Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.036%

Price spread now: Aster against ApeX Omni−0.038%59s7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$640.643% of the position

Long on ApeX Omni Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.119%+$12 on $10k

Price spread, last 4 days (all we have)+0.131%+$13 · spread now −0.038%, 7d avg +0.018%

Together, before fees+0.250%+ Points / potential airdropAster: Stage 5 · farm board+$25 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.057% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.038% now, against its 7-day average of +0.018%). If the spread goes back, that is −$6 on $10k: about 3.6 days of funding at the current rate (+$2 a day). The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ENAUSDT	0.2112	0.0048	pay 0.0006% / 1h	42m 27s	$20K	$647K	50x
Short	Aster ENAUSDT	0.2111	0.0100	get 0.0050% / 4h	2h 42m	$1.4M	$3.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against ApeX Omni. 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 ApeX OmnibpFee AsterbpOrdersPrice spread, now −0.038%Rate

Funding earned: $10.97
Price spread: −0.038% → +0.018%: −$5.65
Slippage, 4 orders: −$46.34
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$59.03
Costs to cover: 0.643%
Break-even: 44.7 days

Slippage from ApeX Omni: live order book, 6 min ago; Aster: live order book, 1 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 ApeX Omni live order book, 6 min ago	11.87 bp	20.1 bp −$20	129.2 bp −$1,292	doesn't fit	doesn't fit
Sell Aster live order book, 1 min ago	1.89 bp	15.6 bp −$16	24.0 bp −$240	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
Orderly PERP_ENA_USDC	−0.0140%	4h	0.2110	−0.090%	$44K	$25K	10x	as long as short
Gate ENA_USDT	−0.0022%	4h	0.2109	−0.142%	$11.0M	$23.4M	50x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2111	−0.043%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2111	−0.047%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2111	−0.069%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.540%	$522	$57K	5.5x	as long as short
ApeX Omni ENAUSDTlong	+0.0048%	1h	0.2112	long leg	$20K	$647K	50x
Popdex ENAUSDT	+0.0096%	1h	0.2110	−0.095%	$56K	$466K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2109	−0.157%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2110	−0.097%	$654K	$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
Hyperliquid ENA	+0.0100%	1h	0.2116	+0.175%	$114.7M	$74.4M	10x	as long as short
Aster ENAUSDTshort	+0.0100%	4h	0.2111	−0.038%	$1.4M	$3.2M	50x
Pacifica ENA	+0.0100%	1h	0.2111	−0.063%	$397K	$522K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2110	−0.082%	$127.9M	$416.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2110	−0.114%	$85.4M	$175.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2111	−0.057%	$21.1M	$103.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2111	−0.052%	$22K	$322K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2110	−0.095%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2112	0.000%	$93K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2109	−0.137%	$45.5M	$40.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2116	+0.180%	$25.0M	$15.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2109	−0.147%	$48.0M	$57.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2109	−0.128%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2108	−0.186%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2106	−0.279%	$241K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2110	−0.094%	$349K	$4.9M	10x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2110	−0.080%	$189K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2059	−2.509%	$1K	$868K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2112	0.000%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2112	−0.024%	$275K	$777K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2111	−0.047%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2109	−0.153%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2111	−0.062%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2109	−0.152%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0163%	1h	0.2112	+0.013%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0200%	1h	0.2114	+0.095%	$5.2M	$13.0M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2110	−0.075%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2110	−0.104%	$5.5M	$3.0M	75x	as long as short
dYdX ENA-USD	+0.0385%	1h	0.2112	+0.017%	$140K	$15K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2110	−0.099%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0584%	1h	0.2112	+0.024%	$358K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2100	−0.568%	$860K	$1.7M	50x	as long as short