Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.026%

Price spread now: edgeX against Injective−1.448%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.157%−$16 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. edgeX is 1.448% cheaper against Injective than usual: you would sell low and buy high (spread −1.448% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$145 on $10k: about 2 months of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.157%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ENA/USDC PERP	0.2123	0.0033	pay 0.0004% / 1h	13m 37s	$522	$57K	5.5x
Short	edgeX ENAUSDC	0.2093	0.0100	get 0.0050% / 4h	1h 13m	$249K	$7.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Injective. 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 InjectivebpFee edgeXbpOrdersPrice spread, now −1.448%Rate

Funding earned: $14
Price spread: −1.448% → 0.000%: −$144.83
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$139.85
Costs to cover: 0.090%
Break-even: 76.9 days

Slippage unknown: Injective: no order-book sample; edgeX: live order book, just now. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell edgeX live order book, just now	7.16 bp	11.7 bp −$12	13.2 bp −$132	44.6 bp −$4,460	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0046%	4h	0.2097	−1.267%	$41K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0033%	1h	0.2097	−1.229%	$370K	$448K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2097	−1.257%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2097	−1.220%	$101K	—	150x	as long as short
Injective ENA/USDC PERPlong	+0.0033%	1h	0.2123	long leg	$522	$57K	5.5x
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2098	−1.200%	$2.6M	$5.5M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2097	−1.243%	$61K	$531K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2096	−1.286%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2098	−1.184%	$660K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2097	−1.267%	$1.5M	$3.3M	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	0.2095	−1.314%	$405K	$576K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2096	−1.305%	$129.3M	$455.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2094	−1.380%	$87.1M	$190.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2095	−1.347%	$20.2M	$111.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2095	−1.323%	$15K	$396K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2096	−1.290%	$82K	$220K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2095	−1.352%	$88K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2094	−1.366%	$10.5M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2095	−1.323%	$46.5M	$47.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2097	−1.224%	$23.9M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2094	−1.375%	$47.3M	$64.7M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2095	−1.356%	—	$32.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2091	−1.522%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDCshort	+0.0100%	4h	0.2093	−1.448%	$249K	$7.8M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2093	−1.453%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2092	−1.479%	$32K	$710K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2098	−1.201%	$177K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2047	−3.598%	$1K	$816K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2096	−1.290%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2099	−1.130%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2096	−1.290%	$1.9M	$9.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2097	−1.267%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2097	−1.224%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0136%	1h	0.2096	−1.295%	$4K	$432	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0242% / S −0.0416%	1h	0.2097	−1.243%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0336%	1h	0.2094	−1.384%	$1.6M	$4.1M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2097	−1.239%	$5.5M	$8.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2097	−1.238%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0520%	1h	0.2098	−1.206%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2100	−1.097%	$827K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0583%	1h	0.2099	−1.135%	$110.8M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1980%	1h	0.2095	−1.342%	$138K	$15K	5x	as long as short