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 −0.017%

Price spread now: Bitget against Extended−0.043%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$290.288% of the position

Long on Extended Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 7 days+0.004%$0 · spread now −0.043%, 7d avg −0.029%

Together, before fees−0.049%+ Points / potential airdropExtended: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.029%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.053% in total (about -2.8% 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	0.2126	0.0344	pay 0.0043% / 1h	48m 40s	$1.6M	$4.2M	50x
Short	Bitget ENAUSDT	0.2125	0.0100	get 0.0050% / 4h	48m 40s	$48.2M	$64.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$51.24
Price spread: −0.043% → −0.029%: −$1.44
Slippage, 4 orders: −$11.8
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$81.49
Costs to cover: 0.288%
Break-even: never at this rate

Slippage from Extended: live order book, 5 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 Extended live order book, 5 min ago	0.24 bp	5.9 bp −$6	14.4 bp −$144	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	0.94 bp	8.4 bp −$8	16.1 bp −$161	40.8 bp −$4,078	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	0.2127	+0.065%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2128	+0.089%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2130	+0.198%	$106K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.118%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0080%	1h	0.2130	+0.192%	$376K	$447K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2129	+0.145%	$63K	$525K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2130	+0.169%	$684K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2128	+0.095%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2127	+0.029%	$412K	$567K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2127	+0.054%	$131.4M	$455.2M	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	0.2126	−0.015%	$89.0M	$191.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2127	+0.027%	$20.6M	$112.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2128	+0.112%	$15K	$401K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2127	+0.051%	$84K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2125	−0.021%	$90K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2127	+0.046%	$10.9M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2126	+0.009%	$47.0M	$45.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2127	+0.074%	$24.5M	$16.3M	75x	as long as short
Bitget ENAUSDTshort	+0.0100%	4h	0.2125	−0.043%	$48.2M	$64.7M	75x
BingX ENA-USDT	+0.0100%	4h	0.2126	+0.009%	—	$32.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2124	−0.096%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2124	−0.086%	$253K	$7.7M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	−0.073%	$354K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2124	−0.090%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2130	+0.201%	$179K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2078	−2.235%	$1K	$823K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2128	+0.098%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2132	+0.296%	$276K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2127	+0.051%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2126	0.000%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2127	+0.050%	$78K	$11K	3x	as long as short
01 Exchange ENAUSD	+0.0168%	1h	0.2131	+0.239%	$4K	$302	10x	as long as short
Phoenix ENA	+0.0189%	1h	0.2125	−0.029%	$6K	$347K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2128	+0.118%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2130	+0.199%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2128	+0.089%	$5.6M	$7.4M	75x	as long as short
Extended ENA-USDlong	+0.0344%	1h	0.2126	long leg	$1.6M	$4.2M	50x
Reya ENARUSDPERP	+0.0412%	1h	0.2130	+0.169%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2135	+0.404%	$843K	$2.1M	50x	as long as short
Lighter ENA	+0.0640%	1h	0.2129	+0.154%	$5.7M	$12.8M	10x	as long as short
Hyperliquid ENA	+0.0820%	1h	0.2131	+0.234%	$114.5M	$78.8M	10x	as long as short
dYdX ENA-USD	+0.1740%	1h	0.2127	+0.037%	$140K	$15K	5x	as long as short