Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.061%

Price spread now: Aster against Phemex+0.366%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$600.600% of the position

Long on Phemex Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.128%+$13 on $10k

Price spread, last 3 days (all we have)−0.495%−$50 · spread now +0.366%, 7d avg +0.019%

Together, before fees−0.367%+ Points / potential airdropAster: Stage 5 · farm board−$37 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: Aster is 0.347% dearer against Phemex than usual: you sell high and buy low, +$35 on $10k if it goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ENAUSDT	0.2112	0.0100	pay 0.0050% / 4h	2h 04m	$1.9M	$9.0M	50x
Short	Aster ENAUSDT	0.2120	0.0100	get 0.0050% / 4h	2h 04m	$1.5M	$3.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phemex. 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 PhemexbpFee AsterbpOrdersPrice spread, now +0.366%Rate

Funding earned: $0
Price spread: +0.366% → +0.019%: $34.68
Slippage, 4 orders: −$39.97
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$25.29
Costs to cover: 0.600%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Aster: live order book, 4 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 Phemex live order book, 4 min ago	9.50 bp	19.8 bp −$20	76.7 bp −$767	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	2.13 bp	10.5 bp −$11	25.6 bp −$256	doesn't fit	doesn't fit

ENA on 41 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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2113	+0.043%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2120	+0.390%	$87K	—	150x	as long as short
dYdX ENA-USD	+0.0011%	1h	0.2118	+0.276%	$140K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.540%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0034%	4h	0.2112	0.000%	$44K	$27K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2120	+0.379%	$54K	$507K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2121	+0.440%	$682K	$1.7M	10x	as long as short
Aster ENAUSDTshort	+0.0100%	4h	0.2120	+0.366%	$1.5M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2119	+0.343%	$414K	$530K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2120	+0.393%	$130.4M	$432.7M	75x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2122	+0.450%	$86.9M	$180.6M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2122	+0.483%	$20.9M	$105.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2116	+0.185%	$19K	$382K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2120	+0.379%	$78K	$289K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2109	−0.118%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2119	+0.346%	$11.0M	$21.9M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2121	+0.426%	$44.9M	$44.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2121	+0.445%	$24.6M	$16.0M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2119	+0.331%	$48.2M	$59.1M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2120	+0.379%	—	$32.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2114	+0.109%	$381K	$371K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2114	+0.103%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2106	−0.287%	$246K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2104	−0.366%	$355K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2106	−0.284%	$32K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2120	+0.402%	$183K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2062	−2.353%	$1K	$848K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2113	+0.047%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2114	+0.085%	$275K	$812K	50x	as long as short
Phemex ENAUSDTlong	+0.0100%	4h	0.2112	long leg	$1.9M	$9.0M	50x
Paradex ENA-USD-PERP	+0.0100%	8h	0.2118	+0.264%	$47K	$110	10x	as long as short
01 Exchange ENAUSD	+0.0104%	1h	0.2121	+0.407%	$4K	$302	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2112	−0.006%	$74K	$4K	3x	as long as short
Extended ENA-USD	+0.0176%	1h	0.2118	+0.306%	$1.6M	$4.1M	50x	as long as short
Phoenix ENA	+0.0188%	1h	0.2118	+0.265%	$7K	$351K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2120	+0.383%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0252%	1h	0.2114	+0.115%	$2.7M	$4.3M	50x	as long as short
Lighter ENA	+0.0400%	1h	0.2122	+0.459%	$5.5M	$13.8M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2120	+0.376%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0471%	1h	0.2123	+0.501%	$114.1M	$71.4M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2116	+0.175%	$830K	$1.6M	50x	as long as short