Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Polymarket Perps against ApeX Omni+0.071%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$570.566% of the position

Long on ApeX Omni Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.241%−$24 on $10k

Price spread, last 3 days (all we have)+0.200%+$20 · spread now +0.071%, 7d avg +0.007%

Together, before fees−0.041%−$4 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: Polymarket Perps is 0.064% dearer against ApeX Omni than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ENAUSDT	0.2117	0.0100	pay 0.0013% / 1h	39m 12s	$34K	$710K	50x
Short	Polymarket Perps ENA-USD	0.2119	0.0100	get 0.0013% / 1h	39m 12s	$179K	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket 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 Polymarket PerpsbpOrdersPrice spread, now +0.071%Rate

Funding earned: $0
Price spread: +0.071% → +0.007%: $6.41
Slippage, 4 orders: −$38.6
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$50.18
Costs to cover: 0.566%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 35 min ago; Polymarket Perps: live order book, 5 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, 35 min ago	9.40 bp	22.0 bp −$22	137.5 bp −$1,375	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	3.30 bp	7.3 bp −$7	7.6 bp −$76	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
Backpack ENA_USDC_PERP	−0.0014%	1h	0.2117	+0.019%	$377K	$417K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2118	+0.043%	$91K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2118	+0.042%	$97K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0023%	4h	0.2118	+0.028%	$41K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.302%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0038%	1h	0.2117	+0.004%	$140K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2117	0.000%	$62K	$524K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2118	+0.043%	$672K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2117	+0.020%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2118	+0.038%	$410K	$552K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2117	+0.014%	$131.3M	$446.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2117	+0.005%	$89.0M	$186.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2117	+0.024%	$20.7M	$109.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2119	+0.071%	$15K	$399K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2118	+0.047%	$84K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	−0.189%	$89K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2117	+0.005%	$10.8M	$20.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2118	+0.047%	$46.3M	$44.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2119	+0.094%	$24.4M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2116	−0.057%	$48.0M	$61.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2117	+0.024%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2118	+0.048%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2117	+0.016%	$247K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2121	+0.167%	$355K	$4.7M	10x	as long as short
ApeX Omni ENAUSDTlong	+0.0100%	1h	0.2117	long leg	$34K	$710K	50x
Polymarket Perps ENA-USDshort	+0.0100%	1h	0.2119	+0.071%	$179K	$2.4M	10x
SunX ENA-USDT	+0.0100%	4h	0.2069	−2.277%	$992	$829K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2117	0.000%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2123	+0.279%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2117	0.000%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2117	+0.013%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2118	+0.033%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2119	+0.085%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0216%	1h	0.2119	+0.090%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0236%	1h	0.2119	+0.098%	$2.7M	$5.1M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2117	−0.014%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0272%	1h	0.2116	−0.037%	$1.6M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2119	+0.076%	$5.6M	$3.8M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2118	+0.037%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0600%	1h	0.2120	+0.137%	$5.6M	$12.5M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2120	+0.132%	$837K	$1.9M	50x	as long as short
Hyperliquid ENA	+0.0683%	1h	0.2122	+0.227%	$114.4M	$75.3M	10x	as long as short