Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: MEXC against ApeX Omni−0.028%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$470.471% of the position

Long on ApeX Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$2 on $10k

Price spread, last 4 days (all we have)−0.279%−$28 · spread now −0.028%, 7d avg −0.059%

Together, before fees−0.303%−$30 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: MEXC is 0.030% dearer against ApeX Omni than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ENAUSDT	0.2132	0.0100	pay 0.0013% / 1h	22m 59s	$32K	$656K	50x
Short	MEXC ENA_USDT	0.2131	0.0100	get 0.0050% / 4h	2h 22m	$45.3M	$44.4M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.028%Rate

Funding earned: $0
Price spread: −0.028% → −0.059%: $3.05
Slippage, 4 orders: −$37.07
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$44.02
Costs to cover: 0.471%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 45 min ago; MEXC: 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, 45 min ago	11.52 bp	20.7 bp −$21	140.9 bp −$1,409	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.23 bp	1.9 bp −$2	5.9 bp −$59	38.2 bp −$3,819	69.4 bp −$34.7K

ENA on 41 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	−0.169%	$79K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2129	−0.157%	$91K	—	150x	as long as short
dYdX ENA-USD	+0.0014%	1h	0.2134	+0.103%	$141K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.403%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0037%	4h	0.2128	−0.183%	$44K	$28K	10x	as long as short
01 Exchange ENAUSD	+0.0096%	1h	0.2132	+0.019%	$4K	$302	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2130	−0.094%	$55K	$519K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2130	−0.110%	$687K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2130	−0.094%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2134	+0.082%	$418K	$544K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2132	+0.017%	$131.9M	$445.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2132	+0.005%	$87.5M	$187.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2130	−0.070%	$20.9M	$108.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2135	+0.155%	$19K	$413K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2132	0.000%	$79K	$288K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2135	+0.117%	$94K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2130	−0.070%	$11.0M	$21.5M	50x	as long as short
MEXC ENA_USDTshort	+0.0100%	4h	0.2131	−0.028%	$45.3M	$44.4M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2133	+0.028%	$24.7M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2130	−0.075%	$48.5M	$61.0M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2131	−0.038%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2130	−0.080%	$381K	$391K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2134	+0.075%	$3.8M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2145	+0.588%	$247K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2132	+0.008%	$354K	$4.8M	10x	as long as short
ApeX Omni ENAUSDTlong	+0.0100%	1h	0.2132	long leg	$32K	$656K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2130	−0.103%	$183K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2082	−2.364%	$1K	$854K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2129	−0.141%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2135	+0.131%	$275K	$871K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2131	−0.047%	$1.9M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2131	−0.053%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2129	−0.164%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2138	+0.267%	$7K	$351K	10x	as long as short
Extended ENA-USD	+0.0240%	1h	0.2131	−0.029%	$1.6M	$4.1M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0250%	1h	0.2130	−0.080%	$2.7M	$4.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2129	−0.150%	$51K	—	100x	as long as short
Lighter ENA	+0.0400%	1h	0.2135	+0.136%	$5.5M	$13.7M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2129	−0.152%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0511%	1h	0.2135	+0.127%	$115.3M	$72.5M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2142	+0.450%	$839K	$1.7M	50x	as long as short