Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.011%

Price spread now: MEXC against Extended+0.006%7-day average +0.032% · 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−$19as in the Price arb table

costs, in and out, $10k−$160.165% of the position

Long on Extended Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 7 days−0.010%−$1 · spread now +0.006%, 7d avg +0.032%

Together, before fees−0.074%+ Points / potential airdropExtended: Active · farm board−$7 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 0.025% cheaper against Extended than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ENA-USD	0.2104	0.0104	pay 0.0013% / 1h	21m 06s	$1.6M	$4.2M	50x
Short	MEXC ENA_USDT	0.2104	0.0100	get 0.0050% / 4h	3h 21m	$45.6M	$41.0M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$0.84
Price spread: +0.006% → +0.032%: −$2.54
Slippage, 4 orders: −$11.47
Fee Extended: 2.5 bp × 2 orders: −$5
Fee MEXC: 0 bp × 2 orders: $0
Net: −$19.85
Costs to cover: 0.165%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; MEXC: 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, 3 min ago	0.48 bp	5.3 bp −$5	14.7 bp −$147	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.24 bp	3.8 bp −$4	6.2 bp −$62	35.3 bp −$3,528	65.5 bp −$32.7K

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	−0.0117%	4h	0.2105	+0.054%	$44K	$26K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0109%	1h	0.2105	+0.044%	$359K	$402K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2106	+0.087%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2106	+0.076%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0024%	1h	0.2105	+0.054%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.904%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2105	+0.030%	$56K	$465K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2105	+0.051%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2104	+0.006%	$653K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2105	+0.047%	$1.5M	$3.2M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2105	+0.035%	$401K	$513K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2104	+0.001%	$127.6M	$413.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2104	−0.003%	$85.1M	$174.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2104	+0.006%	$21.0M	$103.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2102	−0.094%	$22K	$333K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2106	+0.077%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2100	−0.210%	$92K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2104	−0.032%	$11.2M	$22.4M	50x	as long as short
MEXC ENA_USDTshort	+0.0100%	4h	0.2104	+0.006%	$45.6M	$41.0M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2106	+0.096%	$24.9M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2103	−0.060%	$47.8M	$57.6M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2104	+0.001%	—	$31.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2100	−0.219%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2100	−0.205%	$241K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2102	−0.133%	$348K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2102	−0.113%	$20K	$652K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2106	+0.092%	$191K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2048	−2.679%	$1K	$854K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2105	+0.030%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2108	+0.163%	$273K	$790K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2105	+0.030%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USDlong	+0.0104%	1h	0.2104	long leg	$1.6M	$4.2M	50x
Aevo ENA-PERP	+0.0104%	1h	0.2106	+0.057%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2102	−0.089%	$8K	$274K	10x	as long as short
Hyperliquid ENA	+0.0167%	1h	0.2105	+0.054%	$114.4M	$74.0M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0173%	1h	0.2106	+0.097%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0184%	1h	0.2106	+0.082%	$5.2M	$13.3M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2106	+0.067%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2104	−0.003%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2105	+0.029%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2104	−0.013%	$861K	$1.7M	50x	as long as short
dYdX ENA-USD	+0.1141%	1h	0.2105	+0.026%	$139K	$15K	5x	as long as short