1h	0.2127	+0.111%	$5.7M	$12.8M	10x	as long as short
Hyperliquid ENA	+0.0750%	1h	0.2129	+0.215%	$114.4M	$78.8M	10x	as long as short
dYdX ENA-USD	+0.1677%	1h	0.2125	+0.027%	$140K	$15K	5x	as long as short