Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Bybit against ApeX Omni+0.313%7-day average −0.099% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$500.503% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.070%−$7 on $10k

Price spread, last 4 days (all we have)−0.295%−$30 · spread now +0.313%, 7d avg −0.099%

Together, before fees−0.365%−$37 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: Bybit is 0.412% dearer against ApeX Omni than usual: you sell high and buy low, +$41 on $10k if it goes back to its 7-day average of −0.099%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ENAUSDT	0.2108	0.0100	pay 0.0013% / 1h	3m 13s	$20K	$650K	50x
Short	Bybit ENAUSDT	0.2115	0.0100	get 0.0050% / 4h	3m 13s	$85.4M	$175.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.313%Rate

Funding earned: $0
Price spread: +0.313% → −0.099%: $41.18
Slippage, 4 orders: −$29.27
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$9.09
Costs to cover: 0.503%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 55 min ago; Bybit: 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, 55 min ago	7.12 bp	15.6 bp −$16	133.2 bp −$1,332	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.24 bp	10.4 bp −$10	18.5 bp −$185	64.9 bp −$6,489	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
Backpack ENA_USDC_PERP	−0.0135%	1h	0.2110	+0.119%	$361K	$401K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0081%	4h	0.2114	+0.294%	$44K	$25K	10x	as long as short
01 Exchange ENAUSD	−0.0024%	1h	0.2115	+0.346%	$4K	$302	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2116	+0.361%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2115	+0.352%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.731%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2110	+0.100%	$8K	$266K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2114	+0.285%	$56K	$475K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2113	+0.249%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2114	+0.308%	$659K	$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	0.2115	+0.353%	$1.5M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2114	+0.278%	$403K	$521K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2116	+0.356%	$128.6M	$416.1M	75x	as long as short
Bybit ENAUSDTshort	+0.0100%	4h	0.2115	+0.313%	$85.4M	$175.1M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2115	+0.337%	$21.1M	$103.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2105	−0.128%	$20K	$323K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2115	+0.332%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	−0.071%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2115	+0.327%	$11.1M	$22.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2115	+0.337%	$46.1M	$41.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2116	+0.384%	$25.0M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2114	+0.285%	$48.0M	$57.6M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2115	+0.346%	—	$32.3M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2105	−0.153%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2107	−0.056%	$243K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2108	+0.009%	$358K	$5.0M	10x	as long as short
ApeX Omni ENAUSDTlong	+0.0100%	1h	0.2108	long leg	$20K	$650K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2117	+0.427%	$178K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2064	−2.102%	$910	$850K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2115	+0.332%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	+0.432%	$274K	$794K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2115	+0.332%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2114	+0.285%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2115	+0.333%	$74K	$4K	3x	as long as short
dYdX ENA-USD	+0.0159%	1h	0.2112	+0.204%	$140K	$15K	5x	as long as short
Lighter ENA	+0.0176%	1h	0.2117	+0.441%	$5.2M	$13.5M	10x	as long as short
Hyperliquid ENA	+0.0204%	1h	0.2119	+0.522%	$115.4M	$74.8M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0242%	1h	0.2117	+0.417%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2116	+0.364%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2115	+0.356%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2116	+0.356%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2119	+0.522%	$866K	$1.7M	50x	as long as short