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% APRpaid last 24h 0.000%

Price spread now: Binance against ApeX Omni−0.165%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$560.558% of the position

Long on ApeX Omni Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 4 days (all we have)−0.184%−$18 · spread now −0.165%, 7d avg −0.044%

Together, before fees−0.203%−$20 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: Binance is 0.121% cheaper against ApeX Omni than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ENAUSDT	0.2119	0.0100	pay 0.0013% / 1h	45m 14s	$19K	$648K	50x
Short	Binance ENAUSDT	0.2115	0.0100	get 0.0050% / 4h	45m 14s	$128.4M	$425.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.165%Rate

Funding earned: $0
Price spread: −0.165% → −0.044%: −$12.12
Slippage, 4 orders: −$35.83
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$67.96
Costs to cover: 0.558%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 58 min ago; Binance: live order book, 13 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, 58 min ago	7.01 bp	20.1 bp −$20	133.8 bp −$1,338	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	0.24 bp	7.8 bp −$8	16.3 bp −$163	47.2 bp −$4,715	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	−0.0100%	4h	0.2115	−0.208%	$44K	$26K	10x	as long as short
01 Exchange ENAUSD	−0.0032%	1h	0.2117	−0.099%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2116	−0.151%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2116	−0.151%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.208%	$522	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2118	−0.057%	$5.0M	$13.8M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2116	−0.142%	$55K	$480K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2117	−0.097%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2115	−0.170%	$560K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2118	−0.066%	$114.8M	$75.0M	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	0.2117	−0.104%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2116	−0.127%	$406K	$560K	10x	as long as short
Binance ENAUSDTshort	+0.0100%	4h	0.2115	−0.165%	$128.4M	$425.1M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2114	−0.231%	$90.4M	$186.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2115	−0.170%	$21.1M	$107.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2122	+0.118%	$33K	$314K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2118	−0.047%	$78K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	−0.289%	$92K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2116	−0.132%	$12.7M	$26.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2115	−0.193%	$38.4M	$42.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2116	−0.142%	$24.8M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2113	−0.288%	$47.9M	$59.5M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2115	−0.179%	—	$31.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2117	−0.118%	$420K	$483K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2121	+0.106%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2123	+0.178%	$257K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2122	+0.142%	$366K	$4.9M	10x	as long as short
ApeX Omni ENAUSDTlong	+0.0100%	1h	0.2119	long leg	$19K	$648K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2116	−0.142%	$183K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2065	−2.534%	$1K	$903K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2115	−0.189%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2122	+0.165%	$267K	$817K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2115	−0.189%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2114	−0.233%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2115	−0.165%	$74K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0148%	1h	0.2116	−0.142%	$2.6M	$4.4M	50x	as long as short
Phoenix ENA	+0.0190%	1h	0.2119	+0.014%	$8K	$273K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0754%	1h	0.2116	−0.129%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2115	−0.208%	$5.5M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2115	−0.190%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2128	+0.415%	$878K	$1.8M	50x	as long as short
dYdX ENA-USD	+0.0828%	1h	0.2119	−0.008%	$140K	$16K	5x	as long as short