Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0139%/8h= +15.2% APRpaid last 24h +0.057%

Price spread now: Extended against Orderly−0.012%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Extended

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ENA_USDC	0.2111	−0.0035	get 0.0018% / 4h	1h 10m	$44K	$26K	10x
Short	Extended ENA-USD	0.2111	0.0104	get 0.0013% / 1h	10m 11s	$1.6M	$4.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Orderly. 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 OrderlybpFee ExtendedbpOrdersPrice spread, now −0.012%Rate

Funding earned: $29.23
Price spread: −0.012% → 0.000%: −$1.18
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $17.05
Costs to cover: 0.110%
Break-even: 2.9 days

Slippage unknown: Orderly: no order-book sample; Extended: live order book, 4 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Extended live order book, 4 min ago	0.24 bp	7.6 bp −$8	14.0 bp −$140	doesn't fit	doesn't fit

Orderly: 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_USDClong	−0.0035%	4h	0.2111	long leg	$44K	$26K	10x
Deribit ENA_USDC-PERPETUAL	−0.0034%	1h	0.2111	+0.014%	$79K	$1.3M	50x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2115	+0.213%	$4K	$302	10x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2112	+0.040%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.587%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2115	+0.189%	$55K	$498K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2114	+0.149%	$663K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2113	+0.076%	$113.8M	$71.9M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2113	+0.103%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2115	+0.199%	$413K	$506K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2111	−0.017%	$129.3M	$417.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2111	−0.019%	$86.3M	$175.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2111	+0.005%	$20.8M	$102.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2112	+0.024%	$19K	$333K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2115	+0.189%	$78K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2120	+0.426%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2111	0.000%	$11.1M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2111	−0.014%	$45.8M	$42.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2112	+0.062%	$24.6M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2109	−0.090%	$48.0M	$57.5M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2111	−0.019%	—	$32.2M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2112	+0.038%	$374K	$362K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2112	+0.068%	$3.4M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2119	+0.361%	$244K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2119	+0.379%	$357K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2119	+0.379%	$22K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2115	+0.199%	$188K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2064	−2.250%	$1K	$840K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2112	+0.047%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	+0.279%	$277K	$781K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2110	−0.047%	$1.8M	$8.8M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2115	+0.176%	$47K	$110	10x	as long as short
Extended ENA-USDshort	+0.0104%	1h	0.2111	−0.012%	$1.6M	$4.1M	50x
Aevo ENA-PERP	+0.0104%	1h	0.2111	−0.009%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2119	+0.369%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2112	+0.034%	$51K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0285%	1h	0.2113	+0.072%	$2.7M	$4.3M	50x	as long as short
Lighter ENA	+0.0312%	1h	0.2113	+0.114%	$5.3M	$13.9M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2115	+0.185%	$5.6M	$3.1M	75x	as long as short
dYdX ENA-USD	+0.0347%	1h	0.2115	+0.194%	$140K	$15K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2112	+0.042%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2115	+0.208%	$832K	$1.5M	50x	as long as short