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% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Ondo Perps against ApeX Omni+0.410%52s7-day average −0.010% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on ApeX Omni Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%−$1 on $10k

Price spread, last 4 days (all we have)−0.385%−$38 · spread now +0.410%, 7d avg −0.010%

Together, before fees−0.390%+ Points / potential airdropOndo Perps: Active · farm board−$39 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: Ondo Perps is 0.420% dearer against ApeX Omni than usual: you sell high and buy low, +$42 on $10k if it goes back to its 7-day average of −0.010%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ENAUSDT	0.2170	0.0100	pay 0.0013% / 1h	58m 18s	$20K	$651K	50x
Short	Ondo Perps ENA-USD.P	0.2179	0.0100	get 0.0013% / 1h	58m 18s	$21K	$328K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now +0.410%Rate

Funding earned: $0
Price spread: +0.410% → −0.010%: $41.98
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $26.98
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: ApeX Omni: live order book, 50 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 50 min ago	11.87 bp	20.1 bp −$20	129.2 bp −$1,292	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.2179	+0.433%	$45K	$26K	10x	as long as short
dYdX ENA-USD	0.0000%	1h	0.2182	+0.543%	$144K	$16K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2181	+0.493%	$68K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0005%	1h	0.2181	+0.522%	$101K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2182	+0.553%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−2.147%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2181	+0.507%	$58K	$477K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2183	+0.582%	$579K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2183	+0.585%	$118.4M	$76.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2182	+0.551%	$1.5M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2184	+0.641%	$410K	$532K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2181	+0.525%	$132.0M	$427.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2181	+0.521%	$87.7M	$180.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2181	+0.512%	$21.8M	$110.3M	50x	as long as short
Ondo Perps ENA-USD.Pshort	+0.0100%	1h	0.2179	+0.410%	$21K	$328K	5x
Arcus ENA-USD	+0.0100%	1h	0.2181	+0.507%	$81K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2172	+0.089%	$95K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2180	+0.479%	$12.2M	$25.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2182	+0.567%	$48.8M	$41.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2183	+0.590%	$25.4M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2181	+0.498%	$49.6M	$59.3M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2181	+0.521%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2168	−0.071%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2170	−0.007%	$255K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2170	−0.015%	$363K	$5.0M	10x	as long as short
ApeX Omni ENAUSDTlong	+0.0100%	1h	0.2170	long leg	$20K	$651K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2182	+0.562%	$177K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2129	−1.885%	$1K	$893K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2182	+0.553%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2183	+0.613%	$273K	$806K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2183	+0.599%	$1.8M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2182	+0.574%	$49K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2181	+0.522%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2181	+0.489%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2175	+0.240%	$8K	$259K	10x	as long as short
Lighter ENA	+0.0224%	1h	0.2185	+0.700%	$5.2M	$13.2M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0310% / S −0.0753%	1h	0.2182	+0.547%	$60K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2172	+0.078%	$5.7M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2181	+0.508%	$1K	$5K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0432%	1h	0.2182	+0.573%	$2.7M	$4.3M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2189	+0.871%	$900K	$1.8M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0846%	1h	0.2174	+0.203%	$398K	$423K	5x	as long as short