Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.066%

Price spread now: BloFin against ApeX Omni−0.038%7-day average +0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$610.615% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.426%+$43 on $10k

Price spread, last 3 days (all we have)+0.493%+$49 · spread now −0.038%, 7d avg +0.048%

Together, before fees+0.919%+$92 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.086% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.038% now, against its 7-day average of +0.048%). If the spread goes back, that is −$9 on $10k: about 29 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ENAUSDT	0.2128	0.0100	pay 0.0013% / 1h	1m 14s	$34K	$713K	50x
Short	BloFin ENA-USDT	0.2127	0.0340	get 0.0170% / 4h	1m 14s	$5.6M	$4.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.038%Rate

Funding earned: $50.4
Price spread: −0.038% → +0.048%: −$8.58
Slippage, 4 orders: −$39.48
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$19.66
Costs to cover: 0.615%
Break-even: 9.7 days

Slippage from ApeX Omni: live order book, 12 min ago; BloFin: live order book, 7 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, 12 min ago	9.40 bp	22.0 bp −$22	137.5 bp −$1,375	doesn't fit	doesn't fit
Sell BloFin live order book, 7 min ago	0.23 bp	10.8 bp −$11	20.1 bp −$201	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	0.2128	0.000%	$95K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2126	−0.089%	$97K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0012%	4h	0.2127	−0.038%	$41K	$24K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.216%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0055%	1h	0.2128	+0.005%	$379K	$445K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2125	−0.141%	$63K	$527K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2126	−0.085%	$682K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2127	−0.036%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2126	−0.087%	$411K	$559K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2126	−0.075%	$131.8M	$449.6M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2127	−0.042%	$89.4M	$189.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2128	−0.019%	$20.7M	$110.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2127	−0.070%	$15K	$395K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2126	−0.094%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2126	−0.098%	$90K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2126	−0.089%	$10.8M	$21.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2126	−0.094%	$46.4M	$45.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2126	−0.099%	$24.6M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2127	−0.070%	$48.3M	$63.5M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2126	−0.080%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2124	−0.171%	$3.9M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2128	−0.006%	$246K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2123	−0.229%	$360K	$4.7M	10x	as long as short
ApeX Omni ENAUSDTlong	+0.0100%	1h	0.2128	long leg	$34K	$713K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2127	−0.056%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2076	−2.448%	$1K	$829K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2128	0.000%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.052%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2127	−0.047%	$1.9M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2125	−0.136%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2127	−0.023%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2129	+0.038%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0208%	1h	0.2127	−0.056%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2130	+0.077%	$2.7M	$5.2M	50x	as long as short
Extended ENA-USD	+0.0240%	1h	0.2127	−0.031%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2126	−0.076%	$38K	—	100x	as long as short
BloFin ENA-USDTshort	+0.0340%	4h	0.2127	−0.038%	$5.6M	$4.7M	75x
Reya ENARUSDPERP	+0.0412%	1h	0.2126	−0.106%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2132	+0.207%	$842K	$1.9M	50x	as long as short
Lighter ENA	+0.0560%	1h	0.2128	+0.005%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0744%	1h	0.2130	+0.075%	$114.8M	$78.3M	10x	as long as short
dYdX ENA-USD	+0.1059%	1h	0.2128	−0.007%	$141K	$15K	5x	as long as short