Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: OKX against BingX+0.043%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$430.433% of the position

Long on BingX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.090%−$9 on $10k

Price spread, last 7 days−0.051%−$5 · spread now +0.043%, 7d avg +0.006%

Together, before fees−0.141%−$14 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 0.037% dearer against BingX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ENA-USDC	0.2097	0.0100	pay 0.0050% / 4h	1h 43m	—	$6.5M	—
Short	OKX ENA-USDT-SWAP	0.2098	0.0100	get 0.0050% / 4h	1h 43m	$20.3M	$112.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against BingX. 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 BingXbpFee OKXbpOrdersPrice spread, now +0.043%Rate

Funding earned: $0
Price spread: +0.043% → +0.006%: $3.7
Slippage, 4 orders: −$23.3
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$39.6
Costs to cover: 0.433%
Break-even: never at this rate

Slippage from BingX: live order book, 7 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 BingX live order book, 7 min ago	0.48 bp	12.9 bp −$13	30.2 bp −$302	73.5 bp −$7,347	450.8 bp −$225.4K
Sell OKX live order book, 6 min ago	0.24 bp	11.0 bp −$11	23.8 bp −$238	90.3 bp −$9,028	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
Orderly PERP_ENA_USDC	−0.0069%	4h	0.2096	−0.033%	$41K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0034%	1h	0.2101	+0.186%	$362K	$482K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2097	+0.005%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2097	+0.011%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.264%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2098	+0.058%	$2.6M	$5.6M	50x	as long as short
01 Exchange ENAUSD	+0.0088%	1h	0.2099	+0.124%	$4K	$432	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2098	+0.052%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2098	+0.049%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2097	+0.014%	$658K	$1.8M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2098	+0.036%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2098	+0.076%	$406K	$582K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2098	+0.057%	$129.2M	$461.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2097	−0.010%	$87.2M	$192.0M	50x	as long as short
OKX ENA-USDT-SWAPshort	+0.0100%	4h	0.2098	+0.043%	$20.3M	$112.6M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2089	−0.391%	$21K	$413K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2099	+0.100%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2090	−0.325%	$88K	$1K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2098	+0.048%	$10.5M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2097	+0.019%	$45.0M	$46.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2099	+0.095%	$24.0M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2096	−0.052%	$47.5M	$65.3M	75x	as long as short
BingX ENA-USDClong	+0.0100%	4h	0.2097	long leg	—	$6.5M	—
Variational Omni ENA	+0.0100%	4h	0.2089	−0.379%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2094	−0.153%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2095	−0.085%	$354K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2096	−0.043%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2099	+0.105%	$188K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2047	−2.384%	$1K	$814K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2097	+0.005%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2101	+0.200%	$274K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2096	−0.043%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2097	−0.005%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2097	+0.024%	$5K	$356K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0224% / S −0.0372%	1h	0.2096	−0.027%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0280%	1h	0.2096	−0.050%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2099	+0.086%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2098	+0.030%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0488%	1h	0.2100	+0.153%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0561%	1h	0.2102	+0.233%	$110.9M	$79.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2097	−0.005%	$801K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1888%	1h	0.2098	+0.052%	$139K	$15K	5x	as long as short