Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Popdex against SunX+2.469%7-day average +2.370% · you sell dearer than you buy

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

Long on SunX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.007%−$1 on $10k

Price spread, last 3 days (all we have)−0.246%−$25 · spread now +2.469%, 7d avg +2.370%

Together, before fees−0.253%−$25 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: Popdex is 0.099% dearer against SunX than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +2.370%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ENA-USDT	0.2074	0.0100	pay 0.0050% / 4h	3h 30m	$938	$828K	20x
Short	Popdex ENAUSDT	0.2125	0.0096	get 0.0012% / 1h	30m 36s	$62K	$520K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +2.469%Rate

Funding earned: −$0.84
Price spread: +2.469% → +2.370%: $9.88
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$5.36
Costs to cover: 0.144%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 21 min ago; Popdex: live order book, 43 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, 21 min ago	330.91 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Popdex live order book, 43 min ago	4.94 bp	14.8 bp −$15	96.0 bp −$960	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2124	+2.411%	$81K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2124	+2.415%	$97K	—	150x	as long as short
Backpack ENA_USDC_PERP	+0.0015%	1h	0.2125	+2.493%	$378K	$415K	5x	as long as short
dYdX ENA-USD	+0.0026%	1h	0.2127	+2.586%	$141K	$15K	5x	as long as short
Orderly PERP_ENA_USDC	+0.0029%	4h	0.2123	+2.392%	$41K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+2.392%	$522	$57K	5.5x	as long as short
Popdex ENAUSDTshort	+0.0096%	1h	0.2125	+2.469%	$62K	$520K	50x
Nado ENA-PERP	+0.0100%	1h	0.2127	+2.546%	$676K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2129	+2.638%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2128	+2.616%	$412K	$552K	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	0.2126	+2.530%	$131.9M	$443.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2126	+2.517%	$89.5M	$185.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2126	+2.532%	$20.8M	$109.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2124	+2.440%	$15K	$400K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2128	+2.614%	$105K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	+2.059%	$89K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2128	+2.628%	$10.8M	$20.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2128	+2.609%	$46.1M	$44.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2129	+2.662%	$24.5M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2125	+2.469%	$48.2M	$61.4M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2128	+2.633%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2123	+2.388%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2113	+1.909%	$246K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2113	+1.879%	$356K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2116	+2.035%	$34K	$687K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2126	+2.532%	$178K	$2.4M	10x	as long as short
SunX ENA-USDTlong	+0.0100%	4h	0.2074	long leg	$938	$828K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2124	+2.421%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2125	+2.474%	$276K	$1.2M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2124	+2.421%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2129	+2.684%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2124	+2.406%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2116	+2.025%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0224%	1h	0.2126	+2.512%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0235%	1h	0.2125	+2.460%	$2.7M	$5.1M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2124	+2.403%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0280%	1h	0.2128	+2.606%	$1.6M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2123	+2.372%	$5.6M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2125	+2.465%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2125	+2.464%	$839K	$1.8M	50x	as long as short
Lighter ENA	+0.0672%	1h	0.2129	+2.652%	$5.6M	$12.6M	10x	as long as short
Hyperliquid ENA	+0.0727%	1h	0.2132	+2.802%	$115.0M	$75.4M	10x	as long as short