Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0312%/8h= +34.1% APRpaid last 24h +0.093%

Price spread now: Reya against SunX+2.417%7-day average — · you sell dearer than you buy

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

Long on SunX Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Reya is 2.417% dearer against SunX than usual: you sell high and buy low: +$242 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ENA-USDT	0.2065	0.0100	pay 0.0050% / 4h	16m 01s	$1K	$848K	20x
Short	Reya ENARUSDPERP	0.2115	0.0412	get 0.0051% / 1h	16m 01s	$1K	$5K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +2.417%Rate

Funding earned: $65.46
Price spread: +2.417% → 0.000%: $241.68
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: $293.14
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: SunX: live order book, 6 min ago; Reya: no order-book sample. 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, 6 min ago	260.28 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0147%	1h	0.2116	+2.470%	$363K	$398K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0071%	4h	0.2115	+2.455%	$44K	$25K	10x	as long as short
01 Exchange ENAUSD	−0.0056%	1h	0.2116	+2.499%	$4K	$302	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2116	+2.485%	$79K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2115	+2.429%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+2.838%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2119	+2.625%	$8K	$266K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2115	+2.431%	$56K	$475K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2114	+2.406%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2115	+2.417%	$658K	$1.7M	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	0.2116	+2.471%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2116	+2.470%	$404K	$517K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2114	+2.378%	$128.8M	$416.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2112	+2.310%	$85.2M	$175.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2114	+2.368%	$20.9M	$103.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2117	+2.552%	$18K	$317K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2117	+2.528%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	+2.504%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2114	+2.388%	$11.1M	$22.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2113	+2.339%	$46.0M	$41.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2114	+2.407%	$24.6M	$15.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2111	+2.223%	$48.0M	$57.5M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2113	+2.354%	—	$32.3M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2115	+2.411%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2117	+2.550%	$245K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	+2.538%	$350K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2119	+2.625%	$20K	$649K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2116	+2.475%	$180K	$2.3M	10x	as long as short
SunX ENA-USDTlong	+0.0100%	4h	0.2065	long leg	$1K	$848K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2116	+2.480%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2118	+2.567%	$274K	$796K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2116	+2.480%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2112	+2.285%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2117	+2.510%	$74K	$4K	3x	as long as short
Hyperliquid ENA	+0.0112%	1h	0.2117	+2.528%	$115.3M	$75.1M	10x	as long as short
dYdX ENA-USD	+0.0140%	1h	0.2115	+2.446%	$140K	$15K	5x	as long as short
Lighter ENA	+0.0152%	1h	0.2118	+2.581%	$5.2M	$13.5M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0242%	1h	0.2117	+2.530%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2115	+2.454%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2117	+2.547%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERPshort	+0.0412%	1h	0.2115	+2.417%	$1K	$5K	15x
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2127	+3.008%	$869K	$1.7M	50x	as long as short