Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Ondo Perps against Binance−0.283%46s7-day average +0.033% · you buy dearer than you sell

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

Long on Binance Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now −0.283%, 7d avg +0.033%

Together, before fees−0.015%+ Points / potential airdropOndo Perps: Active · farm board−$1 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 0.317% cheaper against Binance than usual: you would sell low and buy high, −$32 on $10k if it goes back to its 7-day average of +0.033%. The two prices were read 46 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	Binance ENAUSDT	0.2117	0.0100	pay 0.0050% / 4h	1h 58m	$127.3M	$409.7M	75x
Short	Ondo Perps ENA-USD.P	0.2111	0.0100	get 0.0013% / 1h	58m 54s	$27K	$332K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Binance. 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 BinancebpFee Ondo PerpsbpOrdersPrice spread, now −0.283%Rate

Funding earned: $0
Price spread: −0.283% → +0.033%: −$31.65
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$46.65
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 8 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 Binance live order book, 8 min ago	0.24 bp	9.4 bp −$9	18.4 bp −$184	63.0 bp −$6,295	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 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	−0.0183%	4h	0.2115	−0.076%	$44K	$14K	10x	as long as short
Kraken Futures PF_ENAUSD	−0.0132%	1h	0.2116	−0.027%	$2.6M	$4.2M	50x	as long as short
01 Exchange ENAUSD	−0.0128%	1h	0.2114	−0.109%	$4K	$60	10x	as long as short
Bitget ENAUSDT	−0.0040%	4h	0.2114	−0.104%	$47.6M	$57.1M	75x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2116	−0.019%	$105K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2107	−0.462%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	+0.246%	$734	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2114	−0.128%	$57K	$389K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2116	−0.019%	$47K	—	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2114	−0.128%	$587K	$1.7M	10x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ENA	+0.0100%	1h	0.2116	−0.052%	$114.1M	$78.3M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2118	+0.041%	$1.3M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2118	+0.045%	$390K	$527K	10x	as long as short
Binance ENAUSDTlong	+0.0100%	4h	0.2117	long leg	$127.3M	$409.7M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2117	0.000%	$86.9M	$186.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2116	−0.038%	$21.0M	$101.5M	50x	as long as short
Ondo Perps ENA-USD.Pshort	+0.0100%	1h	0.2111	−0.283%	$27K	$332K	5x
Arcus ENA-USD	+0.0100%	1h	0.2116	−0.033%	$79K	$238K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2114	−0.104%	$103K	$12K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2117	+0.014%	$13.8M	$26.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2117	+0.009%	$42.2M	$40.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2118	+0.066%	$25.1M	$15.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2117	+0.005%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2105	−0.574%	$3.0M	$8.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2105	−0.574%	$244K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2106	−0.506%	$352K	$4.4M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2107	−0.458%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2116	−0.028%	$167K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2064	−2.466%	$1K	$920K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2115	−0.080%	$6K	$5K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2121	+0.198%	$265K	$780K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2114	−0.128%	$1.9M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2115	−0.068%	$1.6M	$4.8M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2115	−0.057%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0112%	1h	0.2106	−0.520%	$13K	$277K	10x	as long as short
dYdX ENA-USD	+0.0155%	1h	0.2118	+0.070%	$140K	$15K	5x	as long as short
Lighter ENA	+0.0192%	1h	0.2117	+0.033%	$5.0M	$12.4M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0756%	1h	0.2115	−0.069%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2116	−0.038%	$5.6M	$3.3M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2114	−0.128%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0480%	1h	0.2119	+0.128%	$781K	$1.9M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0575%	1h	0.2115	−0.057%	$406K	$474K	5x	as long as short