Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: GRVT against ApeX Omni+0.050%7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$800.799% of the position

Long on ApeX Omni Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now +0.050%, 7d avg −0.017%

Together, before fees−0.028%+ Points / potential airdropGRVT: Active · farm board−$3 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: GRVT is 0.067% dearer against ApeX Omni than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ENAUSDT	0.2101	0.0100	pay 0.0013% / 1h	37m 32s	$20K	$648K	50x
Short	GRVT ENA_USDT_Perp	0.2102	0.0100	get 0.0050% / 4h	2h 37m	$357K	$4.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.050%Rate

Funding earned: $0
Price spread: +0.050% → −0.017%: $6.74
Slippage, 4 orders: −$60.91
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$73.18
Costs to cover: 0.799%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 11 min ago; GRVT: live order book, 2 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, 11 min ago	11.87 bp	20.1 bp −$20	129.2 bp −$1,292	doesn't fit	doesn't fit
Sell GRVT live order book, 2 min ago	4.75 bp	19.4 bp −$19	85.5 bp −$855	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	−0.0142%	4h	0.2110	+0.433%	$44K	$25K	10x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2119	+0.861%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2111	+0.476%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2111	+0.453%	$82K	—	150x	as long as short
Gate ENA_USDT	+0.0016%	4h	0.2118	+0.800%	$11.1M	$23.5M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.066%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2118	+0.809%	$57K	$467K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2119	+0.844%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2116	+0.735%	$656K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2120	+0.909%	$115.1M	$74.2M	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	0.2118	+0.824%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2119	+0.870%	$398K	$525K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2118	+0.824%	$128.3M	$417.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2118	+0.814%	$85.7M	$175.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2118	+0.790%	$21.2M	$104.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2104	+0.148%	$20K	$321K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2119	+0.857%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2112	+0.524%	$93K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2119	+0.833%	$46.7M	$40.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2119	+0.871%	$25.0M	$15.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2117	+0.781%	$48.1M	$57.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2118	+0.823%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2100	−0.038%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2100	−0.038%	$241K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perpshort	+0.0100%	4h	0.2102	+0.050%	$357K	$4.9M	10x
ApeX Omni ENAUSDTlong	+0.0100%	1h	0.2101	long leg	$20K	$648K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2111	+0.485%	$189K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2061	−1.909%	$922	$869K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2111	+0.476%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	+0.743%	$267K	$798K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2111	+0.476%	$1.8M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2118	+0.792%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2111	+0.462%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2111	+0.462%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0163%	1h	0.2112	+0.545%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0192%	1h	0.2121	+0.966%	$5.2M	$13.0M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0358%	1h	0.2110	+0.437%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2102	+0.029%	$5.5M	$3.0M	75x	as long as short
dYdX ENA-USD	+0.0359%	1h	0.2117	+0.775%	$140K	$15K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2110	+0.440%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0566%	1h	0.2114	+0.614%	$358K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2111	+0.495%	$864K	$1.7M	50x	as long as short