Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.055%

Price spread now: Aster against Popdex+0.019%7-day average +0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$360.359% of the position

Long on Popdex Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.122%+$12 on $10k

Price spread, last 4 days (all we have)+0.192%+$19 · spread now +0.019%, 7d avg +0.073%

Together, before fees+0.314%+ Points / potential airdropAster: Stage 5 · farm board+$31 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 0.054% cheaper against Popdex than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex ENAUSDT	0.2095	0.0096	pay 0.0012% / 1h	20m 52s	$61K	$531K	50x
Short	Aster ENAUSDT	0.2095	0.0100	get 0.0050% / 4h	1h 20m	$1.5M	$3.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Popdex. 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 PopdexbpFee AsterbpOrdersPrice spread, now +0.019%Rate

Funding earned: $0.84
Price spread: +0.019% → +0.073%: −$5.38
Slippage, 4 orders: −$21.49
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Aster: 4 bp × 2 orders: −$8
Net: −$40.43
Costs to cover: 0.359%
Break-even: 343.9 days

Slippage from Popdex: live order book, 63 min ago; Aster: 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 Popdex live order book, 63 min ago	0.71 bp	7.7 bp −$8	66.4 bp −$664	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	2.87 bp	11.3 bp −$11	16.7 bp −$167	doesn't fit	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
Backpack ENA_USDC_PERP	−0.0060%	1h	0.2096	+0.033%	$362K	$447K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0052%	4h	0.2094	−0.024%	$40K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2095	+0.010%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2095	0.000%	$101K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.356%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2097	+0.091%	$2.6M	$5.5M	50x	as long as short
Popdex ENAUSDTlong	+0.0096%	1h	0.2095	long leg	$61K	$531K	50x
Paradex ENA-USD-PERP	+0.0100%	8h	0.2095	+0.014%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2096	+0.064%	$660K	$1.8M	10x	as long as short
Aster ENAUSDTshort	+0.0100%	4h	0.2095	+0.019%	$1.5M	$3.3M	50x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2096	+0.062%	$405K	$578K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2095	+0.010%	$129.2M	$456.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2093	−0.076%	$87.1M	$191.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2094	−0.033%	$20.2M	$111.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2093	−0.110%	$15K	$401K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2097	+0.095%	$82K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2088	−0.310%	$88K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2095	+0.019%	$10.5M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2094	−0.029%	$45.8M	$46.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2096	+0.048%	$23.9M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2093	−0.105%	$47.3M	$64.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2094	−0.033%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2089	−0.273%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2093	−0.116%	$248K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2094	−0.048%	$354K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2094	−0.048%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2096	+0.043%	$179K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2045	−2.391%	$968	$815K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2095	0.000%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2098	+0.138%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2094	−0.048%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2095	+0.019%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2091	−0.172%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0128%	1h	0.2097	+0.115%	$4K	$432	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0238% / S −0.0406%	1h	0.2095	−0.002%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0328%	1h	0.2094	−0.058%	$1.6M	$4.1M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2095	0.000%	$5.5M	$8.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2094	−0.032%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0512%	1h	0.2098	+0.148%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2097	+0.119%	$806K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0579%	1h	0.2097	+0.119%	$110.7M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1963%	1h	0.2096	+0.026%	$138K	$15K	5x	as long as short