Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Bybit against SunX+2.524%7-day average +2.327% · you sell dearer than you buy

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

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.067%−$7 on $10k

Price spread, last 4 days (all we have)−0.616%−$62 · spread now +2.524%, 7d avg +2.327%

Together, before fees−0.683%−$68 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: Bybit is 0.197% dearer against SunX than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of +2.327%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ENA-USDT	0.2064	0.0100	pay 0.0050% / 4h	3h 53m	$1K	$852K	20x
Short	Bybit ENAUSDT	0.2116	0.0100	get 0.0050% / 4h	3h 53m	$85.5M	$175.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. 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 SunXbpFee BybitbpOrdersPrice spread, now +2.524%Rate

Funding earned: $0
Price spread: +2.524% → +2.327%: $19.68
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $0.68
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: SunX: live order book, 29 min ago; Bybit: live order book, 1 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 SunX live order book, 29 min ago	260.28 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.24 bp	9.2 bp −$9	16.1 bp −$161	61.1 bp −$6,113	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	−0.0215%	1h	0.2118	+2.621%	$362K	$401K	5x	as long as short
Phemex ENAUSDT	−0.0135%	4h	0.2118	+2.606%	$1.8M	$8.9M	50x	as long as short
Orderly PERP_ENA_USDC	−0.0085%	4h	0.2116	+2.529%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2117	+2.577%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2116	+2.526%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+2.868%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0063%	1h	0.2113	+2.387%	$140K	$15K	5x	as long as short
01 Exchange ENAUSD	+0.0064%	1h	0.2114	+2.427%	$4K	$302	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2114	+2.413%	$56K	$464K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2114	+2.408%	$47K	$110	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2115	+2.439%	$657K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2115	+2.482%	$1.5M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2115	+2.440%	$403K	$511K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2117	+2.573%	$128.8M	$415.3M	75x	as long as short
Bybit ENAUSDTshort	+0.0100%	4h	0.2116	+2.524%	$85.5M	$175.1M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2117	+2.563%	$21.1M	$104.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2111	+2.272%	$20K	$319K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2115	+2.461%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2115	+2.478%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2116	+2.500%	$11.1M	$22.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2117	+2.572%	$46.1M	$40.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2118	+2.616%	$25.0M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2116	+2.500%	$48.0M	$57.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2117	+2.543%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2108	+2.111%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2109	+2.188%	$243K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2111	+2.254%	$352K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2112	+2.316%	$20K	$649K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2116	+2.509%	$178K	$2.3M	10x	as long as short
SunX ENA-USDTlong	+0.0100%	4h	0.2064	long leg	$1K	$852K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2117	+2.558%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2119	+2.645%	$274K	$793K	50x	as long as short
Lighter ENA	+0.0104%	1h	0.2120	+2.694%	$5.2M	$13.2M	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2117	+2.549%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2117	+2.582%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2109	+2.180%	$8K	$274K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0172%	1h	0.2119	+2.659%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2117	+2.536%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2114	+2.427%	$5.6M	$3.0M	75x	as long as short
Hyperliquid ENA	+0.0389%	1h	0.2119	+2.631%	$115.5M	$74.0M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2115	+2.456%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2120	+2.698%	$866K	$1.7M	50x	as long as short