Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: OKX against ApeX Omni−0.357%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$650.654% of the position

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.059%−$6 on $10k

Price spread, last 4 days (all we have)+0.387%+$39 · spread now −0.357%, 7d avg −0.041%

Together, before fees+0.327%+$33 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: OKX is 0.316% cheaper against ApeX Omni than usual: you would sell low and buy high, −$32 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ENAUSDT	0.2102	0.0100	pay 0.0013% / 1h	11m 16s	$19K	$650K	50x
Short	OKX ENA-USDT-SWAP	0.2094	0.0100	get 0.0050% / 4h	11m 16s	$20.5M	$95.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.357%Rate

Funding earned: $0
Price spread: −0.357% → −0.041%: −$31.61
Slippage, 4 orders: −$45.41
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$97.02
Costs to cover: 0.654%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 30 min ago; OKX: live order book, 6 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, 30 min ago	9.48 bp	19.4 bp −$19	130.2 bp −$1,302	doesn't fit	doesn't fit
Sell OKX live order book, 6 min ago	0.24 bp	11.8 bp −$12	22.5 bp −$225	85.0 bp −$8,503	doesn't fit

ENA on 42 exchanges

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	−0.0148%	4h	0.2093	−0.414%	$43K	$16K	10x	as long as short
Kraken Futures PF_ENAUSD	−0.0099%	1h	0.2096	−0.290%	$2.6M	$3.0M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2095	−0.338%	$65K	$1.0M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2095	−0.315%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	+0.947%	$734	$57K	5.5x	as long as short
Phoenix ENA	+0.0038%	1h	0.2102	−0.014%	$13K	$290K	10x	as long as short
01 Exchange ENAUSD	+0.0072%	1h	0.2097	−0.247%	$4K	—	10x	as long as short
Bitget ENAUSDT	+0.0080%	4h	0.2093	−0.428%	$47.4M	$52.9M	75x	as long as short
Lighter ENA	+0.0096%	1h	0.2098	−0.205%	$5.0M	$12.2M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2095	−0.333%	$52K	$389K	50x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0100%	8h	0.2095	−0.311%	$47K	—	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2096	−0.276%	$544K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2097	−0.214%	$111.9M	$74.3M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2096	−0.294%	$1.2M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2097	−0.257%	$381K	$481K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2095	−0.338%	$124.2M	$395.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2095	−0.352%	$84.2M	$180.9M	50x	as long as short
OKX ENA-USDT-SWAPshort	+0.0100%	4h	0.2094	−0.357%	$20.5M	$95.4M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2100	−0.105%	$37K	$295K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2097	−0.238%	$78K	$213K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2099	−0.130%	$103K	$11K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2096	−0.304%	$14.4M	$27.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2095	−0.324%	$43.6M	$40.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2097	−0.233%	$24.7M	$14.1M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2095	−0.328%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2099	−0.147%	$405K	$449K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2099	−0.159%	$2.8M	$7.6M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2099	−0.149%	$240K	$6.4M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2099	−0.143%	$357K	$4.1M	10x	as long as short
ApeX Omni ENAUSDTlong	+0.0100%	1h	0.2102	long leg	$19K	$650K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2095	−0.309%	$121K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2045	−2.693%	$1K	$934K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2095	−0.333%	$6K	$5K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2105	+0.133%	$271K	$741K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2098	−0.190%	$1.7M	$9.2M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2095	−0.347%	$1.6M	$4.5M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2101	−0.069%	$74K	$4K	3x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2100	−0.100%	$5.5M	$3.3M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2094	−0.361%	$1K	—	15x	as long as short
dYdX ENA-USD	+0.0491%	1h	0.2099	−0.156%	$139K	$17K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0520%	1h	0.2099	−0.167%	$766K	$1.7M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0522% / S −0.0754%	1h	0.2095	−0.326%	$58K	—	100x	as long as short