Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0191%/8h= +21.0% APRpaid last 24h +0.644%

Price spread now: dYdX against SunX+2.472%7-day average +2.361% · you sell dearer than you buy

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

Long on SunX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.059%+$106 on $10k

Price spread, last 4 days (all we have)−0.296%−$30 · spread now +2.472%, 7d avg +2.361%

Together, before fees+0.763%+$76 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and dYdX is 0.112% dearer against SunX than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +2.361%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ENA-USDT	0.2067	0.0100	pay 0.0050% / 4h	2h 29m	$1K	$871K	20x
Short	dYdX ENA-USD	0.2118	0.0291	get 0.0036% / 1h	29m 07s	$140K	$16K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +2.472%Rate

Funding earned: $40.19
Price spread: +2.472% → +2.361%: $11.18
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: $33.37
Costs to cover: 0.180%
Break-even: 1.2 days

Slippage unknown: SunX: live order book, 43 min ago; dYdX: live order book, 20 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, 43 min ago	258.76 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 20 min ago	145.57 bp	322.7 bp −$323	626.1 bp −$6,261	1159.1 bp −$115.9K	1803.7 bp −$901.9K

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	−0.0145%	4h	0.2116	+2.385%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2117	+2.410%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2117	+2.453%	$82K	—	150x	as long as short
Gate ENA_USDT	+0.0006%	4h	0.2117	+2.434%	$11.1M	$23.7M	50x	as long as short
01 Exchange ENAUSD	+0.0024%	1h	0.2120	+2.584%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+2.739%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2118	+2.477%	$58K	$467K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2115	+2.315%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2118	+2.499%	$656K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2120	+2.560%	$115.1M	$74.3M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2115	+2.349%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2115	+2.336%	$397K	$525K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2115	+2.331%	$128.2M	$417.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2113	+2.250%	$85.4M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2114	+2.293%	$21.2M	$104.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2117	+2.419%	$20K	$323K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2119	+2.526%	$79K	$276K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2114	+2.293%	$46.8M	$41.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2118	+2.472%	$24.7M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2114	+2.298%	$48.0M	$57.9M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2114	+2.264%	—	$31.3M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2111	+2.140%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2113	+2.242%	$242K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2112	+2.184%	$350K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2114	+2.284%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2119	+2.511%	$189K	$2.4M	10x	as long as short
SunX ENA-USDTlong	+0.0100%	4h	0.2067	long leg	$1K	$871K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2115	+2.332%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	+2.429%	$267K	$795K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2114	+2.284%	$1.8M	$8.9M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2118	+2.477%	$93K	−$0	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2116	+2.375%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2117	+2.414%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2115	+2.342%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0162%	1h	0.2116	+2.391%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0200%	1h	0.2116	+2.395%	$5.2M	$13.0M	10x	as long as short
dYdX ENA-USDshort	+0.0291%	1h	0.2118	+2.472%	$140K	$16K	5x
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0358%	1h	0.2117	+2.442%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2115	+2.313%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2118	+2.461%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0597%	1h	0.2114	+2.308%	$358K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2123	+2.724%	$869K	$1.7M	50x	as long as short